Energy Vault (NYSE:NRGV) Upgraded by Citigroup to “Buy” Rating

Citigroup upgraded shares of Energy Vault (NYSE:NRGV) from a neutral rating to a buy rating in a research note published on Wednesday morning, Marketbeat reports. The brokerage currently has $5.00 price target on the stock, down from their prior price target of $5.25.

A number of other equities analysts have also commented on NRGV. Wall Street Zen lowered shares of Energy Vault from a “hold” rating to a “sell” rating in a report on Saturday, May 23rd. Weiss Ratings restated a “sell (d-)” rating on shares of Energy Vault in a report on Wednesday, May 27th. Fundamental Research set a $6.05 price objective on shares of Energy Vault and gave the stock a “buy” rating in a research report on Tuesday, March 24th. Zacks Research raised shares of Energy Vault from a “strong sell” rating to a “hold” rating in a research report on Monday, July 6th. Finally, Cantor Fitzgerald initiated coverage on Energy Vault in a research note on Tuesday, May 5th. They set an “overweight” rating and a $7.00 price target for the company. Three equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $5.01.

Energy Vault Price Performance

Shares of Energy Vault stock opened at $3.35 on Wednesday. The company has a quick ratio of 1.44, a current ratio of 1.44 and a debt-to-equity ratio of 4.94. Energy Vault has a twelve month low of $1.02 and a twelve month high of $6.64. The company has a 50-day simple moving average of $4.45 and a two-hundred day simple moving average of $4.21. The stock has a market capitalization of $596.25 million, a price-to-earnings ratio of -4.71 and a beta of 1.17.

Energy Vault (NYSE:NRGV) last posted its quarterly earnings data on Tuesday, May 5th. The company reported ($0.20) earnings per share for the quarter, missing the consensus estimate of ($0.15) by ($0.05). Energy Vault had a negative return on equity of 171.09% and a negative net margin of 52.97%.The firm had revenue of $21.88 million for the quarter, compared to the consensus estimate of $20.72 million. Analysts forecast that Energy Vault will post -0.61 EPS for the current year.

Insider Buying and Selling at Energy Vault

In other Energy Vault news, CFO Michael Thomas Beer sold 65,000 shares of the company’s stock in a transaction dated Monday, July 6th. The stock was sold at an average price of $4.08, for a total value of $265,200.00. Following the transaction, the chief financial officer directly owned 1,021,806 shares in the company, valued at $4,168,968.48. This represents a 5.98% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 17.20% of the company’s stock.

Institutional Investors Weigh In On Energy Vault

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Bank of America Corp DE raised its holdings in shares of Energy Vault by 349.6% during the first quarter. Bank of America Corp DE now owns 665,546 shares of the company’s stock valued at $2,196,000 after acquiring an additional 517,528 shares in the last quarter. Janus Henderson Group PLC purchased a new position in shares of Energy Vault during the first quarter valued at approximately $136,000. Royal Bank of Canada raised its stake in Energy Vault by 306,907.9% during the first quarter. Royal Bank of Canada now owns 463,582 shares of the company’s stock valued at $1,529,000 after buying an additional 463,431 shares during the last quarter. SummitTX Capital L.P. purchased a new position in shares of Energy Vault in the 1st quarter worth about $68,000. Finally, Bank of Nova Scotia raised its holdings in Energy Vault by 19.9% in the first quarter. Bank of Nova Scotia now owns 41,600 shares of the company’s stock worth $137,000 after buying an additional 6,900 shares during the last quarter. 40.03% of the stock is currently owned by institutional investors.

About Energy Vault

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.