Energy Vault (NYSE:NRGV) Raised to “Hold” at Zacks Research

Energy Vault (NYSE:NRGV) was upgraded by investment analysts at Zacks Research from a “strong sell” rating to a “hold” rating in a report released on Monday,Zacks.com reports.

Several other analysts have also weighed in on NRGV. Fundamental Research set a $6.05 price objective on Energy Vault and gave the stock a “buy” rating in a report on Tuesday, March 24th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Energy Vault in a research report on Wednesday, May 27th. The Goldman Sachs Group lifted their price target on shares of Energy Vault from $1.75 to $2.00 and gave the stock a “sell” rating in a research note on Thursday, March 19th. Cantor Fitzgerald assumed coverage on shares of Energy Vault in a report on Tuesday, May 5th. They issued an “overweight” rating and a $7.00 price target on the stock. Finally, Citigroup began coverage on shares of Energy Vault in a research note on Thursday, June 11th. They issued a “neutral” rating and a $5.25 price objective for the company. Two research analysts have rated the stock with a Buy rating, two have given a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $5.08.

Energy Vault Trading Down 7.6%

Shares of NRGV stock opened at $3.81 on Monday. Energy Vault has a 1 year low of $0.75 and a 1 year high of $6.64. The firm’s fifty day simple moving average is $4.75 and its 200 day simple moving average is $4.33. The firm has a market capitalization of $678.24 million, a P/E ratio of -5.36 and a beta of 1.17. The company has a current ratio of 1.44, a quick ratio of 1.44 and a debt-to-equity ratio of 4.94.

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

Institutional Investors Weigh In On Energy Vault

Large investors have recently bought and sold shares of the business. State Street Corp lifted its position in Energy Vault by 1,004.0% during the 4th quarter. State Street Corp now owns 5,697,735 shares of the company’s stock worth $26,267,000 after buying an additional 5,181,624 shares in the last quarter. Legal & General Group Plc acquired a new stake in Energy Vault in the 4th quarter valued at about $18,217,000. Millennium Management LLC increased its position in Energy Vault by 141.2% in the 3rd quarter. Millennium Management LLC now owns 5,858,734 shares of the company’s stock valued at $17,400,000 after acquiring an additional 3,430,094 shares in the last quarter. Invesco Ltd. bought a new position in shares of Energy Vault in the fourth quarter worth about $11,454,000. Finally, Marshall Wace LLP lifted its position in shares of Energy Vault by 132.7% during the fourth quarter. Marshall Wace LLP now owns 3,194,205 shares of the company’s stock worth $14,725,000 after purchasing an additional 1,821,462 shares in the last quarter. 40.03% of the stock is currently owned by institutional investors.

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.