Energy Vault Holdings, Inc. (NYSE:NRGV – Get Free Report)’s share price rose 8.9% during mid-day trading on Monday . The company traded as high as $3.13 and last traded at $3.1050. 890,153 shares changed hands during trading, a decline of 80% from the average daily volume of 4,453,710 shares. The stock had previously closed at $2.85.
Analyst Upgrades and Downgrades
A number of equities research analysts recently commented on NRGV shares. Zacks Research raised Energy Vault from a “strong sell” rating to a “hold” rating in a report on Monday, July 6th. Weiss Ratings reissued a “sell (d-)” rating on shares of Energy Vault in a report on Wednesday, May 27th. Wall Street Zen lowered shares of Energy Vault from a “hold” rating to a “sell” rating in a research report on Saturday, May 23rd. Cantor Fitzgerald started coverage on shares of Energy Vault in a research note on Tuesday, May 5th. They issued an “overweight” rating and a $7.00 price objective for the company. Finally, Citigroup upgraded shares of Energy Vault from a “neutral” rating to a “buy” rating and lowered their target price for the stock from $5.25 to $5.00 in a research report on Wednesday, July 22nd. 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. According to MarketBeat.com, the company has an average rating of “Hold” and an average price target of $5.01.
Read Our Latest Analysis on NRGV
Energy Vault Stock Up 8.2%
Energy Vault (NYSE:NRGV – Get Free Report) last released its quarterly 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). The company had revenue of $21.88 million for the quarter, compared to analysts’ expectations of $20.72 million. Energy Vault had a negative return on equity of 171.09% and a negative net margin of 52.97%. Sell-side analysts expect that Energy Vault Holdings, Inc. will post -0.6 EPS for the current year.
Insider Activity at Energy Vault
In related news, CFO Michael Thomas Beer sold 65,000 shares of the business’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 value of $265,200.00. Following the completion of the sale, the chief financial officer directly owned 1,021,806 shares in the company, valued at approximately $4,168,968.48. The trade was a 5.98% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 17.20% of the stock is currently owned by corporate insiders.
Institutional Trading of Energy Vault
Several institutional investors have recently made changes to their positions in NRGV. Millennium Management LLC increased its holdings in shares of Energy Vault by 141.2% during the 3rd quarter. Millennium Management LLC now owns 5,858,734 shares of the company’s stock worth $17,400,000 after buying an additional 3,430,094 shares during the last quarter. State Street Corp raised its holdings in shares of Energy Vault by 1,004.0% in the 4th 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 period. Legal & General Group Plc acquired a new position in shares of Energy Vault in the 4th quarter valued at about $18,217,000. Marshall Wace LLP lifted its stake in shares of Energy Vault by 132.7% in the 4th quarter. Marshall Wace LLP now owns 3,194,205 shares of the company’s stock valued at $14,725,000 after purchasing an additional 1,821,462 shares in the last quarter. Finally, Invesco Ltd. purchased a new stake in shares of Energy Vault during the 4th quarter worth about $11,454,000. 40.03% of the stock is owned by hedge funds and other 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.
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