Energy Vault (NYSE:NRGV) Trading 10.2% Higher – Here’s What Happened

Energy Vault Holdings, Inc. (NYSE:NRGV)’s stock price shot up 10.2% during mid-day trading on Thursday . The stock traded as high as $6.33 and last traded at $6.4580. 3,411,872 shares changed hands during trading, a decline of 16% from the average session volume of 4,066,277 shares. The stock had previously closed at $5.86.

Analyst Ratings Changes

Several brokerages have weighed in on NRGV. Zacks Research lowered Energy Vault from a “hold” rating to a “strong sell” rating in a research report on Tuesday, February 17th. Cantor Fitzgerald assumed coverage on Energy Vault in a research note on Tuesday, May 5th. They issued an “overweight” rating and a $7.00 price target for the company. Fundamental Research set a $6.05 price objective on Energy Vault and gave the stock a “buy” rating in a report on Tuesday, March 24th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Energy Vault in a research report on Wednesday, May 27th. Finally, Wall Street Zen cut shares of Energy Vault from a “hold” rating to a “sell” rating in a research note on Saturday, May 23rd. Two investment analysts have rated the stock with a Buy rating and three have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Reduce” and an average price target of $5.02.

Energy Vault Stock Down 15.1%

The company has a quick ratio of 1.44, a current ratio of 1.44 and a debt-to-equity ratio of 4.94. The business has a 50-day simple moving average of $4.41 and a two-hundred day simple moving average of $4.26. The company has a market cap of $982.69 million, a price-to-earnings ratio of -7.76 and a beta of 1.15.

Energy Vault (NYSE:NRGV) last posted its 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). Energy Vault had a negative return on equity of 171.09% and a negative net margin of 52.97%.The firm had revenue of $21.88 million during the quarter, compared to the consensus estimate of $20.72 million. As a group, equities analysts forecast that Energy Vault Holdings, Inc. will post -0.61 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, CFO Michael Thomas Beer sold 65,000 shares of the firm’s stock in a transaction that occurred on Monday, April 6th. The shares were sold at an average price of $3.18, for a total transaction of $206,700.00. Following the completion of the sale, the chief financial officer owned 1,060,945 shares of the company’s stock, valued at approximately $3,373,805.10. This trade represents a 5.77% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 17.20% of the company’s stock.

Institutional Investors Weigh In On Energy Vault

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. AQR Capital Management LLC boosted its stake 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 purchasing an additional 83,410 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in shares of Energy Vault by 201.9% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 177,395 shares of the company’s stock valued at $125,000 after buying an additional 118,641 shares in the last quarter. Goldman Sachs Group Inc. increased its stake in shares of Energy Vault by 4.2% in the first quarter. Goldman Sachs Group Inc. now owns 398,476 shares of the company’s stock valued at $277,000 after buying an additional 16,101 shares in the last quarter. Jane Street Group LLC raised its holdings in shares of Energy Vault by 613.7% in the first quarter. Jane Street Group LLC now owns 139,129 shares of the company’s stock valued at $97,000 after buying an additional 119,636 shares during the last quarter. Finally, XTX Topco Ltd bought a new stake in Energy Vault during the 2nd quarter worth about $39,000. 40.03% of the stock is owned by institutional investors and hedge funds.

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.