Energy Vault (NYSE:NRGV) Upgraded at Citigroup

Key Points

• Citigroup upgraded Energy Vault from neutral to buy and set a $5.00 price target, implying about 43.9% upside from the prior close.
• Analyst sentiment remains mixed overall: Energy Vault now has an average Hold rating with an average price target of $5.01, alongside a range of Buy, Hold, and Sell calls from other firms.
• The stock last traded at $3.48, while the company reported a Q1 earnings miss of -$0.20 EPS versus expectations of -$0.15, even though revenue came in slightly above estimates at $21.88 million.

Energy Vault (NYSE:NRGV - Get Free Report) was upgraded by analysts at Citigroup from a "neutral" rating to a "buy" rating in a report released on Wednesday, MarketBeat reports. The firm currently has a $5.00 price objective on the stock. Citigroup's price target would indicate a potential upside of 43.88% from the stock's previous close.

Several other brokerages also recently commented on NRGV. Zacks Research raised shares of Energy Vault from a "strong sell" rating to a "hold" rating in a research note on Monday, July 6th. Fundamental Research set a $6.05 price target on Energy Vault and gave the company a "buy" rating in a research note on Tuesday, March 24th. Weiss Ratings reissued a "sell (d-)" rating on shares of Energy Vault in a report on Wednesday, May 27th. Wall Street Zen lowered Energy Vault from a "hold" rating to a "sell" rating in a research report on Saturday, May 23rd. Finally, Cantor Fitzgerald assumed coverage on Energy Vault in a report on Tuesday, May 5th. They issued an "overweight" rating and a $7.00 target price for the company. Three equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, Energy Vault currently has an average rating of "Hold" and an average price target of $5.01.

Energy Vault Price Performance

Shares of NYSE:NRGV opened at $3.48 on Wednesday. The firm has a 50 day moving average of $4.50 and a 200-day moving average of $4.22. The stock has a market capitalization of $619.40 million, a PE ratio of -4.89 and a beta of 1.17. The company has a current ratio of 1.44, a quick ratio of 1.44 and a debt-to-equity ratio of 4.94. Energy Vault has a 12 month low of $0.97 and a 12 month high of $6.64.

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

Insider Activity at Energy Vault

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

Hedge Funds Weigh In On Energy Vault

A number of hedge funds and other institutional investors have recently made changes to their positions in NRGV. Forte Asset Management LLC acquired a new stake in Energy Vault during the 1st quarter valued at approximately $33,000. Kovack Advisors Inc. bought a new stake in shares of Energy Vault in the 4th quarter valued at $49,000. Hsbc Holdings PLC acquired a new position in shares of Energy Vault during the 4th quarter valued at $53,000. Mercer Global Advisors Inc. ADV bought a new position in Energy Vault during the third quarter worth $36,000. Finally, Twinbeech Capital LP bought a new position in Energy Vault during the fourth quarter worth $66,000. 40.03% of the stock is owned by institutional investors and hedge funds.

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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