Energy Vault (NYSE:NRGV) Sets New 1-Year High – Should You Buy?

by · The Markets Daily

Energy Vault Holdings, Inc. (NYSE:NRGVGet Free Report)’s share price reached a new 52-week high during mid-day trading on Thursday . The stock traded as high as $4.89 and last traded at $4.8550, with a volume of 901278 shares traded. The stock had previously closed at $4.66.

Wall Street Analyst Weigh In

NRGV has been the topic of several analyst reports. The Goldman Sachs Group increased their target price on shares of Energy Vault from $1.50 to $2.00 and gave the stock a “sell” rating in a report on Wednesday, November 12th. Weiss Ratings restated a “sell (e+)” rating on shares of Energy Vault in a report on Tuesday, October 14th. Fundamental Research set a $5.19 price objective on Energy Vault and gave the company a “buy” rating in a research report on Tuesday, November 18th. Finally, Zacks Research downgraded shares of Energy Vault from a “hold” rating to a “strong sell” rating in a report on Wednesday, October 15th. Three equities research analysts have rated the stock with a Buy rating and three have issued a Sell rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $2.67.

Read Our Latest Research Report on NRGV

Energy Vault Stock Up 15.9%

The stock’s fifty day moving average price is $3.52 and its 200-day moving average price is $2.16. The company has a quick ratio of 0.59, a current ratio of 0.63 and a debt-to-equity ratio of 0.39. The company has a market capitalization of $906.07 million, a price-to-earnings ratio of -5.68 and a beta of 0.95.

Energy Vault (NYSE:NRGVGet Free Report) last released its earnings results on Monday, November 10th. The company reported ($0.16) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.10) by ($0.06). Energy Vault had a negative return on equity of 119.98% and a negative net margin of 172.61%.The company had revenue of $33.32 million for the quarter, compared to the consensus estimate of $48.99 million. On average, sell-side analysts predict that Energy Vault Holdings, Inc. will post -0.64 earnings per share for the current fiscal year.

Insider Transactions at Energy Vault

In other Energy Vault news, insider Akshay Ladwa sold 75,000 shares of the company’s stock in a transaction on Thursday, September 25th. The shares were sold at an average price of $3.11, for a total transaction of $233,250.00. Following the sale, the insider directly owned 1,934,582 shares of the company’s stock, valued at approximately $6,016,550.02. This represents a 3.73% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Robert Piconi purchased 10,000 shares of the business’s stock in a transaction on Friday, November 14th. The stock was purchased at an average price of $3.00 per share, with a total value of $30,000.00. Following the purchase, the chief executive officer owned 20,207,242 shares of the company’s stock, valued at approximately $60,621,726. The trade was a 0.05% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. In the last 90 days, insiders have purchased 77,500 shares of company stock worth $197,850 and have sold 200,000 shares worth $584,000. Company insiders own 15.40% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the company. Creative Planning raised its holdings in shares of Energy Vault by 3.7% in the 3rd quarter. Creative Planning now owns 102,139 shares of the company’s stock valued at $303,000 after purchasing an additional 3,690 shares during the period. Mercer Global Advisors Inc. ADV acquired a new position in Energy Vault during the third quarter worth approximately $36,000. Platform Technology Partners bought a new stake in Energy Vault in the third quarter valued at approximately $40,000. Banco BTG Pactual S.A. acquired a new stake in shares of Energy Vault in the third quarter valued at approximately $43,000. Finally, Goldman Sachs Group Inc. lifted its position 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 valued at $277,000 after buying an additional 16,101 shares during the last quarter. 40.03% of the stock is currently owned by institutional investors and hedge funds.

About Energy Vault

(Get Free Report)

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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