Citigroup Upgrades Energy Vault (NYSE:NRGV) to “Hold”

Energy Vault (NYSE:NRGV) was upgraded by equities research analysts at Citigroup to a “hold” rating in a research note issued to investors on Thursday,Zacks.com reports.

NRGV has been the subject of a number of other reports. Wall Street Zen cut Energy Vault from a “hold” rating to a “sell” rating in a research note on Saturday, May 23rd. Weiss Ratings reiterated a “sell (d-)” rating on shares of Energy Vault in a report on Wednesday, May 27th. Fundamental Research set a $6.05 target price on Energy Vault and gave the stock a “buy” rating in a report on Tuesday, March 24th. Zacks Research lowered Energy Vault from a “hold” rating to a “strong sell” rating in a report on Tuesday, February 17th. Finally, Cantor Fitzgerald started coverage on Energy Vault in a report on Tuesday, May 5th. They set an “overweight” rating and a $7.00 target price on the stock. Two equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and three have given a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Reduce” and an average target price of $5.08.

Energy Vault Stock Down 3.2%

Shares of Energy Vault stock opened at $4.30 on Thursday. The company has a quick ratio of 1.44, a current ratio of 1.44 and a debt-to-equity ratio of 4.94. Energy Vault has a 12 month low of $0.65 and a 12 month high of $6.64. The business has a fifty day simple moving average of $4.53 and a 200 day simple moving average of $4.32. The stock has a market cap of $765.76 million, a PE ratio of -6.05 and a beta of 1.15.

Energy Vault (NYSE:NRGV) last announced its quarterly earnings data on Tuesday, May 5th. The company reported ($0.20) EPS for the quarter, missing analysts’ consensus estimates 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 company had revenue of $21.88 million for the quarter, compared to analyst estimates of $20.72 million. Research analysts predict that Energy Vault will post -0.61 EPS for the current year.

Insiders Place Their Bets

In other Energy Vault news, CFO Michael Thomas Beer sold 65,000 shares of Energy Vault stock in a transaction dated Monday, April 6th. The stock was sold at an average price of $3.18, for a total transaction of $206,700.00. Following the transaction, the chief financial officer directly owned 1,060,945 shares in the company, valued at approximately $3,373,805.10. The trade was a 5.77% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 17.20% of the company’s stock.

Institutional Trading of Energy Vault

Institutional investors have recently modified their holdings of the company. RFG Advisory LLC bought a new stake in shares of Energy Vault in the fourth quarter valued at about $1,560,000. UBS Group AG lifted its holdings in shares of Energy Vault by 940.1% in the fourth quarter. UBS Group AG now owns 1,541,087 shares of the company’s stock valued at $7,104,000 after purchasing an additional 1,392,923 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. bought a new stake in shares of Energy Vault in the fourth quarter valued at about $1,805,000. Abacus Wealth Partners LLC bought a new stake in shares of Energy Vault in the fourth quarter valued at about $461,000. Finally, Legal & General Group Plc bought a new stake in shares of Energy Vault in the fourth quarter valued at about $18,217,000. 40.03% of the stock is currently owned by institutional investors.

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.