Energy Vault (NYSE:NRGV) Shares Climb 7.7% – Time to Buy?

Energy Vault Holdings, Inc. (NYSE:NRGV) shot up 7.7% on Thursday. The company traded as high as $4.34 and last traded at $4.2740. 416,965 shares were traded during trading, a decline of 91% from the average session volume of 4,495,064 shares. The stock had previously closed at $3.97.

Wall Street Analyst Weigh In

Several equities research analysts have commented on the stock. Fundamental Research set a $8.03 price target on shares of Energy Vault and gave the stock a “buy” rating in a research report on Tuesday, August 18th. Weiss Ratings cut shares of Energy Vault from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Wednesday, August 12th. Roth Capital reiterated a “buy” rating and issued a $7.00 price target (up from $5.00) on shares of Energy Vault in a research report on Wednesday, August 12th. Wall Street Zen cut shares of Energy Vault from a “sell” rating to a “strong sell” rating in a research report on Saturday, August 15th. Finally, Zacks Research upgraded shares of Energy Vault from a “strong sell” rating to a “hold” rating in a research report on Monday, July 6th. Four investment analysts have rated the stock with a Buy rating, one has given a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, Energy Vault presently has an average rating of “Hold” and an average target price of $6.01.

Energy Vault Trading Down 4.2%

The firm’s 50-day moving average is $3.76 and its 200 day moving average is $4.02. The company has a current ratio of 1.19, a quick ratio of 1.19 and a debt-to-equity ratio of 24.07. The firm has a market capitalization of $686.45 million, a price-to-earnings ratio of -5.73 and a beta of 1.25.

Energy Vault (NYSE:NRGV) last released its quarterly earnings data on Tuesday, August 11th. The company reported ($0.17) earnings per share for the quarter, missing the consensus estimate of ($0.14) by ($0.03). The company had revenue of $17.37 million during the quarter, compared to the consensus estimate of $14.24 million. Energy Vault had a negative net margin of 48.58% and a negative return on equity of 236.83%. On average, equities analysts predict that Energy Vault Holdings, Inc. will post -0.56 earnings per share for the current fiscal year.

Insider Activity

In other news, Director Dylan Hixon bought 27,472 shares of the business’s stock in a transaction dated Monday, August 17th. The shares were purchased at an average price of $3.88 per share, for a total transaction of $106,591.36. Following the completion of the acquisition, the director owned 27,472 shares of the company’s stock, valued at approximately $106,591.36. This trade represents a ? increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Stephanie Unwin sold 115,000 shares of Energy Vault stock in a transaction on Wednesday, August 26th. The shares were sold at an average price of $3.71, for a total transaction of $426,650.00. Following the completion of the sale, the director owned 182,245 shares in the company, valued at approximately $676,128.95. This trade represents a 38.69% decrease in their position. The disclosure for this sale is available in the SEC filing. 17.20% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Energy Vault

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Forte Asset Management LLC bought a new position in Energy Vault in the 1st quarter worth approximately $33,000. Quantbot Technologies LP bought a new position in shares of Energy Vault during the 2nd quarter valued at approximately $50,000. Hsbc Holdings PLC purchased a new stake in Energy Vault during the 2nd quarter valued at $57,000. Calamos Advisors LLC purchased a new stake in Energy Vault during the 1st quarter valued at $48,000. Finally, Miller Howard Investments Inc. NY purchased a new stake in Energy Vault during the 1st quarter valued at $51,000. Hedge funds and other institutional investors own 40.03% of the company’s stock.

Energy Vault Company Profile

Energy Vault Holdings, Inc (NYSE: NRGV) develops and deploys long-duration energy storage systems designed to help utilities, renewable energy developers and industrial customers store electricity and improve grid reliability. Its solutions are intended to complement intermittent renewable power sources such as wind and solar by storing energy when supply is abundant and releasing it when demand is higher.

The company’s portfolio includes gravity-based energy storage systems, which use mechanical structures and heavy materials to store and release energy, as well as battery energy storage solutions.