The Goldman Sachs Group Forecasts Strong Price Appreciation for Energy Vault (NYSE:NRGV) Stock

Key Points

• The Goldman Sachs Group has raised its price target for Energy Vault (NYSE:NRGV) from $0.50 to $1.50, although it maintains a "sell" rating, indicating a potential downside of 55.41% from the stock's previous close.
• Energy Vault reported a negative EPS of ($0.22) for the quarter, significantly missing analysts' estimates, alongside revenue that fell short of expectations.
• Insider trading activity includes CEO Robert Piconi purchasing 17,500 shares, while another insider sold 75,000 shares, indicating mixed sentiment among company executives about the stock's future.

Energy Vault (NYSE:NRGV - Get Free Report) had its price objective raised by equities research analysts at The Goldman Sachs Group from $0.50 to $1.50 in a report released on Wednesday,Benzinga reports. The firm presently has a "sell" rating on the stock. The Goldman Sachs Group's price objective would suggest a potential downside of 55.41% from the stock's previous close.

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

Energy Vault Trading Up 1.6%

NRGV stock traded up $0.05 during midday trading on Wednesday, reaching $3.36. 1,947,373 shares of the company traded hands, compared to its average volume of 1,877,028. Energy Vault has a 52-week low of $0.60 and a 52-week high of $3.79. 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 business has a 50 day moving average of $2.09 and a 200-day moving average of $1.27. The firm has a market capitalization of $544.48 million, a price-to-earnings ratio of -3.47 and a beta of 0.93.

Energy Vault (NYSE:NRGV - Get Free Report) last released its earnings results on Thursday, August 7th. The company reported ($0.22) EPS for the quarter, missing analysts' consensus estimates 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 business had revenue of $8.51 million for the quarter, compared to the consensus estimate of $31.18 million. Energy Vault has set its FY 2025 guidance at EPS. As a group, sell-side analysts expect that Energy Vault will post -0.64 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, CEO Robert Piconi purchased 17,500 shares of the firm's stock in a transaction that occurred on Friday, September 19th. The shares were purchased at an average cost of $3.02 per share, with a total value of $52,850.00. Following the purchase, the chief executive officer owned 20,199,884 shares of the company's stock, valued at $61,003,649.68. This represents a 0.09% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Akshay Ladwa sold 75,000 shares of the firm'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 completion of the transaction, the insider directly owned 1,934,582 shares in the company, valued at $6,016,550.02. This trade represents a 3.73% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have bought 132,400 shares of company stock valued at $288,130 and have sold 266,024 shares valued at $637,479. Company insiders own 19.80% of the company's stock.

Institutional Trading of Energy Vault

Institutional investors have recently made changes to their positions in the company. Jane Street Group LLC increased its holdings in Energy Vault by 579.7% in the 2nd 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 last quarter. Private Capital Advisors Inc. increased its holdings in Energy Vault by 41.0% in the 2nd quarter. Private Capital Advisors Inc. now owns 687,260 shares of the company's stock valued at $493,000 after purchasing an additional 200,000 shares during the last quarter. Goldman Sachs Group Inc. increased its holdings in 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 purchasing an additional 16,101 shares during the last quarter. Marshall Wace LLP acquired a new stake in Energy Vault in the 2nd quarter valued at approximately $206,000. Finally, Nuveen LLC acquired a new stake in Energy Vault in the 1st quarter valued at approximately $190,000. Hedge funds and other 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.