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

Energy Vault Holdings, Inc. (NYSE:NRGV)’s stock price gapped down prior to trading on Wednesday . The stock had previously closed at $4.50, but opened at $4.36. Energy Vault shares last traded at $4.3850, with a volume of 305,081 shares changing hands.

Analyst Ratings Changes

A number of research analysts have recently commented on NRGV shares. Fundamental Research set a $5.19 price target on shares of Energy Vault and gave the company a “buy” rating in a research report on Tuesday, November 18th. Weiss Ratings reissued a “sell (e+)” rating on shares of Energy Vault in a research note on Tuesday, October 14th. Zacks Research cut Energy Vault from a “hold” rating to a “strong sell” rating in a report on Wednesday, October 15th. Finally, The Goldman Sachs Group lifted their price target on Energy Vault from $1.50 to $2.00 and gave the company a “sell” rating in a research report on Wednesday, November 12th. Three analysts have rated the stock with a Buy rating and three have issued a Sell rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $2.67.

Energy Vault Price Performance

The business has a 50-day simple moving average of $3.49 and a 200 day simple moving average of $2.14. The firm has a market cap of $752.54 million, a P/E ratio of -4.72 and a beta of 0.95. The company has a debt-to-equity ratio of 0.39, a quick ratio of 0.59 and a current ratio of 0.63.

Energy Vault (NYSE:NRGV) last issued its quarterly earnings data on Monday, November 10th. The company reported ($0.16) EPS for the quarter, missing the consensus estimate of ($0.10) by ($0.06). Energy Vault had a negative return on equity of 119.98% and a negative net margin of 172.61%.The company had revenue of $33.32 million during the quarter, compared to analysts’ expectations of $48.99 million. On average, analysts anticipate that Energy Vault Holdings, Inc. will post -0.64 earnings per share for the current fiscal year.

Insider Activity at Energy Vault

In related news, insider Akshay Ladwa sold 75,000 shares of the stock in a transaction on Thursday, September 25th. The stock was sold at an average price of $3.11, for a total transaction of $233,250.00. Following the sale, the insider directly owned 1,934,582 shares of the company’s stock, valued at $6,016,550.02. This trade represents a 3.73% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Robert Piconi bought 50,000 shares of the firm’s stock in a transaction on Wednesday, September 17th. The shares were bought at an average price of $2.30 per share, with a total value of $115,000.00. Following the completion of the purchase, the chief executive officer owned 20,182,384 shares in the company, valued at approximately $46,419,483.20. The trade was a 0.25% increase in their position. The SEC filing for this purchase provides additional information. In the last three months, insiders have acquired 77,500 shares of company stock valued at $197,850 and have sold 200,000 shares valued at $584,000. 19.80% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Energy Vault

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Private Capital Advisors Inc. lifted its position in Energy Vault by 41.0% during the second quarter. Private Capital Advisors Inc. now owns 687,260 shares of the company’s stock valued at $493,000 after purchasing an additional 200,000 shares during the last quarter. Nuveen LLC bought a new stake in shares of Energy Vault in the 1st quarter worth about $190,000. Y Intercept Hong Kong Ltd purchased a new stake in shares of Energy Vault during the 2nd quarter valued at about $156,000. Mesirow Financial Investment Management Inc. lifted its holdings in shares of Energy Vault by 19.0% in the 2nd quarter. Mesirow Financial Investment Management Inc. now owns 125,000 shares of the company’s stock valued at $90,000 after acquiring an additional 20,000 shares during the last quarter. Finally, Catalyst Funds Management Pty Ltd bought a new position in shares of Energy Vault in the 2nd quarter valued at about $36,000. 40.03% of the stock is owned by hedge funds and other institutional investors.

Energy Vault Company Profile

Energy Vault Holdings, Inc develops and sells energy storage solutions. The company offers B-Vault, an electrochemical battery energy storage systems for shorter-duration energy storage needs; G-Vault, a proprietary gravity energy storage solution, including EVx solution; and H-Vault, a hybrid energy storage systems including systems that integrate green hydrogen.