Energy Vault (NYSE:NRGV) Upgraded at Wall Street Zen

Key Points

• Wall Street Zen upgraded Energy Vault from “strong sell” to “sell,” while the broader analyst consensus remains “hold,” with an average price target of $6.81.
• Analysts’ views vary: four rate the stock a buy, one a hold and two a sell; price targets cited range from $5.00 to $12.00.
• Energy Vault reported quarterly EPS of -$0.17, missing the -$0.14 consensus, but revenue of $17.37 million exceeded estimates of $14.24 million. The shares were reported up 6.5%.

Energy Vault (NYSE:NRGV - Get Free Report) was upgraded by research analysts at Wall Street Zen from a "strong sell" rating to a "sell" rating in a note issued to investors on Saturday, Wall Street Zen reports.

NRGV has been the topic of several other research reports. Roth Capital reissued a "buy" rating and issued a $7.00 price objective (up from $5.00) on shares of Energy Vault in a research note on Wednesday, August 12th. Citigroup raised their target price on Energy Vault from $4.75 to $5.00 and gave the stock a "buy" rating in a research report on Wednesday. Fundamental Research set a $8.03 target price on Energy Vault and gave the stock a "buy" rating in a research report on Tuesday, August 18th. Cantor Fitzgerald lifted their target price on Energy Vault from $7.00 to $12.00 and gave the stock an "overweight" rating in a report on Wednesday. Finally, Weiss Ratings reiterated a "sell (e+)" rating on shares of Energy Vault in a research report on Tuesday. Four research analysts have rated the stock with a Buy rating, one has given a Hold rating and two have given a Sell rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Hold" and an average target price of $6.81.

Energy Vault Trading Up 6.5%

NRGV opened at $3.85 on Friday. Energy Vault has a fifty-two week low of $2.46 and a fifty-two week high of $6.64. The company has a debt-to-equity ratio of 24.07, a current ratio of 1.19 and a quick ratio of 1.19. The firm has a market capitalization of $699.17 million, a price-to-earnings ratio of -5.74 and a beta of 1.33. The company's 50 day moving average price is $3.59 and its two-hundred day moving average price is $3.83.

Energy Vault (NYSE:NRGV - Get Free Report) last released its quarterly earnings results on Tuesday, August 11th. The company reported ($0.17) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.14) by ($0.03). The business had revenue of $17.37 million for the quarter, compared to the consensus estimate of $14.24 million. Energy Vault had a negative net margin of 54.02% and a negative return on equity of 318.02%. As a group, research analysts predict that Energy Vault will post -0.56 earnings per share for the current year.

Insider Activity at Energy Vault

In other news, Director Dylan Hixon purchased 27,472 shares of the stock in a transaction on Monday, August 17th. The stock was purchased at an average price of $3.88 per share, for a total transaction of $106,591.36. Following the acquisition, the director owned 27,472 shares in the company, valued at $106,591.36. This trade represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Stephanie Unwin sold 115,000 shares of the business's stock in a transaction that occurred on Wednesday, August 26th. The stock was sold at an average price of $3.71, for a total transaction of $426,650.00. Following the completion of the transaction, the director owned 182,245 shares in the company, valued at $676,128.95. This trade represents a 38.69% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 17.20% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Energy Vault

Several hedge funds and other institutional investors have recently bought and sold shares of the company. BlackRock Inc. bought a new stake in Energy Vault during the second quarter valued at $52,657,000. Legal & General Group Plc bought a new position in shares of Energy Vault in the 2nd quarter worth about $25,508,000. SailingStone Capital Partners LLC raised 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 worth $21,049,000 after acquiring an additional 24,058 shares in the last quarter. First Trust Advisors LP acquired a new position in shares of Energy Vault in the 3rd quarter valued at about $11,702,000. Finally, J. Goldman & Co LP acquired a new position in shares of Energy Vault in the 2nd quarter valued at about $7,085,000. Institutional investors and hedge funds own 40.03% of the company's stock.

About Energy Vault

Energy Vault Holdings, Inc. develops energy storage systems designed to help utilities, power producers and other customers store electricity and deliver it when needed. Its offerings include gravity-based storage systems, which use mechanical processes to store and release energy, as well as battery energy storage systems and hybrid solutions. The company also provides VaultOS, a software platform for monitoring and managing energy storage assets. Its systems are intended to support renewable energy integration, grid stability and other energy management needs.

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