Energy Vault (NYSE:NRGV) Lowered to Strong Sell Rating by Wall Street Zen

Wall Street Zen lowered shares of Energy Vault (NYSE:NRGV) from a sell rating to a strong sell rating in a report released on Saturday.

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

Energy Vault Stock Up 2.7%

Shares of NYSE:NRGV opened at $3.79 on Friday. The firm has a market capitalization of $675.39 million, a PE ratio of -5.74 and a beta of 1.21. The company has a debt-to-equity ratio of 24.07, a quick ratio of 1.44 and a current ratio of 1.19. Energy Vault has a 52-week low of $1.40 and a 52-week high of $6.64. The firm has a fifty day moving average of $3.70 and a 200 day moving average of $3.94.

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

Insider Transactions at Energy Vault

In related news, CFO Michael Thomas Beer sold 65,000 shares of the business’s stock in a transaction dated Monday, July 6th. The stock was sold at an average price of $4.08, for a total transaction of $265,200.00. Following the transaction, the chief financial officer owned 1,021,806 shares in the company, valued at $4,168,968.48. The trade was a 5.98% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 17.20% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Energy Vault

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. BlackRock Inc. purchased a new position in shares of Energy Vault during the second quarter valued at about $52,657,000. Millennium Management LLC raised its stake in Energy Vault by 141.2% in the third quarter. Millennium Management LLC now owns 5,858,734 shares of the company’s stock worth $17,400,000 after buying an additional 3,430,094 shares in the last quarter. State Street Corp lifted its holdings in Energy Vault by 1,004.0% in the fourth quarter. State Street Corp now owns 5,697,735 shares of the company’s stock worth $26,267,000 after buying an additional 5,181,624 shares during the period. Legal & General Group Plc purchased a new stake in Energy Vault in the second quarter worth about $25,508,000. Finally, Marshall Wace LLP boosted its position in Energy Vault by 132.7% during the 4th quarter. Marshall Wace LLP now owns 3,194,205 shares of the company’s stock valued at $14,725,000 after acquiring an additional 1,821,462 shares in the last quarter. 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.