Energy Vault (NYSE:NRGV) Shares Up 7.7% - Should You Buy?

Key Points

• Energy Vault shares rose 7.7% to about $4.27, although trading volume was 91% below the stock’s average daily volume.
• Analyst views remain mixed: four analysts rate the stock a Buy, one rates it Hold, and two rate it Sell. The consensus rating is Hold, with an average price target of $6.01.
• The company exceeded quarterly revenue expectations but missed on earnings, reporting a $0.17 per-share loss versus the expected $0.14 loss. Energy Vault also posted negative profitability metrics, including a 48.58% net margin and 236.83% negative return on equity.

Energy Vault Holdings, Inc. (NYSE:NRGV - Get Free Report)'s stock price shot up 7.7% during mid-day trading on Thursday . The stock traded as high as $4.34 and last traded at $4.2740. 416,965 shares traded hands during trading, a decline of 91% from the average daily volume of 4,495,064 shares. The stock had previously closed at $3.97.

Analysts Set New Price Targets

Several brokerages have weighed in on NRGV. Fundamental Research set a $8.03 price objective on Energy Vault and gave the company a "buy" rating in a research note on Tuesday, August 18th. 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. Zacks Research upgraded shares of Energy Vault from a "strong sell" rating to a "hold" rating in a report on Monday, July 6th. Citigroup upped their price objective on shares of Energy Vault from $5.00 to $6.00 and gave the stock a "buy" rating in a research report on Thursday, August 20th. Finally, Roth Capital reissued a "buy" rating and set a $7.00 target price (up from $5.00) on shares of Energy Vault in a research report on Wednesday, August 12th. Four 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 company. According to MarketBeat, Energy Vault currently has an average rating of "Hold" and an average target price of $6.01.

Energy Vault Price Performance

The firm has a market cap of $790.09 million, a PE ratio of -6.58 and a beta of 1.24. The company has a debt-to-equity ratio of 24.07, a current ratio of 1.19 and a quick ratio of 1.19. The business's fifty day moving average is $3.52 and its 200-day moving average is $3.93.

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

Insider Buying and Selling at Energy Vault

In other news, CFO Michael Beer sold 65,000 shares of the company's stock in a transaction on Monday, July 6th. The stock was sold at an average price of $4.08, for a total transaction of $265,200.00. Following the transaction, the chief financial officer owned 1,021,806 shares of the company's stock, valued at $4,168,968.48. This represents a 5.98% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Dylan Hixon purchased 27,472 shares of the business's stock in a transaction dated Monday, August 17th. The shares were purchased at an average price of $3.88 per share, with a total value of $106,591.36. Following the purchase, the director directly owned 27,472 shares in the company, valued at $106,591.36. This trade represents a ∞ increase in their position. The disclosure for this purchase is available in the SEC filing. Corporate insiders own 17.20% of the company's stock.

Institutional Trading of Energy Vault

Institutional investors have recently modified their holdings of the business. Forte Asset Management LLC purchased a new position in Energy Vault in the 1st quarter valued at approximately $33,000. Quantbot Technologies LP bought a new position in shares of Energy Vault in the second quarter worth $50,000. Hsbc Holdings PLC bought a new position in shares of Energy Vault in the second quarter worth $57,000. Calamos Advisors LLC purchased a new position in shares of Energy Vault in the first quarter valued at $48,000. Finally, Miller Howard Investments Inc. NY purchased a new position in shares of Energy Vault in the first quarter valued at $51,000. 40.03% of the stock is currently owned by hedge funds and other institutional investors.

Energy Vault Company Profile

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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