Energy Vault (NYSE:NRGV) Shares Down 6.7% – Time to Sell?

Energy Vault Holdings, Inc. (NYSE:NRGV)’s stock price traded down 6.7% during trading on Monday. The company traded as low as $4.14 and last traded at $4.1050. 717,556 shares were traded during trading, a decline of 84% from the average session volume of 4,521,570 shares. The stock had previously closed at $4.40.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on NRGV. Zacks Research raised shares of Energy Vault from a “strong sell” rating to a “hold” rating in a research report on Monday, July 6th. Weiss Ratings cut shares of Energy Vault from a “sell (d-)” rating to a “sell (e+)” rating in a report on Wednesday, August 12th. Fundamental Research set a $8.03 price target on shares of Energy Vault and gave the company a “buy” rating in a report on Tuesday, August 18th. Citigroup raised their target price on shares of Energy Vault from $5.00 to $6.00 and gave the stock a “buy” rating in a report on Thursday, August 20th. Finally, Cantor Fitzgerald restated an “overweight” rating and issued a $7.00 price target on shares of Energy Vault in a research report on Wednesday, August 12th. Four research analysts have rated the stock with a Buy rating, one has given a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $6.01.

Energy Vault Trading Down 5.6%

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 cap of $755.55 million, a price-to-earnings ratio of -6.30 and a beta of 1.24. The company has a 50-day moving average price of $3.68 and a 200 day moving average price of $3.99.

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

Insider Activity at Energy Vault

In other news, CFO Michael Beer sold 65,000 shares of the business’s stock in a transaction on Monday, July 6th. The shares were sold at an average price of $4.08, for a total transaction of $265,200.00. Following the transaction, the chief financial officer directly owned 1,021,806 shares in the company, valued at $4,168,968.48. The trade was a 5.98% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Stephanie Unwin sold 115,000 shares of the stock in a transaction on Wednesday, August 26th. The stock was sold at an average price of $3.71, for a total value of $426,650.00. Following the sale, the director owned 182,245 shares of the company’s stock, valued at approximately $676,128.95. This represents a 38.69% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 17.20% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Energy Vault

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. BlackRock Inc. acquired a new stake in shares of Energy Vault during the 2nd quarter valued at about $52,657,000. Legal & General Group Plc acquired a new position in Energy Vault in the second quarter worth approximately $25,508,000. SailingStone Capital Partners LLC increased its holdings in Energy Vault by 0.5% in the second quarter. SailingStone Capital Partners LLC now owns 4,469,075 shares of the company’s stock worth $21,049,000 after buying an additional 24,058 shares during the last quarter. J. Goldman & Co LP bought a new position in Energy Vault during the second quarter valued at approximately $7,085,000. Finally, Tidal Investments LLC raised its position in Energy Vault by 105.9% during the second quarter. Tidal Investments LLC now owns 688,592 shares of the company’s stock valued at $3,243,000 after acquiring an additional 354,220 shares in the last quarter. 40.03% of the stock is owned by hedge funds and other institutional investors.

About Energy Vault

Energy Vault Holdings, Inc develops and deploys energy-storage systems designed to help stabilize electric grids and integrate renewable power. The company’s technologies are intended to store electricity for later use, addressing the intermittent nature of sources such as wind and solar.

Its product portfolio includes gravity-based storage systems, including the EVx platform, which uses mechanical lifting and lowering of heavy composite blocks to store and release energy. Energy Vault also offers battery energy-storage systems, hybrid storage solutions, and VaultOS, a software platform designed to manage and optimize energy-storage assets.

Founded in 2017, Energy Vault became a publicly traded company in 2022 through a business combination with Novus Capital Corporation III.