Zacks Research Upgrades Energy Vault (NYSE:NRGV) to Hold

Energy Vault (NYSE:NRGV) was upgraded by equities researchers at Zacks Research from a “strong sell” rating to a “hold” rating in a research note issued on Monday,Zacks.com reports.

Several other equities analysts have also issued reports on NRGV. Fundamental Research set a $5.19 target price on shares of Energy Vault and gave the company a “buy” rating in a report on Tuesday, November 18th. Weiss Ratings reiterated a “sell (e+)” rating on shares of Energy Vault in a research note on Tuesday, October 14th. Finally, The Goldman Sachs Group increased their target price on Energy Vault from $1.50 to $2.00 and gave the stock a “sell” rating in a research note on Wednesday, November 12th. Three investment analysts have rated the stock with a Buy rating, one has given a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $2.67.

Energy Vault Price Performance

NRGV opened at $5.71 on Monday. The company has a current ratio of 0.63, a quick ratio of 0.59 and a debt-to-equity ratio of 0.39. The company has a market cap of $958.75 million, a price-to-earnings ratio of -6.01 and a beta of 0.91. The stock has a fifty day simple moving average of $4.04 and a two-hundred day simple moving average of $2.71. Energy Vault has a 12-month low of $0.60 and a 12-month high of $5.90.

Energy Vault (NYSE:NRGV) last released its earnings results on Monday, November 10th. The company reported ($0.16) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.10) by ($0.06). The business had revenue of $33.32 million during the quarter, compared to analysts’ expectations of $48.99 million. Energy Vault had a negative return on equity of 119.98% and a negative net margin of 172.61%. Research analysts predict that Energy Vault will post -0.64 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, CFO Michael Thomas Beer sold 50,000 shares of the firm’s stock in a transaction on Tuesday, December 23rd. The stock was 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 approximately $5,649,063.02. This trade represents a 4.16% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Robert Piconi purchased 10,000 shares of the company’s stock in a transaction on Friday, November 14th. The stock was purchased at an average price of $3.00 per share, with a total value of $30,000.00. Following the completion of the transaction, the chief executive officer owned 20,207,242 shares of the company’s stock, valued at approximately $60,621,726. This trade represents a 0.05% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. 19.80% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Energy Vault

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Ground Swell Capital LLC purchased a new position in Energy Vault in the second quarter worth about $26,000. Catalyst Funds Management Pty Ltd bought a new position in shares of Energy Vault during the second quarter valued at approximately $36,000. Mercer Global Advisors Inc. ADV purchased a new stake in shares of Energy Vault in the third quarter worth approximately $36,000. XTX Topco Ltd bought a new stake in shares of Energy Vault during the 2nd quarter worth approximately $39,000. Finally, Platform Technology Partners purchased a new position in Energy Vault during the 3rd quarter valued at $40,000. 40.03% of the stock is owned by institutional investors.

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.