Energy Vault (NYSE:NRGV) Stock Price Down 6% – Here’s Why

Energy Vault Holdings, Inc. (NYSE:NRGV)’s stock price dropped 6% during mid-day trading on Wednesday . The company traded as low as $3.74 and last traded at $3.6950. 440,217 shares changed hands during trading, a decline of 90% from the average daily volume of 4,581,661 shares. The stock had previously closed at $3.93.

Analyst Upgrades and Downgrades

A number of analysts recently commented on NRGV shares. Fundamental Research set a $8.03 target price on shares of Energy Vault and gave the stock a “buy” rating in a report on Tuesday, August 18th. Weiss Ratings lowered shares of Energy Vault from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Wednesday, August 12th. Citigroup upped their price target on Energy Vault from $5.00 to $6.00 and gave the company a “buy” rating in a report on Thursday, August 20th. Zacks Research upgraded Energy Vault from a “strong sell” rating to a “hold” rating in a research report on Monday, July 6th. Finally, Wall Street Zen lowered Energy Vault from a “sell” rating to a “strong sell” rating in a research report on Saturday, August 15th. Four analysts have rated the stock with a Buy rating, one has given a Hold rating and two have issued a Sell rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $6.01.

Energy Vault Stock Up 1.5%

The company has a quick ratio of 1.19, a current ratio of 1.19 and a debt-to-equity ratio of 24.07. The firm has a market capitalization of $682.81 million, a PE ratio of -5.69 and a beta of 1.21. The business’s 50-day moving average price is $3.59 and its 200-day moving average price is $3.87.

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

Insider Activity at Energy Vault

In related news, CFO Michael Thomas Beer sold 65,000 shares of the stock in a transaction that occurred on Monday, July 6th. The stock was sold at an average price of $4.08, for a total transaction of $265,200.00. Following the completion of the sale, the chief financial officer owned 1,021,806 shares in the company, valued at $4,168,968.48. This represents a 5.98% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Dylan Hixon bought 85,518 shares of the stock in a transaction on Friday, August 14th. The stock was acquired at an average cost of $3.74 per share, for a total transaction of $319,837.32. Following the acquisition, the director directly owned 31,864 shares in the company, valued at approximately $119,171.36. The trade was a -159.39% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Company insiders own 17.20% of the company’s stock.

Institutional Investors Weigh In On Energy Vault

Several hedge funds have recently modified their holdings of the business. Amundi acquired a new position in Energy Vault during the 2nd quarter valued at $827,000. California State Teachers Retirement System acquired a new position in shares of Energy Vault during the second quarter valued at about $3,037,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in shares of Energy Vault by 548.9% in the second quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 177,171 shares of the company’s stock valued at $834,000 after buying an additional 149,866 shares during the period. Jefferies Financial Group Inc. acquired a new stake in Energy Vault during the second quarter worth about $756,000. Finally, Bank of America Corp DE acquired a new position in Energy Vault in the 2nd quarter valued at approximately $2,348,000. 40.03% of the stock is owned by institutional investors.

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.