Energy Vault (NYSE:NRGV) Shares Down 7.9% - Here's Why

Key Points

• Energy Vault shares fell 7.9% on Friday, trading as low as $2.98 after closing at $3.25 the day before, with volume well below its average.
• Analyst sentiment is mixed: while some firms maintain buy/overweight views with targets up to $7, the consensus rating remains Hold with an average price target of $5.01.
• The company recently missed earnings expectations, reporting a loss of $0.20 per share versus an expected loss of $0.15, even though revenue topped estimates at $21.88 million.

Energy Vault Holdings, Inc. (NYSE:NRGV - Get Free Report) shares traded down 7.9% on Friday . The company traded as low as $2.98 and last traded at $2.9920. Approximately 812,787 shares were traded during mid-day trading, a decline of 82% from the average daily volume of 4,482,901 shares. The stock had previously closed at $3.25.

Wall Street Analyst Weigh In

NRGV has been the subject of a number of research reports. Cantor Fitzgerald initiated coverage on shares of Energy Vault in a research note on Tuesday, May 5th. They set an "overweight" rating and a $7.00 target price for the company. Citigroup raised shares of Energy Vault from a "neutral" rating to a "buy" rating and decreased their target price for the stock from $5.25 to $5.00 in a research report on Wednesday. Wall Street Zen lowered shares of Energy Vault from a "hold" rating to a "sell" rating in a research note on Saturday, May 23rd. Zacks Research upgraded shares of Energy Vault from a "strong sell" rating to a "hold" rating in a report on Monday, July 6th. Finally, Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Energy Vault in a research note on Wednesday, May 27th. Three equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and two have assigned a Sell rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Hold" and a consensus target price of $5.01.

Energy Vault Stock Performance

The stock has a fifty day moving average price of $4.39 and a 200 day moving average price of $4.20. The company has a current ratio of 1.44, a quick ratio of 1.44 and a debt-to-equity ratio of 4.94. The firm has a market cap of $532.08 million, a price-to-earnings ratio of -4.23 and a beta of 1.17.

Energy Vault (NYSE:NRGV - Get Free Report) last announced its earnings results on Tuesday, May 5th. The company reported ($0.20) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.15) by ($0.05). Energy Vault had a negative return on equity of 171.09% and a negative net margin of 52.97%.The company had revenue of $21.88 million for the quarter, compared to the consensus estimate of $20.72 million. As a group, analysts predict that Energy Vault Holdings, Inc. will post -0.61 earnings per share for the current year.

Insider Activity

In related news, CFO Michael Thomas Beer sold 65,000 shares of the firm's stock in a transaction on Monday, July 6th. The shares were sold at an average price of $4.08, for a total value of $265,200.00. Following the transaction, the chief financial officer directly owned 1,021,806 shares in the company, valued at approximately $4,168,968.48. This trade represents a 5.98% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Corporate insiders own 17.20% of the company's stock.

Hedge Funds Weigh In On Energy Vault

Large investors have recently made changes to their positions in the business. Forte Asset Management LLC acquired a new position in shares of Energy Vault during the first quarter worth approximately $33,000. Kovack Advisors Inc. bought a new position in shares of Energy Vault during the 4th quarter worth about $49,000. Hsbc Holdings PLC acquired a new position in shares of Energy Vault during the fourth quarter valued at about $53,000. Mercer Global Advisors Inc. ADV acquired a new position in shares of Energy Vault during the third quarter valued at about $36,000. Finally, Twinbeech Capital LP bought a new stake in shares of Energy Vault in the fourth quarter valued at about $66,000. Institutional investors and hedge funds own 40.03% of the company's stock.

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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