Energy Vault (NYSE:NRGV) Shares Up 11% – Still a Buy?

Energy Vault Holdings, Inc. (NYSE:NRGV)’s share price traded up 11% during trading on Tuesday. The stock traded as high as $4.09 and last traded at $4.2640. 508,729 shares changed hands during mid-day trading, a decline of 89% from the average session volume of 4,519,227 shares. The stock had previously closed at $3.84.

Wall Street Analyst Weigh In

Several equities research analysts have commented on the stock. Roth Capital reiterated a “buy” rating and issued a $7.00 price target (up from $5.00) on shares of Energy Vault in a research report on Wednesday, August 12th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $7.00 price target on shares of Energy Vault in a research report on Wednesday, August 12th. Wall Street Zen cut Energy Vault from a “sell” rating to a “strong sell” rating in a research note on Saturday, August 15th. Fundamental Research set a $8.03 price target on Energy Vault and gave the stock a “buy” rating in a research note on Tuesday, August 18th. Finally, Weiss Ratings cut Energy Vault from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Wednesday, August 12th. Four analysts have rated the stock with a Buy rating, one has assigned a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $6.01.

Energy Vault Stock Down 4.2%

The stock’s fifty day simple moving average is $3.76 and its 200-day simple moving average is $4.02. The stock has a market capitalization of $686.45 million, a PE ratio of -5.73 and a beta of 1.25. The company has a current ratio of 1.19, a quick ratio of 1.19 and a debt-to-equity ratio of 24.07.

Energy Vault (NYSE:NRGV) last posted its quarterly earnings results on Tuesday, August 11th. The company reported ($0.17) earnings per share for the quarter, missing the consensus estimate of ($0.14) by ($0.03). The company had revenue of $17.37 million for the quarter, compared to the consensus estimate of $14.24 million. Energy Vault had a negative net margin of 48.58% and a negative return on equity of 236.83%. As a group, sell-side analysts forecast that Energy Vault Holdings, Inc. will post -0.56 EPS for the current fiscal year.

Insider Activity

In other Energy Vault news, Director Stephanie Unwin sold 115,000 shares of the company’s stock in a transaction dated Wednesday, August 26th. The shares were sold at an average price of $3.71, for a total transaction of $426,650.00. Following the sale, the director directly owned 182,245 shares of the company’s stock, valued at $676,128.95. This represents a 38.69% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Dylan Hixon purchased 27,472 shares of the stock in a transaction dated Monday, August 17th. The stock was purchased at an average cost of $3.88 per share, for a total transaction of $106,591.36. Following the completion of the acquisition, the director owned 27,472 shares of the company’s stock, valued at approximately $106,591.36. This represents a ? increase in their position. The disclosure for this purchase is available in the SEC filing. 17.20% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Energy Vault

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Forte Asset Management LLC purchased a new position in shares of Energy Vault in the 1st quarter worth about $33,000. Quantbot Technologies LP bought a new position in shares of Energy Vault during the 2nd quarter valued at approximately $50,000. Hsbc Holdings PLC bought a new position in shares of Energy Vault during the 2nd quarter valued at approximately $57,000. Calamos Advisors LLC bought a new position in Energy Vault in the 1st quarter worth approximately $48,000. Finally, Miller Howard Investments Inc. NY bought a new position in Energy Vault in the 1st quarter worth approximately $51,000. Hedge funds and other institutional investors own 40.03% of the company’s stock.

About Energy Vault

Energy Vault Holdings, Inc (NYSE: NRGV) develops and deploys long-duration energy storage systems designed to help utilities, renewable energy developers and industrial customers store electricity and improve grid reliability. Its solutions are intended to complement intermittent renewable power sources such as wind and solar by storing energy when supply is abundant and releasing it when demand is higher.

The company’s portfolio includes gravity-based energy storage systems, which use mechanical structures and heavy materials to store and release energy, as well as battery energy storage solutions.