Energy Vault (NYSE:NRGV) Shares Gap Up After Analyst Upgrade

Energy Vault Holdings, Inc. (NYSE:NRGV) gapped up before the market opened on Wednesday after Citigroup upgraded the stock from a neutral rating to a buy rating. The stock had previously closed at $3.48, but opened at $3.77. Citigroup now has a $5.00 price target on the stock. Energy Vault shares last traded at $3.5580, with a volume of 1,029,521 shares traded.

Several other analysts have also commented on NRGV. Wall Street Zen lowered shares of Energy Vault from a “hold” rating to a “sell” rating in a research report on Saturday, May 23rd. Weiss Ratings reissued a “sell (d-)” rating on shares of Energy Vault in a research note on Wednesday, May 27th. Cantor Fitzgerald began 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 target on Energy Vault and gave the stock a “buy” rating in a report on Tuesday, March 24th. Finally, Zacks Research upgraded Energy Vault from a “strong sell” rating to a “hold” rating in a research report on Monday, July 6th. Three investment analysts have rated the stock with a Buy rating, one has given a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $5.01.

Insiders Place Their Bets

In related news, CFO Michael Thomas Beer sold 65,000 shares of Energy Vault stock in a transaction dated Monday, July 6th. The stock was sold at an average price of $4.08, for a total value of $265,200.00. Following the sale, the chief financial officer directly owned 1,021,806 shares in the company, valued at approximately $4,168,968.48. The trade was a 5.98% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 17.20% of the company’s stock.

Hedge Funds Weigh In On Energy Vault

Several hedge funds and other institutional investors have recently made changes to their positions in NRGV. AQR Capital Management LLC increased its position in shares of Energy Vault by 381.1% during 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. lifted its holdings in Energy Vault by 201.9% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 177,395 shares of the company’s stock valued at $125,000 after purchasing an additional 118,641 shares in the last quarter. Goldman Sachs Group Inc. boosted its stake in Energy Vault by 4.2% during the 1st quarter. Goldman Sachs Group Inc. now owns 398,476 shares of the company’s stock worth $277,000 after purchasing an additional 16,101 shares during the last quarter. Jane Street Group LLC boosted its stake in Energy Vault by 613.7% during the 1st quarter. Jane Street Group LLC now owns 139,129 shares of the company’s stock worth $97,000 after purchasing an additional 119,636 shares during the last quarter. Finally, XTX Topco Ltd purchased a new stake in shares of Energy Vault during the second quarter worth $39,000. Hedge funds and other institutional investors own 40.03% of the company’s stock.

Energy Vault Price Performance

The stock’s 50-day moving average price is $4.50 and its 200 day moving average price is $4.22. The firm has a market capitalization of $624.93 million, a price-to-earnings ratio of -4.98 and a beta of 1.17. The company has a quick ratio of 1.44, a current ratio of 1.44 and a debt-to-equity ratio of 4.94.

Energy Vault (NYSE:NRGV) last posted its quarterly earnings results on Tuesday, May 5th. The company reported ($0.20) earnings per share for the quarter, missing analysts’ consensus estimates 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 business had revenue of $21.88 million for the quarter, compared to analyst estimates of $20.72 million. Equities research analysts expect that Energy Vault Holdings, Inc. will post -0.61 earnings per share for the current fiscal year.

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.