Energy Vault (NYSE:NRGV) Stock Rating Upgraded by Citigroup

Energy Vault (NYSE:NRGV) was upgraded by investment analysts at Citigroup from a “neutral” rating to a “buy” rating in a research report issued to clients and investors on Wednesday, Marketbeat Ratings reports. The firm presently has a $5.00 price objective on the stock. Citigroup’s price target points to a potential upside of 43.88% from the company’s previous close.

Several other analysts also recently issued reports on the stock. Cantor Fitzgerald began coverage on shares of Energy Vault in a research report on Tuesday, May 5th. They issued an “overweight” rating and a $7.00 price target for the company. Fundamental Research set a $6.05 price objective on shares of Energy Vault and gave the company a “buy” rating in a research note on Tuesday, March 24th. Zacks Research upgraded shares of Energy Vault from a “strong sell” rating to a “hold” rating in a report on Monday, July 6th. Wall Street Zen downgraded shares of Energy Vault from a “hold” rating to a “sell” rating in a research report on Saturday, May 23rd. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Energy Vault in a report on Wednesday, May 27th. Three investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $5.01.

Energy Vault Stock Up 15.1%

Shares of NYSE:NRGV opened at $3.48 on Wednesday. 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 has a 52-week low of $0.97 and a 52-week high of $6.64. The business’s 50 day simple moving average is $4.50 and its two-hundred day simple moving average is $4.22. The firm has a market cap of $619.40 million, a P/E ratio of -4.89 and a beta of 1.17.

Energy Vault (NYSE:NRGV) last released its quarterly earnings data on Tuesday, May 5th. The company reported ($0.20) EPS for the quarter, missing the consensus estimate of ($0.15) by ($0.05). Energy Vault had a negative net margin of 52.97% and a negative return on equity of 171.09%. The firm had revenue of $21.88 million for the quarter, compared to the consensus estimate of $20.72 million. As a group, research analysts forecast that Energy Vault will post -0.61 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CFO Michael Thomas Beer sold 65,000 shares of the stock in a transaction on Monday, July 6th. The stock was sold at an average price of $4.08, for a total value of $265,200.00. Following the completion of the sale, the chief financial officer directly 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 filing with the SEC, which can be accessed through the SEC website. Insiders own 17.20% of the company’s stock.

Institutional Trading of Energy Vault

Institutional investors have recently made changes to their positions in the company. Millennium Management LLC boosted its holdings in Energy Vault by 141.2% during the third quarter. Millennium Management LLC now owns 5,858,734 shares of the company’s stock worth $17,400,000 after purchasing an additional 3,430,094 shares during the last quarter. State Street Corp boosted its stake in shares of 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 buying an additional 5,181,624 shares during the last quarter. Legal & General Group Plc purchased a new position in shares of Energy Vault in the 4th quarter worth approximately $18,217,000. Marshall Wace LLP grew its holdings 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 valued at $14,725,000 after acquiring an additional 1,821,462 shares in the last quarter. Finally, Invesco Ltd. bought a new position in shares of Energy Vault in the fourth quarter valued at approximately $11,454,000. 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.