Energy Vault (NYSE:NRGV) Releases Earnings Results, Beats Estimates By $0.05 EPS

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.

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

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.