Energy Vault (NYSE:NRGV - Get Free Report) released its earnings results on Monday. The company reported ($0.08) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.13) by $0.05, Zacks reports. Energy Vault had a negative return on equity of 47.41% and a negative net margin of 73.37%. The firm had revenue of $8.53 million during the quarter, compared to analysts' expectations of $25.04 million. Energy Vault updated its FY 2025 guidance to EPS.
Energy Vault Price Performance
Shares of NYSE NRGV traded down $0.00 during mid-day trading on Friday, hitting $0.90. The company had a trading volume of 1,108,582 shares, compared to its average volume of 1,164,930. The company has a market capitalization of $138.82 million, a PE ratio of -1.38 and a beta of 0.72. Energy Vault has a 1-year low of $0.60 and a 1-year high of $2.70. The business's 50-day simple moving average is $0.81 and its 200 day simple moving average is $1.45.
Wall Street Analysts Forecast Growth
A number of brokerages recently issued reports on NRGV. The Goldman Sachs Group decreased their price target on Energy Vault from $1.00 to $0.75 and set a "sell" rating for the company in a research note on Wednesday, March 19th. TD Cowen lowered their price target on Energy Vault from $2.50 to $2.00 and set a "buy" rating for the company in a research report on Tuesday, March 18th. Finally, Roth Mkm decreased their price objective on Energy Vault from $2.50 to $1.50 and set a "buy" rating for the company in a report on Thursday, March 20th.
Get Our Latest Analysis on Energy Vault
Insider Activity at Energy Vault
In other news, insider Akshay Ladwa sold 57,033 shares of the business's stock in a transaction on Tuesday, April 29th. The shares were sold at an average price of $0.71, for a total transaction of $40,493.43. Following the completion of the sale, the insider now directly owns 2,213,618 shares of the company's stock, valued at $1,571,668.78. The trade was a 2.51% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Robert Piconi sold 40,277 shares of the company's stock in a transaction on Friday, May 16th. The stock was sold at an average price of $0.94, for a total transaction of $37,860.38. Following the sale, the chief executive officer now directly owns 20,053,987 shares of the company's stock, valued at approximately $18,850,747.78. This trade represents a 0.20% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 182,938 shares of company stock valued at $139,150 over the last quarter. 15.40% of the stock is owned by insiders.
Institutional Investors Weigh In On Energy Vault
A number of institutional investors have recently modified their holdings of the stock. AQR Capital Management LLC raised its stake in shares of Energy Vault by 381.1% during the first quarter. AQR Capital Management LLC now owns 105,296 shares of the company's stock valued at $73,000 after purchasing an additional 83,410 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in shares of Energy Vault by 201.9% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 177,395 shares of the company's stock worth $125,000 after buying an additional 118,641 shares during the period. Finally, Goldman Sachs Group Inc. boosted its position in shares of Energy Vault by 4.2% in the first quarter. Goldman Sachs Group Inc. now owns 398,476 shares of the company's stock worth $277,000 after buying an additional 16,101 shares during the period. Institutional investors and hedge funds own 40.03% of the company's stock.
About Energy Vault
(
Get Free Report)
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.
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