Energy Vault (NYSE:NRGV) Shares Gap Up on Analyst Upgrade

Shares of Energy Vault Holdings, Inc. (NYSE:NRGV) gapped up prior to trading on Wednesday after Citigroup upgraded the stock from a neutral rating to a buy rating. The stock had previously closed at $3.48, but opened at $3.77. Citigroup now has a $5.00 price target on the stock, down from their previous price target of $5.25. Energy Vault shares last traded at $3.5580, with a volume of 1,029,521 shares changing hands.

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

Insider Buying and Selling at Energy Vault

In other news, CFO Michael Thomas Beer sold 65,000 shares of the firm’s stock in a transaction that occurred on Monday, July 6th. The shares were sold at an average price of $4.08, for a total transaction of $265,200.00. Following the completion of the sale, the chief financial officer owned 1,021,806 shares in the company, valued at $4,168,968.48. This trade represents a 5.98% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 17.20% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Energy Vault

Several hedge funds and other institutional investors have recently added to or reduced their stakes in NRGV. Forte Asset Management LLC acquired a new position in shares of Energy Vault in the 1st quarter valued at $33,000. Mercer Global Advisors Inc. ADV acquired a new stake in shares of Energy Vault during the 3rd quarter worth about $36,000. XTX Topco Ltd acquired a new stake in shares of Energy Vault during the 2nd quarter worth about $39,000. Banco BTG Pactual S.A. acquired a new stake in shares of Energy Vault during the 3rd quarter worth about $43,000. Finally, Calamos Advisors LLC purchased a new stake in Energy Vault in the 1st quarter valued at about $48,000. Institutional investors and hedge funds own 40.03% of the company’s stock.

Energy Vault Stock Performance

The firm’s fifty day moving average is $4.45 and its 200-day moving average is $4.21. The company has a current ratio of 1.44, a quick ratio of 1.44 and a debt-to-equity ratio of 4.94. The stock has a market capitalization of $596.25 million, a PE ratio of -4.71 and a beta of 1.17.

Energy Vault (NYSE:NRGV) last announced its earnings results 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 company had revenue of $21.88 million for the quarter, compared to analysts’ expectations of $20.72 million. As a group, research analysts anticipate that Energy Vault Holdings, Inc. will post -0.61 earnings per share for the current year.

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.