Energy Vault (NYSE:NRGV) Trading Up 12.8% – Should You Buy?

Energy Vault Holdings, Inc. (NYSE:NRGV)’s stock price rose 12.8% during trading on Thursday . The company traded as high as $5.40 and last traded at $5.3020. Approximately 740,128 shares were traded during trading, a decline of 65% from the average daily volume of 2,144,500 shares. The stock had previously closed at $4.70.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the stock. Zacks Research downgraded shares of Energy Vault from a “hold” rating to a “strong sell” rating in a research note on Wednesday, October 15th. Weiss Ratings reissued a “sell (e+)” rating on shares of Energy Vault in a report on Tuesday, October 14th. Fundamental Research set a $5.19 price objective on Energy Vault and gave the stock a “buy” rating in a report on Tuesday, November 18th. Finally, The Goldman Sachs Group lifted their target price on Energy Vault from $1.50 to $2.00 and gave the company a “sell” rating in a research note on Wednesday, November 12th. Three analysts have rated the stock with a Buy rating and three have given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $2.67.

Energy Vault Price Performance

The firm has a market capitalization of $886.77 million, a price-to-earnings ratio of -5.52 and a beta of 0.95. The company has a quick ratio of 0.59, a current ratio of 0.63 and a debt-to-equity ratio of 0.39. The company’s fifty day moving average is $3.68 and its two-hundred day moving average is $2.30.

Energy Vault (NYSE:NRGV) last released its earnings results on Monday, November 10th. The company reported ($0.16) earnings per share for the quarter, missing the consensus estimate of ($0.10) by ($0.06). Energy Vault had a negative net margin of 172.61% and a negative return on equity of 119.98%. The company had revenue of $33.32 million during the quarter, compared to analyst estimates of $48.99 million. Equities research analysts anticipate that Energy Vault Holdings, Inc. will post -0.64 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Energy Vault news, CEO Robert Piconi bought 10,000 shares of the stock in a transaction that occurred on Friday, November 14th. The stock was acquired at an average cost of $3.00 per share, with a total value of $30,000.00. Following the purchase, the chief executive officer owned 20,207,242 shares in the company, valued at $60,621,726. This trade represents a 0.05% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Akshay Ladwa sold 75,000 shares of Energy Vault stock in a transaction that occurred on Thursday, September 25th. The shares were sold at an average price of $3.11, for a total transaction of $233,250.00. Following the completion of the transaction, the insider directly owned 1,934,582 shares in the company, valued at approximately $6,016,550.02. The trade was a 3.73% decrease in their position. The disclosure for this sale is available in the SEC filing. 15.40% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Energy Vault

A number of hedge funds and other institutional investors have recently made changes to their positions in NRGV. Mercer Global Advisors Inc. ADV bought a new stake in shares of Energy Vault in the third quarter valued at about $36,000. Platform Technology Partners acquired a new stake in shares of Energy Vault in the 3rd quarter valued at approximately $40,000. Banco BTG Pactual S.A. bought a new position in shares of Energy Vault in the third quarter valued at $43,000. Ground Swell Capital LLC acquired a new position in Energy Vault during the second quarter worth $26,000. Finally, Verition Fund Management LLC bought a new stake in Energy Vault during the third quarter worth $120,000. 40.03% of the stock is currently owned by institutional investors and hedge funds.

Energy Vault Company Profile

Energy Vault Holdings, Inc develops and sells energy storage solutions. The company offers B-Vault, an electrochemical battery energy storage systems for shorter-duration energy storage needs; G-Vault, a proprietary gravity energy storage solution, including EVx solution; and H-Vault, a hybrid energy storage systems including systems that integrate green hydrogen.