Energy Vault (NYSE:NRGV) Shares Gap Down – Time to Sell?

Energy Vault Holdings, Inc. (NYSE:NRGV) shares gapped down prior to trading on Friday . The stock had previously closed at $3.88, but opened at $3.65. Energy Vault shares last traded at $3.69, with a volume of 1,061,942 shares changing hands.

Wall Street Analysts Forecast Growth

NRGV has been the subject of a number of recent analyst reports. Zacks Research cut shares of Energy Vault from a “hold” rating to a “strong sell” rating in a research report on Wednesday. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Energy Vault in a research report on Tuesday, October 14th. Finally, The Goldman Sachs Group boosted their target price on Energy Vault from $0.50 to $1.50 and gave the company a “sell” rating in a research report on Wednesday, October 8th. Two equities research analysts have rated the stock with a Buy rating and three have given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Reduce” and a consensus target price of $1.67.

Energy Vault Price Performance

The company’s 50-day simple moving average is $2.50 and its 200 day simple moving average is $1.44. The company has a market cap of $605.32 million, a PE ratio of -3.86 and a beta of 0.93. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.66 and a current ratio of 0.66.

Energy Vault (NYSE:NRGV) last announced its quarterly earnings data on Thursday, August 7th. The company reported ($0.22) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.07) by ($0.15). Energy Vault had a negative net margin of 279.38% and a negative return on equity of 96.64%. The company had revenue of $8.51 million during the quarter, compared to analyst estimates of $31.18 million. Energy Vault has set its FY 2025 guidance at EPS. On average, sell-side analysts predict that Energy Vault Holdings, Inc. will post -0.64 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, insider Akshay Ladwa sold 75,000 shares of the company’s stock in a transaction that occurred on Thursday, September 25th. The shares were sold at an average price of $3.11, for a total transaction of $233,250.00. Following the sale, the insider directly owned 1,934,582 shares in the company, valued at approximately $6,016,550.02. This represents a 3.73% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Robert Piconi purchased 50,000 shares of the firm’s stock in a transaction that occurred on Wednesday, September 17th. The stock was purchased at an average price of $2.30 per share, with a total value of $115,000.00. Following the purchase, the chief executive officer directly owned 20,182,384 shares of the company’s stock, valued at $46,419,483.20. The trade was a 0.25% increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last ninety days, insiders acquired 132,400 shares of company stock valued at $288,130 and sold 200,000 shares valued at $584,000. 15.40% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Energy Vault

Several large investors have recently bought and sold shares of the business. Private Capital Advisors Inc. lifted its holdings in Energy Vault by 766.1% during the 1st quarter. Private Capital Advisors Inc. now owns 487,260 shares of the company’s stock worth $339,000 after buying an additional 431,000 shares during the last quarter. Nuveen LLC acquired a new stake in shares of Energy Vault during the 1st quarter worth about $190,000. AQR Capital Management LLC lifted its stake in Energy Vault by 381.1% during the first quarter. AQR Capital Management LLC now owns 105,296 shares of the company’s stock worth $73,000 after purchasing an additional 83,410 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in Energy Vault by 201.9% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 177,395 shares of the company’s stock valued at $125,000 after purchasing an additional 118,641 shares in the last quarter. Finally, Goldman Sachs Group Inc. increased its stake in Energy Vault by 4.2% in the first quarter. Goldman Sachs Group Inc. now owns 398,476 shares of the company’s stock valued at $277,000 after purchasing an additional 16,101 shares during the last quarter. Hedge funds and other institutional investors own 40.03% of the company’s stock.

About Energy Vault

Energy Vault Holdings, Inc develops and sells energy storage solutions. The company offers B-Vault, an electrochemical battery energy storage systems for shorter-duration energy storage needs; G-Vault, a proprietary gravity energy storage solution, including EVx solution; and H-Vault, a hybrid energy storage systems including systems that integrate green hydrogen.