Energy Vault (NYSE:NRGV) Shares Up 8.3% – Here’s What Happened

Energy Vault Holdings, Inc. (NYSE:NRGV) traded up 8.3% on Wednesday . The company traded as high as $3.58 and last traded at $3.4970. 678,613 shares traded hands during mid-day trading, a decline of 81% from the average session volume of 3,593,284 shares. The stock had previously closed at $3.23.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on the company. Weiss Ratings reissued a “sell (e+)” rating on shares of Energy Vault in a report on Friday, January 9th. 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 report on Thursday, March 19th. Zacks Research cut Energy Vault from a “hold” rating to a “strong sell” rating in a report on Tuesday, February 17th. 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. One analyst has rated the stock with a Buy rating and three have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Reduce” and an average target price of $4.03.

Energy Vault Stock Performance

The firm has a market cap of $583.81 million, a PE ratio of -5.22 and a beta of 0.90. The company has a debt-to-equity ratio of 0.56, a current ratio of 0.73 and a quick ratio of 0.73. The stock has a 50-day moving average price of $3.38 and a 200 day moving average price of $3.92.

Energy Vault (NYSE:NRGV) last posted its quarterly earnings results on Tuesday, March 17th. The company reported ($0.13) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.07) by ($0.06). Energy Vault had a negative net margin of 50.87% and a negative return on equity of 106.69%. The firm had revenue of $153.31 million for the quarter, compared to analysts’ expectations of $152.57 million. Research analysts forecast that Energy Vault Holdings, Inc. will post -0.64 earnings per share for the current year.

Insider Activity

In other news, major shareholder Vision Fund (Aiv M2) Softbank sold 3,000,000 shares of the company’s stock in a transaction dated Thursday, January 15th. The stock was sold at an average price of $5.65, for a total value of $16,950,000.00. Following the completion of the sale, the insider owned 15,535,631 shares of the company’s stock, valued at $87,776,315.15. This represents a 16.19% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Michael Thomas Beer sold 65,000 shares of the company’s stock in a transaction dated Monday, April 6th. The stock was sold at an average price of $3.18, for a total value of $206,700.00. Following the completion of the sale, the chief financial officer directly owned 1,060,945 shares of the company’s stock, valued at $3,373,805.10. The trade was a 5.77% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders bought 16,950 shares of company stock valued at $55,062 in the last ninety days. Company insiders own 19.80% of the company’s stock.

Institutional Investors Weigh In On Energy Vault

Several institutional investors and hedge funds have recently modified their holdings of the stock. Millennium Management LLC boosted its position in shares of Energy Vault by 141.2% in the third quarter. Millennium Management LLC now owns 5,858,734 shares of the company’s stock worth $17,400,000 after buying an additional 3,430,094 shares during the period. State Street Corp boosted its position in shares of Energy Vault by 1,004.0% in the fourth quarter. State Street Corp now owns 5,697,735 shares of the company’s stock worth $26,267,000 after buying an additional 5,181,624 shares during the period. Legal & General Group Plc purchased a new stake in shares of Energy Vault in the fourth quarter worth about $18,217,000. Marshall Wace LLP boosted its position in shares of Energy Vault by 132.7% in the fourth quarter. Marshall Wace LLP now owns 3,194,205 shares of the company’s stock worth $14,725,000 after buying an additional 1,821,462 shares during the period. Finally, Invesco Ltd. purchased a new stake in shares of Energy Vault in the fourth quarter worth about $11,454,000. Hedge funds and other institutional investors 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.