Energy Vault slashed to Sell from Buy at Chardan on 'inverted revenue trajectory' [Seeking Alpha]
Energy Vault Holdings, Inc. (NRGV)
Company Research
Source: Seeking Alpha
from $7, expecting Wall Street estimates will decline 65% in the coming weeks ahead of a proposed analyst day next month. Following Energy Vault's ( NRGV ) quarterly report, Chardan's Brian Dobson believes "substantial confusion permeates sell-side estimates," and expects many covering analysts will reduce Q1 estimates and substantially lower estimated 2024 outlooks, which "could result in an inverted revenue trajectory for this year." Wall Street consensus, excluding three $550M-plus estimates, is $335M, Dobson says, expecting that figure to decline ~65% to $118M over the next 30 days, which is "a meaningful negative catalyst" for the stock as consensus estimates are ratcheted lower. Energy Vault ( NRGV ) has said it expects a 16% sales conversion rate in Q2-Q4 based on its $144M backlog, and Dobson says currently there is not enough evidence to suggest the conversion rate will meaningfully improve next year. Recommended For You More Trending News About NRGV Stock Relat
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NRGV
News
- Energy Vault Holdings, Inc. (NRGV) Sees a More Significant Dip Than Broader Market: Some Facts to Know [Yahoo! Finance]Yahoo! Finance
- Energy Vault, NV Energy Bring 220MW-440MWh Reid Gardner BESS Project to Commercial Operation [Yahoo! Finance]Yahoo! Finance
- Energy Vault, NV Energy Bring 220MW-440MWh Reid Gardner BESS Project to Commercial OperationBusiness Wire
- Energy Vault Holdings, Inc. (NRGV) Ascends While Market Falls: Some Facts to Note [Yahoo! Finance]Yahoo! Finance
- Energy Vault Schedules Inaugural Investor & Analyst Day for May 9, 2024; Schedules Release Date for First Quarter 2024 Financial Results [Yahoo! Finance]Yahoo! Finance
NRGV
Earnings
- 3/12/24 - Miss
NRGV
Sec Filings
- 4/24/24 - Form 3
- 4/19/24 - Form 8-K/A
- 4/16/24 - Form 4
- NRGV's page on the SEC website