Energy Vault (NYSE:NRGV) Stock Price Up 10.2% – Time to Buy?

Shares of Energy Vault Holdings, Inc. (NYSE:NRGV) rose 10.2% during trading on Friday . The company traded as high as $3.66 and last traded at $3.72. Approximately 514,684 shares traded hands during trading, a decline of 74% from the average daily volume of 1,958,901 shares. The stock had previously closed at $3.37.

Wall Street Analysts Forecast Growth

NRGV has been the subject of a number of analyst reports. The Goldman Sachs Group upped their price objective on shares of Energy Vault from $0.50 to $1.50 and gave the company a “sell” rating in a research note on Wednesday, October 8th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Energy Vault in a research note on Tuesday, October 14th. Finally, Zacks Research lowered shares of Energy Vault from a “hold” rating to a “strong sell” rating in a research note on Wednesday, October 15th. Two research analysts have rated the stock with a Buy rating and three have given a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Reduce” and an average price target of $1.67.

Energy Vault Stock Up 2.2%

The business’s 50-day moving average price is $2.71 and its 200-day moving average price is $1.53. The company has a quick ratio of 0.66, a current ratio of 0.66 and a debt-to-equity ratio of 0.11. The firm has a market capitalization of $557.27 million, a PE ratio of -3.55 and a beta of 0.93.

Energy Vault (NYSE:NRGV) last posted its quarterly earnings results on Thursday, August 7th. The company reported ($0.22) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.07) by ($0.15). The company had revenue of $8.51 million during the quarter, compared to analysts’ expectations of $31.18 million. Energy Vault had a negative return on equity of 96.64% and a negative net margin of 279.38%. Energy Vault has set its FY 2025 guidance at EPS. As a group, equities research analysts predict that Energy Vault Holdings, Inc. will post -0.64 EPS for the current fiscal year.

Insider Activity at Energy Vault

In other news, CEO Robert Piconi acquired 17,500 shares of the company’s stock in a transaction that occurred on Friday, September 19th. The shares were purchased at an average price of $3.02 per share, for a total transaction of $52,850.00. Following the completion of the acquisition, the chief executive officer owned 20,199,884 shares of the company’s stock, valued at approximately $61,003,649.68. This represents a 0.09% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Michael Thomas Beer sold 50,000 shares of the stock in a transaction that occurred on Friday, September 12th. The stock was sold at an average price of $2.17, for a total value of $108,500.00. Following the completion of the transaction, the chief financial officer owned 1,216,103 shares in the company, valued at $2,638,943.51. This represents a 3.95% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders acquired 132,400 shares of company stock valued at $288,130 and sold 200,000 shares valued at $584,000. 15.40% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Energy Vault

Hedge funds have recently added to or reduced their stakes in the company. Ground Swell Capital LLC acquired a new position in Energy Vault in the second quarter worth approximately $26,000. Catalyst Funds Management Pty Ltd acquired a new position in Energy Vault in the second quarter worth approximately $36,000. XTX Topco Ltd acquired a new position in Energy Vault in the second quarter worth approximately $39,000. Tower Research Capital LLC TRC increased its holdings in Energy Vault by 570.6% in the second quarter. Tower Research Capital LLC TRC now owns 78,975 shares of the company’s stock worth $57,000 after buying an additional 67,199 shares during the last quarter. Finally, AQR Capital Management LLC increased its holdings in Energy Vault by 381.1% in the first quarter. AQR Capital Management LLC now owns 105,296 shares of the company’s stock worth $73,000 after buying an additional 83,410 shares during the last quarter. Institutional investors and hedge funds own 40.03% of the company’s stock.

Energy Vault Company Profile

Energy Vault Holdings, Inc develops and sells energy storage solutions. The company offers B-Vault, an electrochemical battery energy storage systems for shorter-duration energy storage needs; G-Vault, a proprietary gravity energy storage solution, including EVx solution; and H-Vault, a hybrid energy storage systems including systems that integrate green hydrogen.