Energy Vault (NYSE:NRGV) Trading Down 9.9% - Time to Sell?

Key Points

• Energy Vault's shares fell by 9.9% to $3.29, with trading volume significantly decreased, dropping 66% from the average.
• Equity analysts are largely negative on Energy Vault, with ratings including a "strong sell" and a consensus target price of $1.67.
• Recent insider trading shows the CFO sold shares at $2.17, while another director increased their stake, indicating mixed signals about the company's outlook.

Energy Vault Holdings, Inc. (NYSE:NRGV - Get Free Report) shares dropped 9.9% during mid-day trading on Wednesday . The stock traded as low as $3.34 and last traded at $3.29. Approximately 657,639 shares were traded during trading, a decline of 66% from the average daily volume of 1,946,884 shares. The stock had previously closed at $3.65.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on NRGV shares. The Goldman Sachs Group lifted their target price on Energy Vault from $0.50 to $1.50 and gave the stock a "sell" rating in a report on Wednesday, October 8th. Zacks Research cut Energy Vault from a "hold" rating to a "strong sell" rating in a research note on Wednesday, October 15th. Finally, Weiss Ratings reiterated a "sell (e+)" rating on shares of Energy Vault in a research report on Tuesday, October 14th. Two equities research analysts have rated the stock with a Buy rating and three have issued a Sell rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Reduce" and a consensus target price of $1.67.

Energy Vault Trading Down 14.9%

The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.66 and a current ratio of 0.66. The firm has a market capitalization of $502.54 million, a price-to-earnings ratio of -3.20 and a beta of 0.93. The company has a 50-day moving average price of $2.60 and a 200-day moving average price of $1.48.

Energy Vault (NYSE:NRGV - Get Free Report) last posted its quarterly earnings data 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 for the quarter, compared to analysts' expectations 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, research analysts forecast that Energy Vault Holdings, Inc. will post -0.64 EPS for the current fiscal year.

Insider Buying and Selling

In other news, CFO Michael Thomas Beer sold 50,000 shares of the firm's stock in a transaction on Friday, September 12th. The stock was sold at an average price of $2.17, for a total transaction of $108,500.00. Following the sale, the chief financial officer owned 1,216,103 shares in the company, valued at $2,638,943.51. This trade represents a 3.95% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Dylan Hixon acquired 20,000 shares of the firm's stock in a transaction dated Friday, August 29th. The shares were acquired at an average price of $1.92 per share, for a total transaction of $38,400.00. Following the acquisition, the director directly owned 900,065 shares of the company's stock, valued at approximately $1,728,124.80. The trade was a 2.27% increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last 90 days, insiders have bought 132,400 shares of company stock worth $288,130 and have sold 200,000 shares worth $584,000. 19.80% of the stock is owned by insiders.

Institutional Investors Weigh In On Energy Vault

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Sapient Capital LLC grew its holdings in shares of Energy Vault by 21.1% during the 3rd quarter. Sapient Capital LLC now owns 115,000 shares of the company's stock valued at $347,000 after acquiring an additional 20,000 shares in the last quarter. Tower Research Capital LLC TRC raised its position in Energy Vault by 570.6% in the second quarter. Tower Research Capital LLC TRC now owns 78,975 shares of the company's stock worth $57,000 after purchasing an additional 67,199 shares in the last quarter. Jane Street Group LLC raised its position in Energy Vault by 579.7% in the second quarter. Jane Street Group LLC now owns 945,705 shares of the company's stock worth $678,000 after purchasing an additional 806,576 shares in the last quarter. Marshall Wace LLP acquired a new stake in shares of Energy Vault during the second quarter worth approximately $206,000. Finally, XTX Topco Ltd acquired a new stake in shares of Energy Vault during the second quarter worth approximately $39,000. Institutional investors own 40.03% of the company's stock.

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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