Energy Vault Holdings, Inc. (NYSE:NRGV) Receives Average Rating of “Hold” from Brokerages

Shares of Energy Vault Holdings, Inc. (NYSE:NRGV) have received an average rating of “Hold” from the seven analysts that are presently covering the company, MarketBeat Ratings reports. Two analysts have rated the stock with a sell recommendation, one has issued a hold recommendation and four have assigned a buy recommendation to the company. The average 1-year target price among brokerages that have covered the stock in the last year is $6.01.

A number of equities analysts have recently issued reports on NRGV shares. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $7.00 price target on shares of Energy Vault in a research report on Wednesday, August 12th. Weiss Ratings downgraded Energy Vault from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Wednesday, August 12th. Citigroup upped their price target on Energy Vault from $5.00 to $6.00 and gave the stock a “buy” rating in a research report on Thursday, August 20th. Zacks Research raised Energy Vault from a “strong sell” rating to a “hold” rating in a research report on Monday, July 6th. Finally, Wall Street Zen downgraded Energy Vault from a “sell” rating to a “strong sell” rating in a research report on Saturday, August 15th.

Insider Buying and Selling at Energy Vault

In related news, Director Stephanie Unwin sold 115,000 shares of the company’s stock in a transaction on Wednesday, August 26th. The stock was sold at an average price of $3.71, for a total value of $426,650.00. Following the transaction, the director directly owned 182,245 shares of the company’s stock, valued at $676,128.95. This represents a 38.69% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Dylan Hixon bought 85,518 shares of the business’s stock in a transaction that occurred on Friday, August 14th. The stock was purchased at an average cost of $3.74 per share, for a total transaction of $319,837.32. Following the completion of the transaction, the director owned 1,103,185 shares in the company, valued at $4,125,911.90. This trade represents a 8.40% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. 17.20% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Energy Vault

Hedge funds have recently made changes to their positions in the company. BlackRock Inc. acquired a new position in shares of Energy Vault in the 2nd quarter valued at $52,657,000. Legal & General Group Plc acquired a new position in shares of Energy Vault in the 2nd quarter valued at $25,508,000. SailingStone Capital Partners LLC increased its position in shares of Energy Vault by 0.5% in the 2nd quarter. SailingStone Capital Partners LLC now owns 4,469,075 shares of the company’s stock valued at $21,049,000 after acquiring an additional 24,058 shares during the period. UBS Group AG increased its position in shares of Energy Vault by 940.1% in the 4th quarter. UBS Group AG now owns 1,541,087 shares of the company’s stock valued at $7,104,000 after acquiring an additional 1,392,923 shares during the period. Finally, J. Goldman & Co LP acquired a new position in shares of Energy Vault in the 2nd quarter valued at $7,085,000. 40.03% of the stock is owned by institutional investors and hedge funds.

Energy Vault Stock Down 4.2%

Shares of NRGV stock traded down $0.17 during trading hours on Monday, reaching $3.78. 684,267 shares of the company’s stock were exchanged, compared to its average volume of 4,493,698. The stock’s 50 day moving average is $3.76 and its 200-day moving average is $4.02. The company has a market cap of $686.45 million, a price-to-earnings ratio of -5.73 and a beta of 1.25. The company has a current ratio of 1.19, a quick ratio of 1.19 and a debt-to-equity ratio of 24.07. Energy Vault has a fifty-two week low of $2.50 and a fifty-two week high of $6.64.

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

Energy Vault Company Profile

Energy Vault Holdings, Inc (NYSE: NRGV) develops and deploys long-duration energy storage systems designed to help utilities, renewable energy developers and industrial customers store electricity and improve grid reliability. Its solutions are intended to complement intermittent renewable power sources such as wind and solar by storing energy when supply is abundant and releasing it when demand is higher.

The company’s portfolio includes gravity-based energy storage systems, which use mechanical structures and heavy materials to store and release energy, as well as battery energy storage solutions.