Energy Vault (NYSE:NRGV) Lowered to Strong Sell Rating by Zacks Research

Zacks Research cut shares of Energy Vault (NYSE:NRGV) from a hold rating to a strong sell rating in a research report released on Tuesday morning,Zacks.com reports.

Several other brokerages have also recently issued reports on NRGV. Weiss Ratings restated a “sell (e+)” rating on shares of Energy Vault in a research note on Friday, January 9th. The Goldman Sachs Group lifted their price target on shares of Energy Vault from $1.50 to $2.00 and gave the company a “sell” rating in a report on Wednesday, November 12th. Finally, Fundamental Research set a $5.19 price objective on shares of Energy Vault and gave the stock a “buy” rating in a research note on Tuesday, November 18th. Three equities research analysts have rated the stock with a Buy rating and three have given a Sell rating to the company. According to data from MarketBeat, Energy Vault currently has an average rating of “Hold” and a consensus target price of $2.67.

Energy Vault Price Performance

Shares of NYSE NRGV opened at $2.98 on Tuesday. The company has a market capitalization of $500.35 million, a price-to-earnings ratio of -3.15 and a beta of 0.91. The business has a 50-day moving average of $4.85 and a 200-day moving average of $3.54. The company has a debt-to-equity ratio of 0.39, a current ratio of 0.63 and a quick ratio of 0.59. Energy Vault has a 1-year low of $0.60 and a 1-year high of $6.35.

Insider Activity

In other Energy Vault news, CFO Michael Thomas Beer sold 50,000 shares of the company’s stock in a transaction on Tuesday, December 23rd. The stock was sold at an average price of $4.91, for a total value of $245,500.00. Following the sale, the chief financial officer directly owned 1,150,522 shares in the company, valued at $5,649,063.02. This represents a 4.16% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, major shareholder Vision Fund (Aiv M2) Softbank sold 3,000,000 shares of Energy Vault stock in a transaction on Thursday, January 15th. The shares were sold at an average price of $5.65, for a total value of $16,950,000.00. Following the completion of the transaction, the insider owned 15,535,631 shares of the company’s stock, valued at approximately $87,776,315.15. The trade was a 16.19% decrease in their position. The SEC filing for this sale provides additional information. Insiders own 15.40% of the company’s stock.

Institutional Investors Weigh In On Energy Vault

A number of hedge funds have recently added to or reduced their stakes in the stock. Millennium Management LLC raised its stake 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 acquiring an additional 3,430,094 shares during the last quarter. State Street Corp raised its position in Energy Vault by 1,004.0% in the 4th quarter. State Street Corp now owns 5,697,735 shares of the company’s stock worth $26,267,000 after purchasing an additional 5,181,624 shares during the last quarter. Legal & General Group Plc acquired a new position in Energy Vault during the 4th quarter worth $18,217,000. Marshall Wace LLP boosted its position in Energy Vault by 132.7% in the 4th quarter. Marshall Wace LLP now owns 3,194,205 shares of the company’s stock valued at $14,725,000 after buying an additional 1,821,462 shares during the last quarter. Finally, Vanguard Group Inc. raised its position in shares of Energy Vault by 20.4% during the third quarter. Vanguard Group Inc. now owns 1,823,443 shares of the company’s stock worth $5,416,000 after acquiring an additional 308,509 shares during the last quarter. Institutional investors own 40.03% of the company’s stock.

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.