Energy Vault (NYSE:NRGV) Shares Climb 9.7% – Still a Buy?

Energy Vault Holdings, Inc. (NYSE:NRGV) shares rose 9.7% during mid-day trading on Tuesday. The stock traded as high as $2.81 and last traded at $2.8750. Approximately 387,269 shares were traded during mid-day trading, a decline of 91% from the average daily volume of 4,448,575 shares. The stock had previously closed at $2.62.

Analyst Upgrades and Downgrades

Several research firms have commented on NRGV. Zacks Research raised shares of Energy Vault from a “strong sell” rating to a “hold” rating in a research note on Monday, July 6th. Wall Street Zen cut shares of Energy Vault from a “sell” rating to a “strong sell” rating in a research report on Saturday, August 15th. Cantor Fitzgerald reissued an “overweight” rating and issued a $7.00 price target on shares of Energy Vault in a research note on Wednesday, August 12th. Roth Capital reaffirmed a “buy” rating and set a $7.00 price objective (up from $5.00) on shares of Energy Vault in a research note on Wednesday, August 12th. Finally, Citigroup reduced their price objective on Energy Vault from $6.00 to $4.75 and set a “buy” rating on the stock in a research note on Wednesday, October 21st. Four investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $5.76.

Energy Vault Price Performance

The company has a quick ratio of 1.19, a current ratio of 1.19 and a debt-to-equity ratio of 24.07. The firm’s fifty day moving average price is $3.70 and its 200-day moving average price is $3.98. The stock has a market cap of $539.16 million, a P/E ratio of -4.48 and a beta of 1.25.

Energy Vault (NYSE:NRGV) last posted its quarterly earnings results on Tuesday, August 11th. The company reported ($0.17) EPS for the quarter, missing analysts’ consensus estimates of ($0.14) by ($0.03). The firm had revenue of $17.37 million for the quarter, compared to the consensus estimate of $14.24 million. Energy Vault had a negative net margin of 48.58% and a negative return on equity of 236.83%. Analysts forecast that Energy Vault Holdings, Inc. will post -0.56 earnings per share for the current year.

Insider Transactions at Energy Vault

In other Energy Vault news, Director Dylan Hixon purchased 85,518 shares of the stock in a transaction on Friday, August 14th. The stock was acquired at an average price of $3.74 per share, with a total value of $319,837.32. Following the transaction, the director directly owned 1,103,185 shares of the company’s stock, valued at approximately $4,125,911.90. This trade represents a 8.40% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Stephanie Unwin sold 115,000 shares of the stock in a transaction that occurred on Wednesday, August 26th. The stock was sold at an average price of $3.71, for a total value of $426,650.00. Following the completion of the sale, the director owned 182,245 shares of the company’s stock, valued at approximately $676,128.95. This trade represents a 38.69% decrease in their position. The SEC filing for this sale provides additional information. 17.20% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the stock. BlackRock Inc. purchased a new stake in shares of Energy Vault in the 2nd quarter worth about $52,657,000. Legal & General Group Plc purchased a new stake in Energy Vault in the second quarter worth about $25,508,000. SailingStone Capital Partners LLC grew its holdings in shares of Energy Vault by 0.5% during the 2nd quarter. SailingStone Capital Partners LLC now owns 4,469,075 shares of the company’s stock worth $21,049,000 after acquiring an additional 24,058 shares during the period. J. Goldman & Co LP purchased a new position in shares of Energy Vault during the 2nd quarter worth approximately $7,085,000. Finally, Tidal Investments LLC raised its position in shares of Energy Vault by 105.9% in the 2nd quarter. Tidal Investments LLC now owns 688,592 shares of the company’s stock worth $3,243,000 after acquiring an additional 354,220 shares in the last quarter. 40.03% of the stock is owned by hedge funds and other institutional investors.

About Energy Vault

Energy Vault Holdings, Inc develops and deploys utility-scale energy storage solutions designed to help integrate renewable power into electric grids. Its technologies are intended to store electricity during periods of excess generation and release it when demand is higher, supporting grid reliability and the broader transition to renewable energy.

The company’s portfolio includes gravity-based energy storage systems, battery energy storage systems and hybrid configurations. Its gravity storage platform, including the EVx system, uses mechanical processes to store and discharge energy, while its battery offerings are designed for applications such as renewable energy integration, capacity management and grid balancing.