Energy Vault (NYSE:NRGV) Cut to Strong Sell at Zacks Research

Zacks Research downgraded shares of Energy Vault (NYSE:NRGV) from a hold rating to a strong sell rating in a report published on Tuesday,Zacks.com reports.

A number of other equities research analysts also recently weighed in on the company. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Energy Vault in a research note on Friday, January 9th. Fundamental Research set a $5.19 price target on Energy Vault and gave the stock a “buy” rating in a research note on Tuesday, November 18th. Finally, The Goldman Sachs Group increased their price objective on Energy Vault from $1.50 to $2.00 and gave the company a “sell” rating in a report on Wednesday, November 12th. Three investment analysts have rated the stock with a Buy rating and three have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $2.67.

Energy Vault Stock Performance

Shares of NRGV stock opened at $3.23 on Tuesday. The company has a current ratio of 0.63, a quick ratio of 0.59 and a debt-to-equity ratio of 0.39. Energy Vault has a 1-year low of $0.60 and a 1-year high of $6.35. The stock’s fifty day simple moving average is $4.81 and its 200-day simple moving average is $3.54. The company has a market capitalization of $541.12 million, a price-to-earnings ratio of -3.39 and a beta of 0.91.

Insiders Place Their Bets

In other news, major shareholder Vision Fund (Aiv M2) Softbank sold 3,000,000 shares of the stock in a transaction on Thursday, January 15th. The shares were sold at an average price of $5.65, for a total transaction of $16,950,000.00. Following the completion of the sale, the insider owned 15,535,631 shares of the company’s stock, valued at $87,776,315.15. This represents a 16.19% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Michael Thomas Beer sold 50,000 shares of the business’s stock in a transaction that occurred on Tuesday, December 23rd. The stock was sold at an average price of $4.91, for a total value of $245,500.00. Following the transaction, the chief financial officer directly owned 1,150,522 shares in the company, valued at $5,649,063.02. This trade represents a 4.16% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 15.40% of the company’s stock.

Hedge Funds Weigh In On Energy Vault

Several hedge funds and other institutional investors have recently made changes to their positions in NRGV. State Street Corp grew its holdings in shares of Energy Vault by 1,004.0% during the fourth quarter. State Street Corp now owns 5,697,735 shares of the company’s stock worth $26,267,000 after purchasing an additional 5,181,624 shares during the last quarter. Legal & General Group Plc acquired a new position in Energy Vault during the 4th quarter worth about $18,217,000. Millennium Management LLC grew its position in shares of Energy Vault by 141.2% in the 3rd quarter. Millennium Management LLC now owns 5,858,734 shares of the company’s stock valued at $17,400,000 after buying an additional 3,430,094 shares during the last quarter. Invesco Ltd. bought a new position in shares of Energy Vault during the fourth quarter worth about $11,454,000. Finally, Marshall Wace LLP lifted its holdings in Energy Vault by 132.7% in the fourth quarter. Marshall Wace LLP now owns 3,194,205 shares of the company’s stock valued at $14,725,000 after buying an additional 1,821,462 shares during the period. 40.03% of the stock is currently owned by institutional investors and hedge funds.

Energy Vault Company Profile

Energy Vault is a global energy storage technology company specializing in long-duration, gravity-based energy storage solutions. Founded in 2017 and headquartered in Lugano, Switzerland, the firm has developed a modular system that uses large composite blocks and a proprietary crane system to convert excess renewable energy into gravitational potential energy. When energy demand peaks, the system lowers the blocks to generate electricity through regenerative braking, offering a dispatchable, carbon-free alternative to traditional battery storage.

The company’s flagship product line, EVx, integrates advanced materials science, software-driven controls and artificial intelligence to optimize charge and discharge cycles.