Energy Vault (NYSE:NRGV) Shares Up 6.8% – Here’s Why

Energy Vault Holdings, Inc. (NYSE:NRGV)’s stock price rose 6.8% during trading on Wednesday . The company traded as high as $3.38 and last traded at $3.3740. Approximately 254,538 shares changed hands during trading, a decline of 93% from the average daily volume of 3,447,771 shares. The stock had previously closed at $3.16.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the stock. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Energy Vault in a research report on Friday, January 9th. The Goldman Sachs Group raised their price target on Energy Vault from $1.50 to $2.00 and gave the company a “sell” rating in a report on Wednesday, November 12th. Zacks Research cut Energy Vault from a “hold” rating to a “strong sell” rating in a research report on Tuesday, February 17th. Finally, Fundamental Research set a $5.19 price target on shares of Energy Vault and gave the company a “buy” rating in a report on Tuesday, November 18th. Three investment analysts have rated the stock with a Buy rating and three have given a Sell rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $2.67.

Energy Vault Stock Up 4.0%

The company has a debt-to-equity ratio of 0.39, a quick ratio of 0.59 and a current ratio of 0.63. The company has a fifty day moving average price of $4.36 and a 200-day moving average price of $3.73. The firm has a market capitalization of $551.19 million, a PE ratio of -3.46 and a beta of 0.98.

Insider Buying and Selling

In other Energy Vault news, CFO Michael Thomas Beer sold 50,000 shares of the business’s stock in a transaction dated Tuesday, December 23rd. The shares were sold at an average price of $4.91, for a total value of $245,500.00. Following the completion of the sale, the chief financial officer directly owned 1,150,522 shares of the company’s stock, valued at $5,649,063.02. The trade was a 4.16% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, major shareholder Vision Fund (Aiv M2) Softbank sold 3,000,000 shares of the stock in a transaction that occurred on Thursday, January 15th. The stock was sold at an average price of $5.65, for a total value of $16,950,000.00. Following the completion of the transaction, the insider directly owned 15,535,631 shares in the company, valued at approximately $87,776,315.15. This trade represents a 16.19% decrease in their position. The SEC filing for this sale provides additional information. In the last ninety days, insiders have bought 16,950 shares of company stock worth $55,062. Insiders own 19.80% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the company. Millennium Management LLC boosted its stake in Energy Vault by 141.2% in the 3rd quarter. Millennium Management LLC now owns 5,858,734 shares of the company’s stock worth $17,400,000 after purchasing an additional 3,430,094 shares in the last quarter. State Street Corp grew its holdings in Energy Vault by 1,004.0% during the fourth quarter. State Street Corp now owns 5,697,735 shares of the company’s stock worth $26,267,000 after acquiring an additional 5,181,624 shares during the period. Legal & General Group Plc purchased a new position in shares of Energy Vault during the 4th quarter valued at approximately $18,217,000. Marshall Wace LLP boosted its stake in shares of Energy Vault by 132.7% during the 4th quarter. Marshall Wace LLP now owns 3,194,205 shares of the company’s stock worth $14,725,000 after acquiring an additional 1,821,462 shares in the last quarter. Finally, Invesco Ltd. purchased a new stake in shares of Energy Vault in the fourth quarter valued at approximately $11,454,000. Hedge funds and other 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.