Energy Vault (NYSE:NRGV) Stock Price Up 6.1% After Analyst Upgrade

Key Points

• Energy Vault's stock price increased by 6.1% following an upgrade by Goldman Sachs, which raised the price target from $0.50 to $1.50, although the firm maintains a sell rating on the stock.
• Insider transactions show Akshay Ladwa sold 75,000 shares at an average price of $3.11, while CFO Michael Beer sold 50,000 shares at $2.17, indicating a decrease in insider ownership.
• Energy Vault reported a disappointing quarterly earnings result with an EPS of ($0.22), significantly missing the consensus estimate and highlighting ongoing financial struggles.

Shares of Energy Vault Holdings, Inc. (NYSE:NRGV - Get Free Report) traded up 6.1% during mid-day trading on Thursday after The Goldman Sachs Group raised their price target on the stock from $0.50 to $1.50. The Goldman Sachs Group currently has a sell rating on the stock. Energy Vault traded as high as $3.75 and last traded at $3.55. 990,157 shares changed hands during mid-day trading, a decline of 47% from the average session volume of 1,873,531 shares. The stock had previously closed at $3.35.

Separately, Weiss Ratings reiterated a "sell (d-)" rating on shares of Energy Vault in a research report on Saturday, September 27th. Two analysts have rated the stock with a Buy rating and two have issued a Sell rating to the stock. According to MarketBeat.com, Energy Vault currently has a consensus rating of "Hold" and a consensus target price of $1.67.

Insider Transactions at Energy Vault

In other Energy Vault news, insider Akshay Ladwa sold 75,000 shares of the business's stock in a transaction that occurred on Thursday, September 25th. The stock was sold at an average price of $3.11, for a total transaction of $233,250.00. Following the sale, the insider directly owned 1,934,582 shares of the company's stock, valued at $6,016,550.02. The trade was a 3.73% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Michael Thomas Beer sold 50,000 shares of the business's stock in a transaction that occurred on Friday, September 12th. The stock was sold at an average price of $2.17, for a total value of $108,500.00. Following the sale, the chief financial officer directly owned 1,216,103 shares in the company, valued at $2,638,943.51. The trade was a 3.95% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders purchased 132,400 shares of company stock valued at $288,130 and sold 266,024 shares valued at $637,479. Company insiders own 15.40% of the company's stock.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of NRGV. Jane Street Group LLC boosted its holdings in shares of Energy Vault by 579.7% in the second quarter. Jane Street Group LLC now owns 945,705 shares of the company's stock valued at $678,000 after purchasing an additional 806,576 shares during the period. Private Capital Advisors Inc. increased its position in shares of Energy Vault by 41.0% during the second quarter. Private Capital Advisors Inc. now owns 687,260 shares of the company's stock worth $493,000 after purchasing an additional 200,000 shares in the last quarter. Goldman Sachs Group Inc. increased its position in shares of Energy Vault by 4.2% in the 1st quarter. Goldman Sachs Group Inc. now owns 398,476 shares of the company's stock valued at $277,000 after acquiring an additional 16,101 shares during the period. Marshall Wace LLP acquired a new position in shares of Energy Vault in the 2nd quarter valued at $206,000. Finally, Nuveen LLC acquired a new stake in Energy Vault during the 1st quarter worth about $190,000. Hedge funds and other institutional investors own 40.03% of the company's stock.

Energy Vault Trading Up 2.3%

The company has a current ratio of 0.66, a quick ratio of 0.66 and a debt-to-equity ratio of 0.11. The company has a fifty day moving average of $2.14 and a 200-day moving average of $1.29. The company has a market capitalization of $554.82 million, a price-to-earnings ratio of -3.57 and a beta of 0.93.

Energy Vault (NYSE:NRGV - Get Free Report) last released 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). Energy Vault had a negative net margin of 279.38% and a negative return on equity of 96.64%. The firm had revenue of $8.51 million for the quarter, compared to analysts' expectations of $31.18 million. Energy Vault has set its FY 2025 guidance at EPS. As a group, equities research analysts anticipate that Energy Vault Holdings, Inc. will post -0.64 earnings per share for the current fiscal year.

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.

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