Energy Vault (NYSE:NRGV) Shares Up 8.3% – Here’s What Happened

Energy Vault Holdings, Inc. (NYSE:NRGV) shares shot up 8.3% during trading on Wednesday . The company traded as high as $3.58 and last traded at $3.4970. 678,613 shares traded hands during mid-day trading, a decline of 81% from the average session volume of 3,593,284 shares. The stock had previously closed at $3.23.

Wall Street Analyst Weigh In

A number of research firms have recently commented on NRGV. 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 report on Thursday, March 19th. Zacks Research downgraded Energy Vault from a “hold” rating to a “strong sell” rating in a research note on Tuesday, February 17th. Fundamental Research set a $6.05 price target on Energy Vault and gave the stock a “buy” rating in a research note on Tuesday, March 24th. Finally, Weiss Ratings restated a “sell (e+)” rating on shares of Energy Vault in a research note on Friday, January 9th. One equities research analyst has rated the stock with a Buy rating and three have given a Sell rating to the company’s stock. According to MarketBeat.com, Energy Vault has a consensus rating of “Reduce” and a consensus price target of $4.03.

Energy Vault Stock Up 4.5%

The business has a 50 day moving average of $3.38 and a 200-day moving average of $3.92. The stock has a market cap of $583.81 million, a PE ratio of -5.22 and a beta of 0.90. The company has a current ratio of 0.73, a quick ratio of 0.73 and a debt-to-equity ratio of 0.56.

Energy Vault (NYSE:NRGV) last posted its quarterly earnings data on Tuesday, March 17th. The company reported ($0.13) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.07) by ($0.06). Energy Vault had a negative return on equity of 106.69% and a negative net margin of 50.87%.The company had revenue of $153.31 million for the quarter, compared to analyst estimates of $152.57 million. Equities research analysts predict that Energy Vault Holdings, Inc. will post -0.64 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, major shareholder Vision Fund (Aiv M2) Softbank sold 3,000,000 shares of the company’s stock in a transaction on Thursday, January 15th. The stock was sold at an average price of $5.65, for a total transaction of $16,950,000.00. Following the transaction, the insider owned 15,535,631 shares of the company’s stock, valued at $87,776,315.15. This represents a 16.19% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Michael Thomas Beer sold 65,000 shares of the company’s 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 $3,373,805.10. This represents a 5.77% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have purchased 16,950 shares of company stock worth $55,062 in the last ninety days. 19.80% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Energy Vault

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Hsbc Holdings PLC acquired a new position in Energy Vault during the fourth quarter worth $53,000. Cambient Family Office LLC acquired a new position in Energy Vault during the fourth quarter worth $320,000. Invesco Ltd. acquired a new position in shares of Energy Vault in the fourth quarter worth $11,454,000. Beartown Capital Management LLC acquired a new position in shares of Energy Vault in the fourth quarter worth $2,766,000. Finally, Mercer Global Advisors Inc. ADV raised its holdings in shares of Energy Vault by 70.0% in the fourth quarter. Mercer Global Advisors Inc. ADV now owns 20,808 shares of the company’s stock worth $96,000 after acquiring an additional 8,570 shares during the last quarter. 40.03% of the stock is owned by institutional investors and hedge funds.

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.