Michael Thomas Beer Sells 65,000 Shares of Energy Vault (NYSE:NRGV) Stock

Energy Vault Holdings, Inc. (NYSE:NRGV) CFO Michael Thomas Beer sold 65,000 shares of the firm’s stock in a transaction dated Monday, July 6th. The stock was sold at an average price of $4.08, for a total value of $265,200.00. Following the completion of the transaction, the chief financial officer directly owned 1,021,806 shares in the company, valued at $4,168,968.48. This trade represents a 5.98% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

Energy Vault Trading Up 5.7%

Shares of NYSE:NRGV opened at $3.75 on Friday. The stock has a 50 day moving average of $4.72 and a 200 day moving average of $4.31. The company has a market cap of $669.15 million, a PE ratio of -5.29 and a beta of 1.17. The company has a current ratio of 1.44, a quick ratio of 1.44 and a debt-to-equity ratio of 4.94. Energy Vault Holdings, Inc. has a 12-month low of $0.75 and a 12-month high of $6.64.

Energy Vault (NYSE:NRGV) last released its earnings results 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). Energy Vault had a negative return on equity of 171.09% and a negative net margin of 52.97%.The firm had revenue of $21.88 million during the quarter, compared to analysts’ expectations of $20.72 million. As a group, equities research analysts expect that Energy Vault Holdings, Inc. will post -0.61 EPS for the current year.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on NRGV. Zacks Research upgraded shares of Energy Vault from a “strong sell” rating to a “hold” rating in a research note on Monday. Fundamental Research set a $6.05 price objective on Energy Vault and gave the company a “buy” rating in a research report on Tuesday, March 24th. Cantor Fitzgerald assumed 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. The Goldman Sachs Group increased their target price on Energy Vault from $1.75 to $2.00 and gave the stock a “sell” rating in a research report on Thursday, March 19th. Finally, Wall Street Zen downgraded Energy Vault from a “hold” rating to a “sell” rating in a research note on Saturday, May 23rd. Two research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $5.08.

Hedge Funds Weigh In On Energy Vault

Several institutional investors have recently bought and sold shares of NRGV. Forte Asset Management LLC purchased a new stake in shares of Energy Vault during the 1st quarter valued at about $33,000. Mercer Global Advisors Inc. ADV bought a new stake in Energy Vault during the third quarter worth approximately $36,000. XTX Topco Ltd bought a new stake in Energy Vault during the second quarter worth approximately $39,000. Banco BTG Pactual S.A. purchased a new stake in Energy Vault during the third quarter valued at approximately $43,000. Finally, Calamos Advisors LLC bought a new stake in shares of Energy Vault in the 1st quarter valued at approximately $48,000. Institutional investors own 40.03% of the company’s stock.

About Energy Vault

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.