Energy Vault (NYSE:NRGV) Price Target Raised to $2.00

Energy Vault (NYSE:NRGV) had its target price boosted by The Goldman Sachs Group from $1.75 to $2.00 in a research note issued to investors on Thursday,Benzinga reports. The Goldman Sachs Group currently has a sell rating on the stock.

NRGV has been the subject of several other research reports. Zacks Research downgraded shares of Energy Vault from a “hold” rating to a “strong sell” rating in a report on Tuesday, February 17th. Weiss Ratings restated a “sell (e+)” rating on shares of Energy Vault in a research report on Friday, January 9th. One equities research analyst has rated the stock with a Buy rating and three have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Reduce” and an average price target of $3.60.

Energy Vault Trading Down 10.6%

Shares of NRGV stock opened at $3.33 on Thursday. The company has a debt-to-equity ratio of 0.56, a quick ratio of 0.59 and a current ratio of 0.73. Energy Vault has a 1 year low of $0.60 and a 1 year high of $6.35. The stock has a fifty day moving average of $4.09 and a two-hundred day moving average of $3.80. The firm has a market capitalization of $557.90 million, a PE ratio of -5.12 and a beta of 0.98.

Energy Vault (NYSE:NRGV) last released its quarterly earnings results on Tuesday, March 17th. The company reported ($0.13) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.07) by ($0.06). The business had revenue of $153.31 million during the quarter, compared to the consensus estimate of $152.57 million. Energy Vault had a negative return on equity of 106.69% and a negative net margin of 50.87%. As a group, research analysts expect that Energy Vault will post -0.64 EPS for the current year.

Insiders Place Their Bets

In other news, major shareholder Vision Fund (Aiv M2) Softbank sold 3,000,000 shares of the business’s stock in a transaction on Thursday, January 15th. The stock was sold at an average price of $5.65, for a total value of $16,950,000.00. Following the sale, the insider owned 15,535,631 shares of the company’s stock, valued at approximately $87,776,315.15. The trade was a 16.19% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Michael Thomas Beer sold 50,000 shares of the firm’s stock in a transaction dated Tuesday, December 23rd. The shares were sold at an average price of $4.91, for a total value of $245,500.00. Following the transaction, the chief financial officer directly owned 1,150,522 shares of the company’s stock, valued at $5,649,063.02. This represents a 4.16% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders bought a total of 16,950 shares of company stock worth $55,062 in the last three months. Company insiders own 15.40% of the company’s stock.

Hedge Funds Weigh In On Energy Vault

Several large investors have recently made changes to their positions in the business. Catalyst Funds Management Pty Ltd acquired a new position in shares of Energy Vault in the 2nd quarter worth approximately $36,000. 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. Platform Technology Partners bought a new stake in Energy Vault during the third quarter worth approximately $40,000. Finally, Banco BTG Pactual S.A. acquired a new position in Energy Vault in the third quarter worth approximately $43,000. 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.