Zacks Research Downgrades Energy Vault (NYSE:NRGV) to Strong Sell

Key Points

• Zacks Research has downgraded Energy Vault (NYSE:NRGV) from a "hold" rating to a "strong sell" rating following disappointing earnings results.
• The company's shares have a consensus rating of "Reduce" with an average target price of $1.67, while Goldman Sachs has also raised its price target to $1.50 and given a "sell" rating.
• Insider activity includes CEO Robert Piconi purchasing 50,000 shares, indicating confidence in the company, despite recent stock performance challenges.

Energy Vault (NYSE:NRGV - Get Free Report) was downgraded by equities research analysts at Zacks Research from a "hold" rating to a "strong sell" rating in a research report issued on Wednesday,Zacks.com reports.

Other equities analysts have also issued research reports about the stock. Weiss Ratings restated a "sell (e+)" rating on shares of Energy Vault in a research report on Tuesday. The Goldman Sachs Group increased their price target on shares of Energy Vault from $0.50 to $1.50 and gave the company a "sell" rating in a research report on Wednesday, October 8th. Two research analysts have rated the stock with a Buy rating and three have given a Sell rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Reduce" and an average target price of $1.67.

Energy Vault Stock Performance

Shares of NRGV stock opened at $3.87 on Wednesday. The firm has a 50-day moving average of $2.46 and a 200-day moving average of $1.41. The company has a market cap of $626.38 million, a P/E ratio of -3.99 and a beta of 0.93. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.66 and a quick ratio of 0.66. Energy Vault has a one year low of $0.60 and a one year high of $4.56.

Energy Vault (NYSE:NRGV - Get Free Report) last announced its earnings results on Thursday, August 7th. The company reported ($0.22) EPS for the quarter, missing the consensus estimate of ($0.07) by ($0.15). The firm had revenue of $8.51 million during 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. Equities research analysts forecast that Energy Vault will post -0.64 EPS for the current fiscal year.

Insider Buying and Selling at Energy Vault

In other Energy Vault news, CEO Robert Piconi bought 50,000 shares of the business's stock in a transaction on Wednesday, September 17th. The stock was purchased at an average price of $2.30 per share, for a total transaction of $115,000.00. Following the completion of the transaction, the chief executive officer directly owned 20,182,384 shares of the company's stock, valued at $46,419,483.20. This trade represents a 0.25% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Akshay Ladwa sold 75,000 shares of the stock in a transaction dated Thursday, September 25th. The stock was sold at an average price of $3.11, for a total transaction of $233,250.00. Following the transaction, the insider owned 1,934,582 shares of the company's stock, valued at $6,016,550.02. This represents a 3.73% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have bought 132,400 shares of company stock worth $288,130 and have sold 200,000 shares worth $584,000. 15.40% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Energy Vault

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Private Capital Advisors Inc. boosted its position in Energy Vault by 766.1% during the first quarter. Private Capital Advisors Inc. now owns 487,260 shares of the company's stock worth $339,000 after purchasing an additional 431,000 shares during the period. Nuveen LLC purchased a new stake in shares of Energy Vault in the first quarter worth about $190,000. Goldman Sachs Group Inc. lifted its holdings in shares of Energy Vault by 4.2% in the first quarter. Goldman Sachs Group Inc. now owns 398,476 shares of the company's stock worth $277,000 after buying an additional 16,101 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in shares of Energy Vault by 201.9% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 177,395 shares of the company's stock worth $125,000 after buying an additional 118,641 shares in the last quarter. Finally, Jane Street Group LLC lifted its holdings in shares of Energy Vault by 613.7% in the first quarter. Jane Street Group LLC now owns 139,129 shares of the company's stock worth $97,000 after buying an additional 119,636 shares in the last quarter. Institutional investors own 40.03% of the company's stock.

About Energy Vault

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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