Energy Vault (NYSE:NRGV) Shares Gap Down Following Weak Earnings

Energy Vault Holdings, Inc. (NYSE:NRGV)’s share price gapped down prior to trading on Wednesday following a dissappointing earnings announcement. The stock had previously closed at $5.03, but opened at $3.97. Energy Vault shares last traded at $3.9350, with a volume of 2,271,181 shares.

The company reported ($0.20) earnings per share for the quarter, missing the consensus estimate of ($0.15) by ($0.05). The firm 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 144.72%.

Analysts Set New Price Targets

NRGV has been the subject of several analyst reports. Fundamental Research set a $6.05 target price on Energy Vault and gave the company a “buy” rating in a report on Tuesday, March 24th. The Goldman Sachs Group upped their target price on Energy Vault from $1.75 to $2.00 and gave the company a “sell” rating in a report on Thursday, March 19th. Zacks Research downgraded Energy Vault from a “hold” rating to a “strong sell” rating in a report on Tuesday, February 17th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Energy Vault in a report on Friday, January 9th. Finally, Cantor Fitzgerald initiated coverage on Energy Vault in a report on Tuesday. They set an “overweight” rating and a $7.00 target price for the company. Two equities research analysts have rated the stock with a Buy rating and three have assigned a Sell rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Reduce” and an average target price of $5.02.

Insider Transactions at Energy Vault

In related news, CFO Michael Thomas Beer sold 65,000 shares of the 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 approximately $3,373,805.10. This represents a 5.77% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Over the last three months, insiders bought 16,950 shares of company stock valued at $55,062. 17.20% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of 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 worth $303,000 after purchasing an additional 3,690 shares during the last quarter. Osaic Holdings Inc. increased its position in Energy Vault by 12.4% in the 4th quarter. Osaic Holdings Inc. now owns 44,547 shares of the company’s stock worth $205,000 after purchasing an additional 4,897 shares during the last quarter. Charles Schwab Investment Management Inc. increased its position in Energy Vault by 1.2% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 668,703 shares of the company’s stock worth $3,083,000 after purchasing an additional 7,742 shares during the last quarter. Mercer Global Advisors Inc. ADV increased 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 worth $96,000 after purchasing an additional 8,570 shares during the last quarter. Finally, Forte Asset Management LLC acquired a new position in Energy Vault in the 1st quarter worth about $33,000. 40.03% of the stock is owned by institutional investors and hedge funds.

Energy Vault Stock Performance

The company has a current ratio of 0.73, a quick ratio of 0.73 and a debt-to-equity ratio of 0.56. The firm has a 50-day simple moving average of $3.57 and a two-hundred day simple moving average of $3.99. The company has a market capitalization of $779.27 million, a price-to-earnings ratio of -6.35 and a beta of 1.14.

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.