Citigroup Upgrades Energy Vault (NYSE:NRGV) to Hold

Energy Vault (NYSE:NRGV) was upgraded by equities research analysts at Citigroup to a “hold” rating in a research note issued on Thursday,Zacks.com reports.

Several other analysts have also issued reports on the stock. Cantor Fitzgerald initiated coverage on shares of Energy Vault in a research report on Tuesday, May 5th. They set an “overweight” rating and a $7.00 price target on the stock. Fundamental Research set a $6.05 price target on Energy Vault and gave the stock a “buy” rating in a report on Tuesday, March 24th. The Goldman Sachs Group boosted their price target on Energy Vault from $1.75 to $2.00 and gave the stock a “sell” rating in a research report on Thursday, March 19th. Zacks Research downgraded Energy Vault from a “hold” rating to a “strong sell” rating in a research note on Tuesday, February 17th. Finally, Wall Street Zen downgraded Energy Vault from a “hold” rating to a “sell” rating in a report on Saturday, May 23rd. Two equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and three have issued a Sell rating to the company. According to MarketBeat, Energy Vault currently has an average rating of “Reduce” and a consensus price target of $5.08.

Energy Vault Stock Performance

Shares of NRGV stock opened at $4.30 on Thursday. The firm has a market cap of $765.76 million, a PE ratio of -6.05 and a beta of 1.15. Energy Vault has a 12 month low of $0.65 and a 12 month high of $6.64. The company’s fifty day simple moving average is $4.53 and its 200-day simple moving average is $4.32. The company has a quick ratio of 1.44, a current ratio of 1.44 and a debt-to-equity ratio of 4.94.

Energy Vault (NYSE:NRGV) last released its earnings results on Tuesday, May 5th. The company reported ($0.20) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.15) by ($0.05). Energy Vault had a negative return on equity of 171.09% and a negative net margin of 52.97%.The company had revenue of $21.88 million for the quarter, compared to the consensus estimate of $20.72 million. Equities research analysts expect that Energy Vault will post -0.61 EPS for the current fiscal year.

Insider Buying and Selling

In other Energy Vault news, CFO Michael Thomas Beer sold 65,000 shares of the firm’s stock in a transaction on Monday, April 6th. The stock was sold at an average price of $3.18, for a total transaction of $206,700.00. Following the transaction, the chief financial officer owned 1,060,945 shares in the company, valued at $3,373,805.10. This trade represents a 5.77% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 17.20% of the stock is currently owned by company insiders.

Institutional Trading of Energy Vault

Several large investors have recently modified their holdings of the stock. Forte Asset Management LLC bought a new position in shares of Energy Vault in the first quarter worth $33,000. Mercer Global Advisors Inc. ADV acquired a new stake in Energy Vault during the third quarter worth about $36,000. XTX Topco Ltd bought a new position in Energy Vault in the 2nd quarter valued at about $39,000. Banco BTG Pactual S.A. acquired a new position in shares of Energy Vault in the 3rd quarter valued at approximately $43,000. Finally, Calamos Advisors LLC acquired a new position in shares of Energy Vault in the 1st quarter valued at approximately $48,000. 40.03% of the stock is owned by institutional investors and hedge funds.

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.