Energy Vault (NYSE:NRGV) Shares Down 17.4% – Here’s What Happened

Energy Vault Holdings, Inc. (NYSE:NRGV)’s stock price fell 17.4% during mid-day trading on Wednesday . The company traded as low as $3.62 and last traded at $3.5450. 1,787,097 shares were traded during trading, a decline of 12% from the average session volume of 2,023,718 shares. The stock had previously closed at $4.29.

Analyst Ratings Changes

NRGV has been the subject of a number of recent analyst reports. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Energy Vault in a research report on Tuesday, October 14th. The Goldman Sachs Group upped their target price on Energy Vault from $1.50 to $2.00 and gave the company a “sell” rating in a report on Wednesday. Fundamental Research set a $4.87 price objective on shares of Energy Vault and gave the company a “buy” rating in a research report on Tuesday. Finally, Zacks Research cut shares of Energy Vault from a “hold” rating to a “strong sell” rating in a research report on Wednesday, October 15th. Three analysts have rated the stock with a Buy rating and three have given a Sell rating to the stock. According to MarketBeat.com, Energy Vault has an average rating of “Hold” and a consensus target price of $2.59.

Energy Vault Stock Down 20.7%

The stock has a market capitalization of $550.45 million, a PE ratio of -3.58 and a beta of 0.94. The stock’s 50-day moving average price is $3.12 and its two-hundred day moving average price is $1.78. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.66 and a current ratio of 0.66.

Energy Vault (NYSE:NRGV) last announced its quarterly earnings data on Monday, November 10th. The company reported ($0.16) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.10) by ($0.06). Energy Vault had a negative return on equity of 111.85% and a negative net margin of 172.61%.The business had revenue of $33.32 million during the quarter, compared to analysts’ expectations of $48.99 million. Energy Vault has set its FY 2025 guidance at EPS. As a group, analysts expect that Energy Vault Holdings, Inc. will post -0.64 EPS for the current fiscal year.

Insider Buying and Selling

In related news, Director Dylan Hixon purchased 20,000 shares of Energy Vault stock in a transaction dated Friday, August 29th. The stock was purchased at an average cost of $1.92 per share, for a total transaction of $38,400.00. Following the completion of the acquisition, the director directly owned 900,065 shares of the company’s stock, valued at $1,728,124.80. The trade was a 2.27% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Akshay Ladwa sold 75,000 shares of Energy Vault stock in a transaction dated Thursday, September 25th. The stock was sold at an average price of $3.11, for a total value of $233,250.00. Following the completion of the transaction, the insider directly owned 1,934,582 shares of the company’s stock, valued at approximately $6,016,550.02. This represents a 3.73% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders bought 132,400 shares of company stock valued at $288,130 and sold 200,000 shares valued at $584,000. Insiders own 19.80% of the company’s stock.

Institutional Investors Weigh In On Energy Vault

Institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. increased its position in shares of Energy Vault by 20.4% during the third quarter. Vanguard Group Inc. now owns 1,823,443 shares of the company’s stock valued at $5,416,000 after acquiring an additional 308,509 shares in the last quarter. Jane Street Group LLC lifted its position in Energy Vault by 579.7% in the 2nd quarter. Jane Street Group LLC now owns 945,705 shares of the company’s stock valued at $678,000 after acquiring an additional 806,576 shares in the last quarter. Private Capital Advisors Inc. boosted its stake in Energy Vault by 41.0% during the 2nd quarter. Private Capital Advisors Inc. now owns 687,260 shares of the company’s stock valued at $493,000 after purchasing an additional 200,000 shares during the last quarter. Goldman Sachs Group Inc. increased its holdings in shares of Energy Vault by 4.2% in the 1st quarter. Goldman Sachs Group Inc. now owns 398,476 shares of the company’s stock worth $277,000 after purchasing an additional 16,101 shares in the last quarter. Finally, Marshall Wace LLP purchased a new position in shares of Energy Vault in the second quarter worth $206,000. Hedge funds and other institutional investors own 40.03% of the company’s stock.

Energy Vault Company Profile

Energy Vault Holdings, Inc develops and sells energy storage solutions. The company offers B-Vault, an electrochemical battery energy storage systems for shorter-duration energy storage needs; G-Vault, a proprietary gravity energy storage solution, including EVx solution; and H-Vault, a hybrid energy storage systems including systems that integrate green hydrogen.