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

Energy Vault Holdings, Inc. (NYSE:NRGV) shares rose 10.2% on Thursday . The stock traded as high as $6.33 and last traded at $6.4580. Approximately 3,411,872 shares traded hands during trading, a decline of 16% from the average daily volume of 4,066,277 shares. The stock had previously closed at $5.86.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on the company. Weiss Ratings reiterated a “sell (d-)” rating on shares of Energy Vault in a research note on Wednesday, May 27th. Cantor Fitzgerald started coverage on Energy Vault in a research note on Tuesday, May 5th. They issued an “overweight” rating and a $7.00 price objective for the company. Fundamental Research set a $6.05 target price on shares of Energy Vault and gave the stock a “buy” rating in a research note on Tuesday, March 24th. The Goldman Sachs Group increased their target price on shares of Energy Vault from $1.75 to $2.00 and gave the company a “sell” rating in a research report on Thursday, March 19th. Finally, Wall Street Zen lowered shares of Energy Vault from a “hold” rating to a “sell” rating in a research note on Saturday, May 23rd. Two analysts have rated the stock with a Buy rating and three have given a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Reduce” and an average target price of $5.02.

Energy Vault Stock Performance

The company has a current ratio of 1.44, a quick ratio of 1.44 and a debt-to-equity ratio of 4.94. The stock has a market capitalization of $1.14 billion, a price-to-earnings ratio of -9.09 and a beta of 1.15. The firm’s fifty day moving average price is $4.32 and its 200 day moving average price is $4.23.

Energy Vault (NYSE:NRGV) last released its quarterly earnings results on Tuesday, May 5th. The company reported ($0.20) EPS for the quarter, missing analysts’ consensus estimates of ($0.15) by ($0.05). The firm had revenue of $21.88 million for the quarter, compared to analyst estimates of $20.72 million. Energy Vault had a negative return on equity of 171.09% and a negative net margin of 52.97%. Analysts forecast that Energy Vault Holdings, Inc. will post -0.61 EPS for the current fiscal year.

Insider Activity

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 value of $206,700.00. Following the completion of the transaction, 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 document filed with the SEC, which can be accessed through the SEC website. Corporate insiders own 17.20% of the company’s stock.

Institutional Investors Weigh In On Energy Vault

Hedge funds have recently bought and sold shares of the stock. State Street Corp increased its stake in shares of 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 buying an additional 5,181,624 shares during the period. Legal & General Group Plc acquired a new stake in shares of Energy Vault in the 4th quarter valued at $18,217,000. Millennium Management LLC lifted its position in shares of Energy Vault by 141.2% during the 3rd quarter. Millennium Management LLC now owns 5,858,734 shares of the company’s stock worth $17,400,000 after purchasing an additional 3,430,094 shares during the last quarter. Invesco Ltd. purchased a new position in Energy Vault in the fourth quarter valued at $11,454,000. Finally, Marshall Wace LLP raised 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 in the last quarter. Institutional investors and hedge funds own 40.03% of the company’s stock.

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.