Energy Vault (NYSE:NRGV) Shares Down 7.7% – Here’s Why
by Tristan Rich · The Markets DailyEnergy Vault Holdings, Inc. (NYSE:NRGV – Get Free Report) shares were down 7.7% on Friday . The stock traded as low as $3.50 and last traded at $3.4330. Approximately 2,762,827 shares traded hands during trading, a decline of 26% from the average daily volume of 3,719,440 shares. The stock had previously closed at $3.72.
Wall Street Analysts Forecast Growth
Several equities analysts have commented on NRGV shares. Weiss Ratings restated a “sell (e+)” rating on shares of Energy Vault in a research note on Friday, January 9th. Zacks Research cut Energy Vault from a “hold” rating to a “strong sell” rating in a research note on Tuesday, February 17th. Finally, The Goldman Sachs Group increased their price target on Energy Vault from $1.75 to $2.00 and gave the company a “sell” rating in a research report on Thursday. One analyst has rated the stock with a Buy rating and three have assigned a Sell rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Reduce” and a consensus target price of $3.60.
Get Our Latest Stock Analysis on NRGV
Energy Vault Trading Down 10.6%
The company has a current ratio of 0.63, a quick ratio of 0.59 and a debt-to-equity ratio of 0.39. The firm has a market cap of $557.90 million, a PE ratio of -5.12 and a beta of 0.98. The business has a fifty day moving average price of $4.13 and a 200 day moving average price of $3.78.
Energy Vault (NYSE:NRGV – Get Free Report) last released its quarterly earnings data on Tuesday, March 17th. The company reported ($0.13) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.07) by ($0.06). The company had revenue of $153.31 million for the quarter, compared to analyst estimates of $152.57 million. Energy Vault had a negative return on equity of 98.91% and a negative net margin of 50.87%. Analysts forecast that Energy Vault Holdings, Inc. will post -0.64 EPS for the current year.
Insider Activity
In other news, CFO Michael Thomas Beer sold 50,000 shares of the stock in a transaction that occurred on Tuesday, December 23rd. The stock was sold at an average price of $4.91, for a total value of $245,500.00. Following the completion of the sale, the chief financial officer directly owned 1,150,522 shares of the company’s stock, valued at approximately $5,649,063.02. This represents a 4.16% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, major shareholder Vision Fund (Aiv M2) Softbank sold 3,000,000 shares of the firm’s stock in a transaction that occurred on Thursday, January 15th. The stock was sold at an average price of $5.65, for a total transaction of $16,950,000.00. Following the transaction, the insider owned 15,535,631 shares in the company, valued at approximately $87,776,315.15. This trade represents a 16.19% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders bought a total of 16,950 shares of company stock valued at $55,062 over the last three months. Company insiders own 15.40% of the company’s stock.
Institutional Trading of Energy Vault
Large investors have recently bought and sold shares of the business. Millennium Management LLC raised its holdings in shares of Energy Vault by 141.2% in the third quarter. Millennium Management LLC now owns 5,858,734 shares of the company’s stock valued at $17,400,000 after buying an additional 3,430,094 shares during the last quarter. State Street Corp lifted its position in Energy Vault by 1,004.0% during the 4th quarter. State Street Corp now owns 5,697,735 shares of the company’s stock worth $26,267,000 after acquiring an additional 5,181,624 shares during the period. Legal & General Group Plc purchased a new position in shares of Energy Vault in the 4th quarter valued at approximately $18,217,000. Marshall Wace LLP grew its stake in shares of Energy Vault by 132.7% in the 4th quarter. Marshall Wace LLP now owns 3,194,205 shares of the company’s stock valued at $14,725,000 after purchasing an additional 1,821,462 shares during the last quarter. Finally, Invesco Ltd. acquired a new position in shares of Energy Vault in the fourth quarter valued at approximately $11,454,000. Institutional investors and hedge funds own 40.03% of the company’s stock.
Energy Vault Company Profile
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.