Energy Vault (NYSE:NRGV) Shares Down 5.7% – Here’s What Happened

Shares of Energy Vault Holdings, Inc. (NYSE:NRGV) dropped 5.7% on Friday . The company traded as low as $4.40 and last traded at $4.3450. Approximately 688,874 shares were traded during mid-day trading, a decline of 81% from the average daily volume of 3,656,367 shares. The stock had previously closed at $4.61.

Wall Street Analyst Weigh In

Several analysts recently commented on NRGV shares. Fundamental Research set a $6.05 price objective on Energy Vault and gave the stock a “buy” rating in a research note on Tuesday, March 24th. The Goldman Sachs Group raised their price objective on Energy Vault from $1.75 to $2.00 and gave the stock a “sell” rating in a research note on Thursday, March 19th. Zacks Research downgraded Energy Vault from a “hold” rating to a “strong sell” rating in a research note on Tuesday, February 17th. Finally, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Energy Vault in a research note on Friday, January 9th. One equities research analyst has rated the stock with a Buy rating and three have issued a Sell rating to the stock. Based on data from MarketBeat, Energy Vault currently has a consensus rating of “Reduce” and an average target price of $4.03.

Energy Vault Price Performance

The firm has a market cap of $768.90 million, a price-to-earnings ratio of -6.84 and a beta of 0.90. The company has a current ratio of 0.73, a quick ratio of 0.73 and a debt-to-equity ratio of 0.56. The company has a 50 day moving average of $3.48 and a 200 day moving average of $3.98.

Energy Vault (NYSE:NRGV) last issued its quarterly earnings data on Tuesday, March 17th. The company reported ($0.13) EPS for the quarter, missing the consensus estimate of ($0.07) by ($0.06). The business had revenue of $153.31 million for the quarter, compared to analyst estimates of $152.57 million. Energy Vault had a negative return on equity of 106.69% and a negative net margin of 50.87%. Equities research analysts predict that Energy Vault Holdings, Inc. will post -0.56 EPS for the current fiscal year.

Insider Transactions at Energy Vault

In other Energy Vault news, CFO Michael Thomas Beer sold 65,000 shares of the stock in a transaction dated Monday, April 6th. The stock was sold at an average price of $3.18, for a total transaction of $206,700.00. Following the completion of the transaction, the chief financial officer owned 1,060,945 shares in the company, valued at approximately $3,373,805.10. This represents a 5.77% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In the last three months, insiders bought 16,950 shares of company stock worth $55,062. 15.40% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Energy Vault

Large investors have recently added to or reduced their stakes in the company. Forte Asset Management LLC bought a new position in Energy Vault during the 1st quarter worth about $33,000. Mercer Global Advisors Inc. ADV bought a new position in Energy Vault during the 3rd quarter worth about $36,000. XTX Topco Ltd bought a new position in Energy Vault during the 2nd quarter worth about $39,000. Platform Technology Partners bought a new position in Energy Vault during the 3rd quarter worth about $40,000. Finally, Banco BTG Pactual S.A. bought a new position in Energy Vault during the 3rd quarter worth about $43,000. Institutional investors own 40.03% of the company’s stock.

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.