Energy Vault (NYSE:NRGV) Shares Down 7.7% – Here’s What Happened

Energy Vault Holdings, Inc. (NYSE:NRGV)’s share price fell 7.7% during mid-day trading on Friday . The company traded as low as $3.50 and last traded at $3.4330. 2,762,827 shares were traded during mid-day trading, a decline of 26% from the average session volume of 3,719,440 shares. The stock had previously closed at $3.72.

Analysts Set New Price Targets

A number of equities analysts recently commented on NRGV shares. Weiss Ratings reiterated a “sell (e+)” rating on shares of Energy Vault in a research report on Friday, January 9th. The Goldman Sachs Group upped their price target on shares of Energy Vault from $1.75 to $2.00 and gave the company a “sell” rating in a research report on Thursday. Finally, Zacks Research cut Energy Vault from a “hold” rating to a “strong sell” rating in a research note on Tuesday, February 17th. One investment analyst has rated the stock with a Buy rating and three have issued a Sell rating to the company. According to MarketBeat, Energy Vault currently has a consensus rating of “Reduce” and an average price target of $3.60.

Energy Vault Trading Down 10.6%

The firm’s 50 day moving average is $4.09 and its 200 day moving average is $3.80. The company has a debt-to-equity ratio of 0.56, a current ratio of 0.73 and a quick ratio of 0.59. The company has a market capitalization of $557.90 million, a PE ratio of -5.12 and a beta of 0.98.

Energy Vault (NYSE:NRGV) last announced its quarterly earnings results on Tuesday, March 17th. The company reported ($0.13) earnings per share for the quarter, missing the consensus estimate of ($0.07) by ($0.06). The firm had revenue of $153.31 million for the quarter, compared to analysts’ expectations of $152.57 million. Energy Vault had a negative net margin of 50.87% and a negative return on equity of 106.69%. As a group, equities analysts predict that Energy Vault Holdings, Inc. will post -0.64 EPS for the current year.

Insider Transactions at Energy Vault

In other Energy Vault news, major shareholder Vision Fund (Aiv M2) Softbank sold 3,000,000 shares of the company’s stock in a transaction that occurred on Thursday, January 15th. The stock was sold at an average price of $5.65, for a total transaction of $16,950,000.00. Following the completion of the transaction, the insider owned 15,535,631 shares of the company’s stock, valued at $87,776,315.15. This represents a 16.19% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Michael Thomas Beer sold 50,000 shares of the stock in a transaction that occurred on Tuesday, December 23rd. The stock was sold at an average price of $4.91, for a total value of $245,500.00. Following the completion of the sale, the chief financial officer owned 1,150,522 shares of the company’s stock, valued at approximately $5,649,063.02. This trade represents a 4.16% decrease in their position. The SEC filing for this sale provides additional information. Over the last quarter, insiders have bought 16,950 shares of company stock valued at $55,062. 15.40% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Energy Vault

Hedge funds and other institutional investors have recently made changes to their positions in the business. Hsbc Holdings PLC purchased a new stake in Energy Vault in the fourth quarter worth $53,000. Cambient Family Office LLC purchased a new position in Energy Vault during the 4th quarter valued at $320,000. Invesco Ltd. bought a new position in Energy Vault in the 4th quarter worth $11,454,000. Beartown Capital Management LLC purchased a new stake in shares of Energy Vault in the 4th quarter worth about $2,766,000. Finally, Mercer Global Advisors Inc. ADV boosted its stake in shares of Energy Vault by 70.0% during the 4th quarter. Mercer Global Advisors Inc. ADV now owns 20,808 shares of the company’s stock valued at $96,000 after purchasing an additional 8,570 shares in the last quarter. Institutional investors own 40.03% of the company’s stock.

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.