Energy Vault (NYSE:NRGV) Upgraded by Zacks Research to “Hold” Rating

Energy Vault (NYSE:NRGV) was upgraded by Zacks Research from a “strong sell” rating to a “hold” rating in a research report issued to clients and investors on Monday,Zacks.com reports.

Several other analysts have also recently weighed in on 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. Wall Street Zen downgraded shares of Energy Vault from a “hold” rating to a “sell” rating in a research report on Saturday, May 23rd. Cantor Fitzgerald initiated coverage on shares of Energy Vault in a research report on Tuesday, May 5th. They issued an “overweight” rating and a $7.00 price target for the company. The Goldman Sachs Group raised their price target on shares of Energy Vault from $1.75 to $2.00 and gave the company a “sell” rating in a research note on Thursday, March 19th. Finally, Citigroup started coverage on shares of Energy Vault in a report on Thursday, June 11th. They set a “neutral” rating and a $5.25 price target on the stock. Two investment analysts have rated the stock with a Buy rating, two have given a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat.com, Energy Vault presently has a consensus rating of “Hold” and a consensus price target of $5.08.

Energy Vault Stock Down 7.6%

Shares of NRGV opened at $3.81 on Monday. The firm has a market cap of $678.24 million, a P/E ratio of -5.36 and a beta of 1.17. The firm’s 50-day simple moving average is $4.75 and its 200 day simple moving average is $4.33. The company has a debt-to-equity ratio of 4.94, a quick ratio of 1.44 and a current ratio of 1.44. Energy Vault has a 52 week low of $0.75 and a 52 week high of $6.64.

Energy Vault (NYSE:NRGV) last announced its quarterly earnings data 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 net margin of 52.97% and a negative return on equity of 171.09%. The company had revenue of $21.88 million during the quarter, compared to analyst estimates of $20.72 million. On average, analysts forecast that Energy Vault will post -0.61 earnings per share for the current year.

Institutional Trading of Energy Vault

A number of large investors have recently bought and sold shares of the business. Millennium Management LLC lifted its stake in shares of Energy Vault by 141.2% in the 3rd quarter. Millennium Management LLC now owns 5,858,734 shares of the company’s stock valued at $17,400,000 after purchasing an additional 3,430,094 shares during the period. State Street Corp grew its stake 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 during the period. Legal & General Group Plc bought a new stake in Energy Vault in the fourth quarter worth approximately $18,217,000. Marshall Wace LLP lifted its stake in Energy Vault by 132.7% in the fourth quarter. Marshall Wace LLP now owns 3,194,205 shares of the company’s stock valued at $14,725,000 after buying an additional 1,821,462 shares during the period. Finally, Invesco Ltd. acquired a new position in Energy Vault in the fourth quarter valued at approximately $11,454,000. 40.03% of the stock is currently 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.