Energy Vault (NYSE:NRGV) Upgraded to Hold at Zacks Research

Zacks Research upgraded shares of Energy Vault (NYSE:NRGV) from a strong sell rating to a hold rating in a research note issued to investors on Monday,Zacks.com reports.

Several other research analysts also recently issued reports on the stock. Weiss Ratings reiterated a “sell (d-)” rating on shares of Energy Vault in a research report on Wednesday, May 27th. 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. Wall Street Zen lowered shares of Energy Vault from a “hold” rating to a “sell” rating in a research report on Saturday, May 23rd. Citigroup began coverage on shares of Energy Vault in a research note on Thursday, June 11th. They set a “neutral” rating and a $5.25 price target on the stock. Finally, 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 report on Thursday, March 19th. Two investment analysts have rated the stock with a Buy rating, two have given a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat, Energy Vault has an average rating of “Hold” and a consensus price target of $5.08.

Energy Vault Stock Down 7.6%

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

Energy Vault (NYSE:NRGV) last issued its quarterly earnings data on Tuesday, May 5th. The company reported ($0.20) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.15) by ($0.05). The business had revenue of $21.88 million during the quarter, compared to the consensus estimate of $20.72 million. Energy Vault had a negative net margin of 52.97% and a negative return on equity of 171.09%. As a group, sell-side analysts forecast that Energy Vault will post -0.61 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. Millennium Management LLC grew 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 buying an additional 3,430,094 shares during the period. State Street Corp lifted its holdings in Energy Vault by 1,004.0% in the fourth quarter. State Street Corp now owns 5,697,735 shares of the company’s stock valued at $26,267,000 after buying an additional 5,181,624 shares during the period. Legal & General Group Plc bought a new position in Energy Vault in the fourth quarter valued at approximately $18,217,000. Marshall Wace LLP boosted 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 acquiring an additional 1,821,462 shares during the last quarter. Finally, Invesco Ltd. acquired a new stake in Energy Vault during the 4th quarter worth $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.