Energy Vault (NYSE:NRGV) Sets New 52-Week High – Still a Buy?

Energy Vault Holdings, Inc. (NYSE:NRGV)’s stock price hit a new 52-week high on Thursday . The company traded as high as $4.89 and last traded at $4.8550, with a volume of 901278 shares traded. The stock had previously closed at $4.66.

Analysts Set New Price Targets

Several research firms have recently issued reports on NRGV. Zacks Research lowered shares of Energy Vault from a “hold” rating to a “strong sell” rating in a research report on Wednesday, October 15th. Weiss Ratings restated a “sell (e+)” rating on shares of Energy Vault in a research report on Tuesday, October 14th. Fundamental Research set a $5.19 price objective on Energy Vault and gave the stock a “buy” rating in a report on Tuesday, November 18th. Finally, The Goldman Sachs Group increased their price objective on Energy Vault from $1.50 to $2.00 and gave the stock a “sell” rating in a research report on Wednesday, November 12th. Three investment analysts have rated the stock with a Buy rating and three have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $2.67.

Energy Vault Stock Performance

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 business’s 50 day moving average is $3.59 and its 200 day moving average is $2.21. The stock has a market capitalization of $823.01 million, a PE ratio of -5.16 and a beta of 0.95.

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

Insider Buying and Selling at Energy Vault

In other news, insider Akshay Ladwa sold 75,000 shares of the stock in a transaction that occurred on Thursday, September 25th. The shares were sold at an average price of $3.11, for a total transaction of $233,250.00. Following the transaction, the insider directly owned 1,934,582 shares in the company, valued at approximately $6,016,550.02. This trade represents a 3.73% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Robert Piconi acquired 10,000 shares of the business’s stock in a transaction that occurred on Friday, November 14th. The shares were acquired at an average cost of $3.00 per share, for a total transaction of $30,000.00. Following the completion of the acquisition, the chief executive officer owned 20,207,242 shares of the company’s stock, valued at $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. Insiders acquired a total of 77,500 shares of company stock valued at $197,850 over the last quarter. Company insiders own 15.40% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Millennium Management LLC boosted its stake in shares of 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 during the last quarter. Jane Street Group LLC grew its holdings in shares of Energy Vault by 579.7% during the second quarter. Jane Street Group LLC now owns 945,705 shares of the company’s stock worth $678,000 after buying an additional 806,576 shares in the last quarter. Vanguard Group Inc. lifted its stake in Energy Vault by 20.4% in the 3rd quarter. Vanguard Group Inc. now owns 1,823,443 shares of the company’s stock worth $5,416,000 after purchasing an additional 308,509 shares in the last quarter. Marshall Wace LLP acquired a new position in Energy Vault during the second quarter worth $206,000. Finally, Nuveen LLC acquired a new stake in shares of Energy Vault during the 1st quarter worth approximately $190,000. 40.03% of the stock is currently owned by hedge funds and other institutional investors.

Energy Vault Company Profile

Energy Vault Holdings, Inc develops and sells energy storage solutions. The company offers B-Vault, an electrochemical battery energy storage systems for shorter-duration energy storage needs; G-Vault, a proprietary gravity energy storage solution, including EVx solution; and H-Vault, a hybrid energy storage systems including systems that integrate green hydrogen.