Energy Vault (NYSE:NRGV) Upgraded to Hold at Citigroup

Citigroup upgraded shares of Energy Vault (NYSE:NRGV) to a hold rating in a report published on Thursday,Zacks.com reports.

A number of other equities research analysts have also commented on NRGV. Weiss Ratings restated a “sell (d-)” rating on shares of Energy Vault in a research report on Wednesday, May 27th. Zacks Research lowered Energy Vault from a “hold” rating to a “strong sell” rating in a research report on Tuesday, February 17th. The Goldman Sachs Group increased their price objective on Energy Vault from $1.75 to $2.00 and gave the company a “sell” rating in a research report on Thursday, March 19th. Fundamental Research set a $6.05 price objective on Energy Vault and gave the company a “buy” rating in a research report on Tuesday, March 24th. Finally, Wall Street Zen lowered Energy Vault from a “hold” rating to a “sell” rating in a research report on Saturday, May 23rd. Two analysts have rated the stock with a Buy rating, one has issued a Hold rating and three have issued a Sell rating to the company. Based on data from MarketBeat.com, Energy Vault currently has an average rating of “Reduce” and a consensus target price of $5.08.

Energy Vault Stock Down 3.2%

NYSE NRGV opened at $4.30 on Thursday. The firm has a market cap of $765.76 million, a PE ratio of -6.05 and a beta of 1.15. Energy Vault has a one year low of $0.65 and a one year high of $6.64. The stock’s 50 day simple moving average is $4.53 and its 200 day simple moving average is $4.32. The company has a debt-to-equity ratio of 4.94, a current ratio of 1.44 and a quick ratio of 1.44.

Energy Vault (NYSE:NRGV) last released its quarterly earnings results on Tuesday, May 5th. The company reported ($0.20) EPS for the quarter, missing analysts’ consensus estimates of ($0.15) by ($0.05). The business had revenue of $21.88 million for the quarter, compared to the consensus estimate of $20.72 million. Energy Vault had a negative return on equity of 171.09% and a negative net margin of 52.97%. As a group, sell-side analysts forecast that Energy Vault will post -0.61 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Energy Vault news, CFO Michael Thomas Beer sold 65,000 shares of the stock in a transaction on Monday, April 6th. The stock was sold at an average price of $3.18, for a total value 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. This trade represents a 5.77% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 17.20% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. Forte Asset Management LLC acquired a new position in shares of Energy Vault in the 1st quarter valued at $33,000. Kovack Advisors Inc. acquired a new position in shares of Energy Vault in the 4th quarter valued at $49,000. Hsbc Holdings PLC acquired a new position in shares of Energy Vault in the 4th quarter valued at $53,000. Mercer Global Advisors Inc. ADV acquired a new position in shares of Energy Vault in the 3rd quarter valued at $36,000. Finally, Twinbeech Capital LP acquired a new position in shares of Energy Vault in the 4th quarter valued at $66,000. Institutional investors and hedge funds own 40.03% of the company’s stock.

About Energy Vault

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.