Energy Vault (NYSE:NRGV) Stock Price Down 8.2% – Here’s Why

Energy Vault Holdings, Inc. (NYSE:NRGV)’s share price was down 8.2% during mid-day trading on Friday . The stock traded as low as $3.47 and last traded at $3.4350. Approximately 1,278,812 shares changed hands during trading, a decline of 72% from the average daily volume of 4,494,418 shares. The stock had previously closed at $3.74.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on NRGV. The Goldman Sachs Group upped their price objective on shares of Energy Vault from $1.75 to $2.00 and gave the company a “sell” rating in a research note on Thursday, March 19th. Wall Street Zen downgraded Energy Vault from a “hold” rating to a “sell” rating in a report on Saturday, May 23rd. Citigroup began coverage on Energy Vault in a research note on Thursday, June 11th. They set a “neutral” rating and a $5.25 price target on the stock. Weiss Ratings restated a “sell (d-)” rating on shares of Energy Vault in a report on Wednesday, May 27th. Finally, Fundamental Research set a $6.05 price objective on Energy Vault and gave the company a “buy” rating in a research report on Tuesday, March 24th. Two analysts have rated the stock with a Buy rating, two have issued a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $5.08.

Energy Vault Stock Performance

The firm has a market capitalization of $614.07 million, a PE ratio of -4.85 and a beta of 1.17. The company has a debt-to-equity ratio of 4.94, a quick ratio of 1.44 and a current ratio of 1.44. The company’s fifty day moving average price is $4.72 and its two-hundred day moving average price is $4.31.

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 analysts’ consensus estimates of ($0.15) by ($0.05). Energy Vault had a negative net margin of 52.97% and a negative return on equity of 171.09%. The company had revenue of $21.88 million during the quarter, compared to analysts’ expectations of $20.72 million. As a group, equities analysts expect that Energy Vault Holdings, Inc. will post -0.61 earnings per share for the current year.

Insider Activity

In other news, CFO Michael Thomas Beer sold 65,000 shares of the company’s stock in a transaction on Monday, July 6th. The stock was sold at an average price of $4.08, for a total transaction of $265,200.00. Following the completion of the sale, the chief financial officer directly owned 1,021,806 shares in the company, valued at $4,168,968.48. This represents a 5.98% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. 17.20% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Forte Asset Management LLC acquired a new stake in Energy Vault during the first quarter worth about $33,000. Mercer Global Advisors Inc. ADV purchased a new stake in shares of Energy Vault during the 3rd quarter worth about $36,000. XTX Topco Ltd purchased a new stake in shares of Energy Vault during the 2nd quarter worth about $39,000. Banco BTG Pactual S.A. acquired a new stake in Energy Vault during the 3rd quarter worth approximately $43,000. Finally, Calamos Advisors LLC acquired a new stake in Energy Vault during the 1st quarter worth approximately $48,000. Institutional investors and hedge funds own 40.03% of the company’s stock.

About Energy Vault

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.