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Energy Vault Holdings, Inc. (NRGV) Sees a More Significant Dip Than Broader Market: Some Facts to Know
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Energy Vault Holdings, Inc. (NRGV - Free Report) closed the most recent trading day at $1.23, moving -1.6% from the previous trading session. The stock's performance was behind the S&P 500's daily loss of 0.46%. Meanwhile, the Dow lost 0.98%, and the Nasdaq, a tech-heavy index, lost 0.64%.
The company's stock has dropped by 27.75% in the past month, falling short of the Oils-Energy sector's gain of 4.21% and the S&P 500's loss of 3.04%.
Investors will be eagerly watching for the performance of Energy Vault Holdings, Inc. in its upcoming earnings disclosure. The company's earnings report is set to be unveiled on May 8, 2024. In that report, analysts expect Energy Vault Holdings, Inc. to post earnings of -$0.12 per share. This would mark year-over-year growth of 45.45%. Simultaneously, our latest consensus estimate expects the revenue to be $11.4 million, showing a 0.18% drop compared to the year-ago quarter.
For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of -$0.34 per share and a revenue of $402.9 million, representing changes of +50.72% and +17.96%, respectively, from the prior year.
It is also important to note the recent changes to analyst estimates for Energy Vault Holdings, Inc. Such recent modifications usually signify the changing landscape of near-term business trends. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the company's business health and profitability.
Our research shows that these estimate changes are directly correlated with near-term stock prices. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional rating system.
The Zacks Rank system, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed an unchanged state. Energy Vault Holdings, Inc. presently features a Zacks Rank of #2 (Buy).
The Alternative Energy - Other industry is part of the Oils-Energy sector. This group has a Zacks Industry Rank of 78, putting it in the top 31% of all 250+ industries.
The Zacks Industry Rank is ordered from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
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Energy Vault Holdings, Inc. (NRGV) Sees a More Significant Dip Than Broader Market: Some Facts to Know
Energy Vault Holdings, Inc. (NRGV - Free Report) closed the most recent trading day at $1.23, moving -1.6% from the previous trading session. The stock's performance was behind the S&P 500's daily loss of 0.46%. Meanwhile, the Dow lost 0.98%, and the Nasdaq, a tech-heavy index, lost 0.64%.
The company's stock has dropped by 27.75% in the past month, falling short of the Oils-Energy sector's gain of 4.21% and the S&P 500's loss of 3.04%.
Investors will be eagerly watching for the performance of Energy Vault Holdings, Inc. in its upcoming earnings disclosure. The company's earnings report is set to be unveiled on May 8, 2024. In that report, analysts expect Energy Vault Holdings, Inc. to post earnings of -$0.12 per share. This would mark year-over-year growth of 45.45%. Simultaneously, our latest consensus estimate expects the revenue to be $11.4 million, showing a 0.18% drop compared to the year-ago quarter.
For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of -$0.34 per share and a revenue of $402.9 million, representing changes of +50.72% and +17.96%, respectively, from the prior year.
It is also important to note the recent changes to analyst estimates for Energy Vault Holdings, Inc. Such recent modifications usually signify the changing landscape of near-term business trends. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the company's business health and profitability.
Our research shows that these estimate changes are directly correlated with near-term stock prices. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional rating system.
The Zacks Rank system, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed an unchanged state. Energy Vault Holdings, Inc. presently features a Zacks Rank of #2 (Buy).
The Alternative Energy - Other industry is part of the Oils-Energy sector. This group has a Zacks Industry Rank of 78, putting it in the top 31% of all 250+ industries.
The Zacks Industry Rank is ordered from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.