Cantor Fitzgerald Initiates Coverage on Energy Vault (NYSE:NRGV)

Key Points

• Cantor Fitzgerald initiated coverage of Energy Vault (NRGV) with an "overweight" rating and a $7.00 price target, implying roughly 58% upside from current levels.
• Analyst views are mixed—two Buys vs. three Sells—producing an average recommendation of "Reduce" and a $5.02 target, while the company recently missed EPS expectations and reported a negative net margin of ~50.9%.
• Insiders own 17.2% of the company and the CFO sold 65,000 shares at $3.18 (a 5.77% reduction in his position), while institutional investors hold about 40% of the stock with UBS significantly increasing its stake.

Cantor Fitzgerald started coverage on shares of Energy Vault (NYSE:NRGV - Get Free Report) in a research note issued on Tuesday, MarketBeat reports. The brokerage set an "overweight" rating and a $7.00 price target on the stock. Cantor Fitzgerald's price objective would indicate a potential upside of 58.19% from the stock's current price.

Several other research analysts also recently weighed in on the stock. Zacks Research downgraded shares of Energy Vault from a "hold" rating to a "strong sell" rating in a research note on Tuesday, February 17th. Weiss Ratings reiterated a "sell (e+)" rating on shares of Energy Vault in a research note on Friday, January 9th. Fundamental Research set a $6.05 price objective on shares of Energy Vault and gave the company a "buy" rating in a research note on Tuesday, March 24th. Finally, The Goldman Sachs Group increased their price objective on shares of Energy Vault from $1.75 to $2.00 and gave the company a "sell" rating in a research note on Thursday, March 19th. Two equities research analysts have rated the stock with a Buy rating and three have issued a Sell rating to the stock. According to MarketBeat, the stock presently has an average rating of "Reduce" and an average target price of $5.02.

Energy Vault Price Performance

Shares of NRGV stock opened at $4.43 on Tuesday. The company has a market capitalization of $765.44 million, a PE ratio of -6.81 and a beta of 1.14. The firm has a fifty day simple moving average of $3.48 and a 200-day simple moving average of $3.98. 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 has a twelve month low of $0.65 and a twelve month high of $6.35.

Energy Vault (NYSE:NRGV - Get Free Report) last announced its earnings results on Tuesday, March 17th. The company reported ($0.13) earnings per share for the quarter, missing the consensus estimate of ($0.07) by ($0.06). The firm had revenue of $153.31 million during the quarter, compared to analysts' expectations of $152.57 million. Energy Vault had a negative net margin of 50.87% and a negative return on equity of 106.69%. Equities research analysts anticipate that Energy Vault will post -0.56 earnings per share for the current fiscal year.

Insider Activity

In related news, CFO Michael Thomas Beer sold 65,000 shares of the stock in a transaction dated Monday, April 6th. The shares were sold at an average price of $3.18, for a total value of $206,700.00. Following the sale, the chief financial officer owned 1,060,945 shares of the company's stock, valued at $3,373,805.10. This trade represents a 5.77% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In the last 90 days, insiders have bought 16,950 shares of company stock valued at $55,062. Company insiders own 17.20% of the company's stock.

Institutional Trading of Energy Vault

Several hedge funds have recently bought and sold shares of the company. Cambient Family Office LLC acquired a new position in shares of Energy Vault in the 4th quarter worth approximately $320,000. Legal & General Group Plc acquired a new stake in shares of Energy Vault during the fourth quarter worth approximately $18,217,000. ProShare Advisors LLC acquired a new stake in shares of Energy Vault during the fourth quarter worth approximately $238,000. Covestor Ltd lifted its stake in Energy Vault by 140.0% in the fourth quarter. Covestor Ltd now owns 49,327 shares of the company's stock valued at $227,000 after acquiring an additional 28,773 shares during the last quarter. Finally, UBS Group AG lifted its stake in Energy Vault by 940.1% in the fourth 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 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.

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