Energy Vault (NYSE:NRGV) Shares Gap Up After Analyst Upgrade

Key Points

• Energy Vault shares gapped up after Citigroup upgraded the stock from neutral to buy and set a $5.00 price target. The stock opened above its prior close of $3.48 and last traded around $3.56.
• Analyst views remain mixed overall, with recent ratings including both upgrades and downgrades. MarketBeat says the stock’s consensus rating is Hold with an average target price of $5.01.
• The company reported a Q1 EPS loss of $0.20, missing estimates, though revenue of $21.88 million topped expectations. Insiders and institutions have also been active, including CFO Michael Thomas Beer selling 65,000 shares.

Energy Vault Holdings, Inc. (NYSE:NRGV - Get Free Report) shares gapped up before the market opened on Wednesday after Citigroup upgraded the stock from a neutral rating to a buy rating. The stock had previously closed at $3.48, but opened at $3.77. Citigroup now has a $5.00 price target on the stock. Energy Vault shares last traded at $3.5580, with a volume of 1,029,521 shares.

NRGV has been the topic of a number of other research reports. Wall Street Zen downgraded Energy Vault from a "hold" rating to a "sell" rating in a research report on Saturday, May 23rd. Fundamental Research set a $6.05 price objective on shares of Energy Vault and gave the stock a "buy" rating in a research note on Tuesday, March 24th. Weiss Ratings reiterated a "sell (d-)" rating on shares of Energy Vault in a report on Wednesday, May 27th. Cantor Fitzgerald began coverage on shares of Energy Vault in a research report on Tuesday, May 5th. They set an "overweight" rating and a $7.00 target price on the stock. Finally, Zacks Research upgraded shares of Energy Vault from a "strong sell" rating to a "hold" rating in a report on Monday, July 6th. Three investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and two have given 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.

Insider Activity at Energy Vault

In other news, CFO Michael Thomas Beer sold 65,000 shares of Energy Vault stock in a transaction on Monday, July 6th. The shares were sold at an average price of $4.08, for a total transaction of $265,200.00. Following the completion of the sale, the chief financial officer directly owned 1,021,806 shares in the company, valued at approximately $4,168,968.48. The trade was a 5.98% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 17.20% of the company's stock.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the company. Millennium Management LLC boosted its position in Energy Vault by 141.2% in the third quarter. Millennium Management LLC now owns 5,858,734 shares of the company's stock valued at $17,400,000 after buying an additional 3,430,094 shares during the last quarter. State Street Corp boosted its holdings in shares of Energy Vault by 1,004.0% in the 4th quarter. State Street Corp now owns 5,697,735 shares of the company's stock valued at $26,267,000 after acquiring an additional 5,181,624 shares during the last quarter. Legal & General Group Plc purchased a new stake in shares of Energy Vault in the 4th quarter valued at $18,217,000. Marshall Wace LLP increased its stake in shares of Energy Vault by 132.7% in the fourth quarter. Marshall Wace LLP now owns 3,194,205 shares of the company's stock worth $14,725,000 after acquiring an additional 1,821,462 shares during the period. Finally, Invesco Ltd. purchased a new position in shares of Energy Vault during the fourth quarter worth $11,454,000. 40.03% of the stock is currently owned by hedge funds and other institutional investors.

Energy Vault Trading Up 0.7%

The stock has a market cap of $624.93 million, a PE ratio of -4.98 and a beta of 1.17. The company's fifty day moving average is $4.50 and its 200-day moving average is $4.22. The company has a debt-to-equity ratio of 4.94, a current ratio of 1.44 and a quick ratio of 1.44.

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

Energy Vault Company Profile

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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