Energy Vault Holdings, Inc. (NYSE:NRGV – Get Free Report) shares rose 11% during mid-day trading on Tuesday . The stock traded as high as $4.09 and last traded at $4.2640. 508,729 shares traded hands during trading, a decline of 89% from the average session volume of 4,519,227 shares. The stock had previously closed at $3.84.
Analyst Upgrades and Downgrades
Several research analysts have recently issued reports on NRGV shares. Fundamental Research set a $8.03 price objective on Energy Vault and gave the stock a “buy” rating in a research note on Tuesday, August 18th. Citigroup raised their price target on shares of Energy Vault from $5.00 to $6.00 and gave the stock a “buy” rating in a research report on Thursday, August 20th. Roth Capital restated a “buy” rating and set a $7.00 price objective (up from $5.00) on shares of Energy Vault in a research note on Wednesday, August 12th. Wall Street Zen downgraded shares of Energy Vault from a “sell” rating to a “strong sell” rating in a report on Saturday, August 15th. Finally, Weiss Ratings cut shares of Energy Vault from a “sell (d-)” rating to a “sell (e+)” rating in a report on Wednesday, August 12th. Four analysts have rated the stock with a Buy rating, one has given a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $6.01.
Read Our Latest Research Report on Energy Vault
Energy Vault Stock Performance
Energy Vault (NYSE:NRGV – Get Free Report) last announced its quarterly 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 company had revenue of $17.37 million during the quarter, compared to analyst estimates of $14.24 million. Energy Vault had a negative net margin of 48.58% and a negative return on equity of 236.83%. On average, sell-side analysts anticipate that Energy Vault Holdings, Inc. will post -0.56 earnings per share for the current fiscal year.
Insider Activity at Energy Vault
In other news, Director Dylan Hixon purchased 85,518 shares of the stock in a transaction that occurred on Friday, August 14th. The shares were purchased at an average cost of $3.74 per share, with a total value of $319,837.32. Following the completion of the acquisition, the director owned 31,864 shares of the company’s stock, valued at approximately $119,171.36. This represents a -159.39% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Michael Beer sold 65,000 shares of the firm’s stock in a transaction 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 sale, the chief financial officer owned 1,021,806 shares in the company, valued at approximately $4,168,968.48. This represents a 5.98% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 17.20% of the company’s stock.
Institutional Investors Weigh In On Energy Vault
Several hedge funds have recently modified their holdings of the company. BlackRock Inc. acquired a new stake in shares of Energy Vault during the 2nd quarter valued at about $52,657,000. Millennium Management LLC raised its holdings in Energy Vault by 141.2% in the 3rd quarter. Millennium Management LLC now owns 5,858,734 shares of the company’s stock worth $17,400,000 after purchasing an additional 3,430,094 shares during the period. State Street Corp boosted its position 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 worth $26,267,000 after purchasing an additional 5,181,624 shares in the last quarter. Legal & General Group Plc purchased a new position in Energy Vault during the second quarter worth approximately $25,508,000. Finally, SailingStone Capital Partners LLC boosted its position in Energy Vault by 0.5% during the second quarter. SailingStone Capital Partners LLC now owns 4,469,075 shares of the company’s stock worth $21,049,000 after purchasing an additional 24,058 shares in the last quarter. 40.03% of the stock is owned by hedge funds and other institutional investors.
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.
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