Energy Vault (NYSE:NRGV) Shares Down 6.7% - Should You Sell?

Key Points

• Energy Vault shares fell 6.7% to approximately $4.11 in midday trading, with volume significantly below the stock’s average session volume.
• Analyst sentiment is mixed: four analysts rate the stock Buy, one Hold, and two Sell. The consensus rating is Hold, with an average price target of $6.01.
• The company remains unprofitable, reporting a quarterly loss of $0.17 per share versus the expected $0.14 loss, alongside a negative net margin of 48.58%; institutional investors own about 40% of shares.

Shares of Energy Vault Holdings, Inc. (NYSE:NRGV - Get Free Report) dropped 6.7% during mid-day trading on Monday. The company traded as low as $4.14 and last traded at $4.1050. Approximately 717,556 shares were traded during trading, a decline of 84% from the average session volume of 4,521,570 shares. The stock had previously closed at $4.40.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on NRGV. Zacks Research raised Energy Vault from a "strong sell" rating to a "hold" rating in a research note on Monday, July 6th. Fundamental Research set a $8.03 price target on shares of Energy Vault and gave the company a "buy" rating in a report on Tuesday, August 18th. Weiss Ratings cut shares of Energy Vault from a "sell (d-)" rating to a "sell (e+)" rating in a research report on Wednesday, August 12th. Roth Capital reiterated a "buy" rating and set a $7.00 price objective (up from $5.00) on shares of Energy Vault in a research note on Wednesday, August 12th. Finally, Wall Street Zen lowered shares of Energy Vault from a "sell" rating to a "strong sell" rating in a research report on Saturday, August 15th. Four analysts have rated the stock with a Buy rating, one has given a Hold rating and two have given a Sell rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Hold" and a consensus price target of $6.01.

Energy Vault Stock Down 5.6%

The company has a current ratio of 1.19, a quick ratio of 1.19 and a debt-to-equity ratio of 24.07. The firm has a 50-day moving average of $3.68 and a 200 day moving average of $3.99. The stock has a market capitalization of $755.55 million, a price-to-earnings ratio of -6.30 and a beta of 1.24.

Energy Vault (NYSE:NRGV - Get Free Report) last announced its earnings results on Tuesday, August 11th. The company reported ($0.17) earnings per share for the quarter, missing the consensus estimate of ($0.14) by ($0.03). Energy Vault had a negative net margin of 48.58% and a negative return on equity of 236.83%. The firm had revenue of $17.37 million during the quarter, compared to analysts' expectations of $14.24 million. On average, sell-side analysts anticipate that Energy Vault Holdings, Inc. will post -0.56 earnings per share for the current year.

Insider Buying and Selling

In other Energy Vault news, Director Stephanie Unwin sold 115,000 shares of Energy Vault stock in a transaction that occurred on Wednesday, August 26th. The stock was sold at an average price of $3.71, for a total transaction of $426,650.00. Following the sale, the director directly owned 182,245 shares in the company, valued at $676,128.95. The trade was a 38.69% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Dylan Hixon bought 85,518 shares of the business's stock in a transaction on Friday, August 14th. The stock was acquired at an average cost of $3.74 per share, for a total transaction of $319,837.32. Following the completion of the transaction, the director owned 31,864 shares in the company, valued at $119,171.36. This represents a -159.39% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Insiders own 17.20% of the company's stock.

Institutional Trading of Energy Vault

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. BlackRock Inc. bought a new position in Energy Vault during the 2nd quarter valued at $52,657,000. Legal & General Group Plc bought a new stake in shares of Energy Vault in the 2nd quarter worth about $25,508,000. SailingStone Capital Partners LLC raised its stake in shares of Energy Vault by 0.5% in the 2nd quarter. SailingStone Capital Partners LLC now owns 4,469,075 shares of the company's stock valued at $21,049,000 after purchasing an additional 24,058 shares in the last quarter. J. Goldman & Co LP bought a new position in shares of Energy Vault during the second quarter worth about $7,085,000. Finally, Tidal Investments LLC lifted its position in shares of Energy Vault by 105.9% during the second quarter. Tidal Investments LLC now owns 688,592 shares of the company's stock worth $3,243,000 after purchasing an additional 354,220 shares during the last quarter. Institutional investors own 40.03% of the company's stock.

About Energy Vault

Energy Vault Holdings, Inc develops and deploys energy-storage systems designed to help stabilize electric grids and integrate renewable power. The company's technologies are intended to store electricity for later use, addressing the intermittent nature of sources such as wind and solar.

Its product portfolio includes gravity-based storage systems, including the EVx platform, which uses mechanical lifting and lowering of heavy composite blocks to store and release energy. Energy Vault also offers battery energy-storage systems, hybrid storage solutions, and VaultOS, a software platform designed to manage and optimize energy-storage assets.

Founded in 2017, Energy Vault became a publicly traded company in 2022 through a business combination with Novus Capital Corporation III.

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