Energy Vault (NYSE:NRGV) Shares Down 6.7% Following Insider Selling

Energy Vault Holdings, Inc. (NYSE:NRGV) dropped 6.7% during trading on Wednesday after an insider sold shares in the company. The company traded as low as $5.31 and last traded at $5.3250. Approximately 1,163,316 shares changed hands during trading, a decline of 60% from the average daily volume of 2,938,148 shares. The stock had previously closed at $5.71.

Specifically, major shareholder Vision Fund (Aiv M2) Softbank sold 3,000,000 shares of the company’s stock in a transaction that occurred on Thursday, January 15th. The stock was sold at an average price of $5.65, for a total value of $16,950,000.00. Following the transaction, the insider directly owned 15,535,631 shares of the company’s stock, valued at $87,776,315.15. This represents a 16.19% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on NRGV shares. Zacks Research upgraded shares of Energy Vault from a “strong sell” rating to a “hold” rating in a research note on Monday, January 5th. Fundamental Research set a $5.19 price objective on shares of Energy Vault and gave the stock a “buy” rating in a report on Tuesday, November 18th. Weiss Ratings reissued a “sell (e+)” rating on shares of Energy Vault in a research report on Friday, January 9th. Finally, The Goldman Sachs Group increased their price target on shares of Energy Vault from $1.50 to $2.00 and gave the stock a “sell” rating in a research report on Wednesday, November 12th. Three equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $2.67.

Energy Vault Price Performance

The company has a debt-to-equity ratio of 0.39, a quick ratio of 0.59 and a current ratio of 0.63. The company’s fifty day moving average price is $4.52 and its 200 day moving average price is $3.07. The firm has a market capitalization of $922.01 million, a price-to-earnings ratio of -5.78 and a beta of 0.91.

Energy Vault (NYSE:NRGV) last released its quarterly earnings data on Monday, November 10th. The company reported ($0.16) earnings per share for the quarter, missing the consensus estimate of ($0.10) by ($0.06). Energy Vault had a negative return on equity of 119.98% and a negative net margin of 172.61%.The business had revenue of $33.32 million for the quarter, compared to analyst estimates of $48.99 million. Equities research analysts expect that Energy Vault Holdings, Inc. will post -0.64 earnings per share for the current year.

Institutional Trading of Energy Vault

Several hedge funds have recently made changes to their positions in the stock. Ground Swell Capital LLC bought a new position in Energy Vault during the 2nd quarter worth $26,000. Catalyst Funds Management Pty Ltd bought a new stake in Energy Vault in the second quarter valued at $36,000. Mercer Global Advisors Inc. ADV acquired a new position in shares of Energy Vault during the third quarter valued at $36,000. XTX Topco Ltd bought a new position in shares of Energy Vault during the second quarter worth about $39,000. Finally, Platform Technology Partners acquired a new stake in shares of Energy Vault in the 3rd quarter worth about $40,000. Institutional investors own 40.03% of the company’s stock.

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.