Energy Vault (NYSE:NRGV) Shares Gap Down - Here's What Happened

Key Points

• Energy Vault's share price gapped down from $3.88 to $3.65, closing later at $3.69 with significant trading volume of over 1 million shares.
• Analysts have widely downgraded the stock, with Goldman Sachs raising their price target to $1.50 and Zacks downgrading to a "strong sell", resulting in a consensus price target of $1.67.
• The company missed quarterly earnings expectations, reporting a loss of ($0.22) EPS compared to the expected ($0.07), alongside revenue significantly lower than estimates at $8.51 million.

Energy Vault Holdings, Inc. (NYSE:NRGV - Get Free Report)'s share price gapped down before the market opened on Friday . The stock had previously closed at $3.88, but opened at $3.65. Energy Vault shares last traded at $3.69, with a volume of 1,061,942 shares.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the company. The Goldman Sachs Group increased their price target on Energy Vault from $0.50 to $1.50 and gave the stock a "sell" rating in a research report on Wednesday, October 8th. Zacks Research downgraded Energy Vault from a "hold" rating to a "strong sell" rating in a research report on Wednesday. Finally, Weiss Ratings reiterated a "sell (e+)" rating on shares of Energy Vault in a research report on Tuesday. Two investment analysts have rated the stock with a Buy rating and three have issued a Sell rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Reduce" and a consensus price target of $1.67.

Energy Vault Stock Performance

The company has a debt-to-equity ratio of 0.11, a current ratio of 0.66 and a quick ratio of 0.66. The stock has a market cap of $614.24 million, a price-to-earnings ratio of -3.89 and a beta of 0.93. The firm has a fifty day moving average of $2.46 and a 200 day moving average of $1.41.

Energy Vault (NYSE:NRGV - Get Free Report) last posted its quarterly earnings results on Thursday, August 7th. The company reported ($0.22) EPS for the quarter, missing the consensus estimate of ($0.07) by ($0.15). The company had revenue of $8.51 million during the quarter, compared to analyst estimates of $31.18 million. Energy Vault had a negative net margin of 279.38% and a negative return on equity of 96.64%. Energy Vault has set its FY 2025 guidance at EPS. As a group, sell-side analysts forecast that Energy Vault Holdings, Inc. will post -0.64 EPS for the current year.

Insider Transactions at Energy Vault

In other news, CEO Robert Piconi acquired 17,500 shares of the company's stock in a transaction dated Friday, September 19th. The stock was acquired at an average cost of $3.02 per share, with a total value of $52,850.00. Following the completion of the purchase, the chief executive officer owned 20,199,884 shares of the company's stock, valued at $61,003,649.68. This represents a 0.09% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at this link. Also, insider Akshay Ladwa sold 75,000 shares of Energy Vault stock in a transaction on Thursday, September 25th. The shares were sold at an average price of $3.11, for a total value of $233,250.00. Following the completion of the transaction, the insider owned 1,934,582 shares of the company's stock, valued at approximately $6,016,550.02. This trade represents a 3.73% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders acquired 132,400 shares of company stock valued at $288,130 and sold 200,000 shares valued at $584,000. 15.40% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of NRGV. Private Capital Advisors Inc. boosted its holdings in Energy Vault by 766.1% in the first quarter. Private Capital Advisors Inc. now owns 487,260 shares of the company's stock valued at $339,000 after purchasing an additional 431,000 shares during the period. Nuveen LLC purchased a new position in Energy Vault in the first quarter valued at $190,000. AQR Capital Management LLC boosted its holdings in Energy Vault by 381.1% in 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 during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in 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 valued at $125,000 after purchasing an additional 118,641 shares during the period. Finally, Goldman Sachs Group Inc. lifted its holdings in Energy Vault by 4.2% during the 1st 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 last quarter. 40.03% of the stock is currently owned by hedge funds and other institutional investors.

Energy Vault Company Profile

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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