Wall Street Zen Downgrades Energy Vault (NYSE:NRGV) to Strong Sell

Energy Vault (NYSE:NRGV) was downgraded by equities research analysts at Wall Street Zen from a “sell” rating to a “strong sell” rating in a research note issued on Saturday.

A number of other brokerages have also issued reports on NRGV. Citigroup raised shares of Energy Vault from a “neutral” rating to a “buy” rating and cut their price target for the stock from $5.25 to $5.00 in a report on Wednesday, July 22nd. Weiss Ratings lowered shares of Energy Vault from a “sell (d-)” rating to a “sell (e+)” rating in a report on Wednesday. Cantor Fitzgerald reissued an “overweight” rating and issued a $7.00 target price on shares of Energy Vault in a research note on Wednesday, August 12th. Roth Capital restated a “buy” rating and set a $7.00 price target (up from $5.00) on shares of Energy Vault in a report on Wednesday. Finally, Zacks Research upgraded Energy Vault from a “strong sell” rating to a “hold” rating in a report on Monday, July 6th. Four analysts have rated the stock with a Buy rating, one has assigned a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $5.41.

Energy Vault Trading Down 0.0%

NYSE NRGV opened at $3.79 on Friday. The stock has a 50-day moving average of $3.70 and a 200-day moving average of $3.94. The company has a current ratio of 1.19, a quick ratio of 1.19 and a debt-to-equity ratio of 24.07. Energy Vault has a 1-year low of $1.40 and a 1-year high of $6.64. The firm has a market cap of $675.39 million, a PE ratio of -5.74 and a beta of 1.21.

Energy Vault (NYSE:NRGV) last announced 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). Energy Vault had a negative return on equity of 236.83% and a negative net margin of 48.58%.The company had revenue of $17.37 million during the quarter, compared to analysts’ expectations of $14.24 million. As a group, sell-side analysts forecast that Energy Vault will post -0.56 EPS for the current year.

Insider Buying and Selling at Energy Vault

In other news, CFO Michael Thomas Beer sold 65,000 shares of the company’s stock in a transaction dated Monday, July 6th. The shares were sold at an average price of $4.08, for a total value of $265,200.00. Following the sale, the chief financial officer directly owned 1,021,806 shares of the company’s stock, valued at $4,168,968.48. This represents a 5.98% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 17.20% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Forte Asset Management LLC purchased a new stake in shares of Energy Vault in the first quarter worth $33,000. Mercer Global Advisors Inc. ADV purchased a new position in shares of Energy Vault in the 3rd quarter worth about $36,000. XTX Topco Ltd purchased a new position in shares of Energy Vault in the 2nd quarter worth about $39,000. Banco BTG Pactual S.A. bought a new position in Energy Vault in the 3rd quarter worth about $43,000. Finally, Calamos Advisors LLC bought a new position in Energy Vault in the 1st quarter worth about $48,000. Institutional investors own 40.03% of the company’s stock.

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.