Energy Vault (NYSE:NRGV) Trading Up 7.7% – Here’s What Happened

Energy Vault Holdings, Inc. (NYSE:NRGV) shares were up 7.7% on Thursday . The stock traded as high as $4.34 and last traded at $4.2740. Approximately 416,965 shares traded hands during mid-day trading, a decline of 91% from the average session volume of 4,495,064 shares. The stock had previously closed at $3.97.

Analyst Ratings Changes

A number of research analysts have issued reports on the company. Citigroup boosted their price target on Energy Vault from $5.00 to $6.00 and gave the company a “buy” rating in a report on Thursday, August 20th. Weiss Ratings downgraded shares of Energy Vault from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Wednesday, August 12th. Cantor Fitzgerald reissued an “overweight” rating and set a $7.00 target price on shares of Energy Vault in a research note on Wednesday, August 12th. Roth Capital restated a “buy” rating and set a $7.00 target price (up from $5.00) on shares of Energy Vault in a research report on Wednesday, August 12th. Finally, Wall Street Zen lowered Energy Vault from a “sell” rating to a “strong sell” rating in a research note on Saturday, August 15th. Four investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and two have given a Sell rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $6.01.

Energy Vault Stock Performance

The firm has a fifty day simple moving average of $3.55 and a 200-day simple moving average of $3.94. The company has a market cap of $815.55 million, a PE ratio of -6.80 and a beta of 1.24. The company has a quick ratio of 1.19, a current ratio of 1.19 and a debt-to-equity ratio of 24.07.

Energy Vault (NYSE:NRGV) last issued its quarterly earnings data on Tuesday, August 11th. The company reported ($0.17) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.14) by ($0.03). The firm had revenue of $17.37 million during the quarter, compared to analysts’ expectations 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, research analysts forecast that Energy Vault Holdings, Inc. will post -0.56 EPS for the current fiscal year.

Insider Activity at Energy Vault

In other news, Director Dylan Hixon purchased 27,472 shares of the company’s stock in a transaction on Monday, August 17th. The shares were bought at an average price of $3.88 per share, for a total transaction of $106,591.36. Following the completion of the purchase, the director owned 27,472 shares of the company’s stock, valued at $106,591.36. This trade represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Stephanie Unwin sold 115,000 shares of the firm’s stock in a transaction dated Wednesday, August 26th. The shares were sold at an average price of $3.71, for a total transaction of $426,650.00. Following the transaction, the director directly owned 182,245 shares in the company, valued at approximately $676,128.95. The trade was a 38.69% decrease in their position. The SEC filing for this sale provides additional information. 17.20% of the stock is owned by corporate insiders.

Institutional Trading of Energy Vault

Institutional investors have recently made changes to their positions in the business. Forte Asset Management LLC bought a new stake in Energy Vault during the first quarter worth about $33,000. Calamos Advisors LLC bought a new position in shares of Energy Vault in the first quarter valued at approximately $48,000. Quantbot Technologies LP acquired a new position in shares of Energy Vault in the 2nd quarter worth approximately $50,000. Miller Howard Investments Inc. NY bought a new stake in Energy Vault during the 1st quarter worth approximately $51,000. Finally, Hsbc Holdings PLC bought a new stake in Energy Vault during the 2nd quarter worth approximately $57,000. 40.03% of the stock is currently owned by institutional investors and hedge funds.

Energy Vault Company Profile

Energy Vault Holdings, Inc develops and deploys energy-storage systems designed to help stabilize electric grids and integrate renewable power. The company’s technologies are intended to store electricity for later use, addressing the intermittent nature of sources such as wind and solar.

Its product portfolio includes gravity-based storage systems, including the EVx platform, which uses mechanical lifting and lowering of heavy composite blocks to store and release energy. Energy Vault also offers battery energy-storage systems, hybrid storage solutions, and VaultOS, a software platform designed to manage and optimize energy-storage assets.

Founded in 2017, Energy Vault became a publicly traded company in 2022 through a business combination with Novus Capital Corporation III.