Energy Vault (NYSE:NRGV) Trading 7.5% Higher – Here’s What Happened

Energy Vault Holdings, Inc. (NYSE:NRGVGet Free Report)’s stock price was up 7.5% during trading on Tuesday . The stock traded as high as $3.92 and last traded at $3.9140. Approximately 1,449,741 shares changed hands during mid-day trading, a decline of 68% from the average session volume of 4,592,608 shares. The stock had previously closed at $3.64.

Wall Street Analyst Weigh In

A number of research analysts have commented on the company. Cantor Fitzgerald restated an “overweight” rating and set a $7.00 price objective on shares of Energy Vault in a research note on Wednesday, August 12th. Zacks Research upgraded Energy Vault from a “strong sell” rating to a “hold” rating in a report on Monday, July 6th. Fundamental Research set a $8.03 price target on Energy Vault and gave the stock a “buy” rating in a research report on Tuesday, August 18th. Weiss Ratings cut Energy Vault from a “sell (d-)” rating to a “sell (e+)” rating in a report on Wednesday, August 12th. Finally, Roth Capital reaffirmed a “buy” rating and issued a $7.00 price objective (up from $5.00) on shares of Energy Vault in a research report on Wednesday, August 12th. Four analysts have rated the stock with a Buy rating, one has given a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $6.01.

Read Our Latest Analysis on NRGV

Energy Vault Stock Up 6.7%

The firm has a 50 day moving average price of $3.61 and a two-hundred day moving average price of $3.88. The company has a quick ratio of 1.19, a current ratio of 1.19 and a debt-to-equity ratio of 24.07. The company has a market capitalization of $706.45 million, a price-to-earnings ratio of -5.87 and a beta of 1.21.

Energy Vault (NYSE:NRGVGet Free Report) last announced its earnings results on Tuesday, August 11th. The company reported ($0.17) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.14) by ($0.03). The business had revenue of $17.37 million for the quarter, compared to analysts’ expectations of $14.24 million. Energy Vault had a negative return on equity of 236.83% and a negative net margin of 48.58%. As a group, sell-side analysts expect that Energy Vault Holdings, Inc. will post -0.56 earnings per share for the current year.

Insider Activity at Energy Vault

In related news, Director Dylan Hixon purchased 27,472 shares of the firm’s stock in a transaction dated Monday, August 17th. The stock was acquired at an average price of $3.88 per share, with a total value of $106,591.36. Following the completion of the transaction, the director owned 27,472 shares of the company’s stock, valued at $106,591.36. This represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Michael Thomas Beer sold 65,000 shares of Energy Vault stock in a transaction on Monday, July 6th. The stock was 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 of the company’s stock, valued at approximately $4,168,968.48. This trade represents a 5.98% decrease in their position. The disclosure for this sale is available in the SEC filing. 17.20% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in NRGV. BlackRock Inc. acquired a new position in Energy Vault in the second quarter worth about $52,657,000. Legal & General Group Plc acquired a new stake in Energy Vault during the second quarter valued at approximately $25,508,000. State Street Corp raised its stake in Energy Vault by 1,004.0% during the fourth quarter. State Street Corp now owns 5,697,735 shares of the company’s stock valued at $26,267,000 after buying an additional 5,181,624 shares in the last quarter. Millennium Management LLC lifted its holdings in 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. Finally, Invesco Ltd. acquired a new position in shares of Energy Vault in the 4th quarter worth approximately $11,454,000. 40.03% of the stock is owned by institutional investors and hedge funds.

Energy Vault Company Profile

(Get Free Report)

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.

Further Reading

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