Energy Vault (NYSE:NRGV) Upgraded at Citigroup

Citigroup upgraded shares of Energy Vault (NYSE:NRGV) from a neutral rating to a buy rating in a report published on Wednesday, MarketBeat.com reports. They currently have $5.00 price objective on the stock, down from their prior price objective of $5.25.

NRGV has been the topic of a number of other reports. Weiss Ratings reiterated a “sell (d-)” rating on shares of Energy Vault in a research note on Wednesday, May 27th. Zacks Research upgraded Energy Vault from a “strong sell” rating to a “hold” rating in a research note on Monday, July 6th. Wall Street Zen lowered Energy Vault from a “hold” rating to a “sell” rating in a report on Saturday, May 23rd. Cantor Fitzgerald initiated coverage on Energy Vault in a report on Tuesday, May 5th. They issued an “overweight” rating and a $7.00 target price on the stock. Finally, Fundamental Research set a $6.05 price target on Energy Vault and gave the stock a “buy” rating in a research report on Tuesday, March 24th. Three analysts have rated the stock with a Buy rating, one has given a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $5.01.

Energy Vault Trading Down 10.9%

NYSE:NRGV opened at $2.90 on Wednesday. The stock’s 50 day moving average price is $4.33 and its 200 day moving average price is $4.19. Energy Vault has a 52 week low of $1.02 and a 52 week high of $6.64. The company has a market capitalization of $516.03 million, a P/E ratio of -4.08 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.

Energy Vault (NYSE:NRGV) last posted 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). The business had revenue of $21.88 million during the quarter, compared to analyst estimates of $20.72 million. Energy Vault had a negative net margin of 52.97% and a negative return on equity of 171.09%. On average, research analysts forecast that Energy Vault will post -0.61 EPS for the current fiscal year.

Insider Transactions at Energy Vault

In other news, CFO Michael Thomas Beer sold 65,000 shares of the company’s stock in a transaction dated Monday, July 6th. The shares were sold at an average price of $4.08, for a total value of $265,200.00. Following the sale, the chief financial officer owned 1,021,806 shares of the company’s stock, valued at approximately $4,168,968.48. This represents a 5.98% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 17.20% of the stock is owned by corporate insiders.

Institutional Trading of Energy Vault

Large investors have recently added to or reduced their stakes in the company. Creative Planning increased its position in 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 acquiring an additional 3,690 shares in the last quarter. Osaic Holdings Inc. lifted its position in shares of Energy Vault by 12.4% during the fourth quarter. Osaic Holdings Inc. now owns 44,547 shares of the company’s stock worth $205,000 after purchasing an additional 4,897 shares in the last quarter. Bank of Nova Scotia grew its stake in shares of Energy Vault by 19.9% during the first quarter. Bank of Nova Scotia now owns 41,600 shares of the company’s stock valued at $137,000 after purchasing an additional 6,900 shares during the last quarter. Charles Schwab Investment Management Inc. increased its holdings in shares of Energy Vault by 1.2% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 668,703 shares of the company’s stock valued at $3,083,000 after purchasing an additional 7,742 shares in the last quarter. Finally, Mercer Global Advisors Inc. ADV boosted its position in Energy Vault by 70.0% in the 4th quarter. Mercer Global Advisors Inc. ADV now owns 20,808 shares of the company’s stock valued at $96,000 after buying an additional 8,570 shares during the last quarter. 40.03% of the stock is owned by institutional investors.

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.