Energy Vault (NYSE:NRGV) Stock Price Up 12.8% – Should You Buy?

by · The Cerbat Gem

Energy Vault Holdings, Inc. (NYSE:NRGVGet Free Report)’s share price shot up 12.8% during mid-day trading on Thursday . The stock traded as high as $5.40 and last traded at $5.3020. 740,128 shares were traded during trading, a decline of 65% from the average session volume of 2,144,500 shares. The stock had previously closed at $4.70.

Analyst Upgrades and Downgrades

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

View Our Latest Stock Analysis on NRGV

Energy Vault Trading Up 12.4%

The firm has a market cap of $886.77 million, a P/E ratio of -5.52 and a beta of 0.95. The company’s 50 day moving average is $3.68 and its two-hundred day moving average is $2.30. The company has a debt-to-equity ratio of 0.39, a current ratio of 0.63 and a quick ratio of 0.59.

Energy Vault (NYSE:NRGVGet Free Report) last posted its quarterly earnings results 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 net margin of 172.61% and a negative return on equity of 119.98%. The firm had revenue of $33.32 million during the quarter, compared to analyst estimates of $48.99 million. On average, sell-side analysts predict that Energy Vault Holdings, Inc. will post -0.64 earnings per share for the current year.

Insider Buying and Selling at Energy Vault

In other Energy Vault news, insider Akshay Ladwa sold 75,000 shares of the business’s stock in a transaction on Thursday, September 25th. The shares were sold at an average price of $3.11, for a total value of $233,250.00. Following the sale, the insider owned 1,934,582 shares of the company’s stock, valued at $6,016,550.02. The trade was a 3.73% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Robert Piconi acquired 17,500 shares of the company’s stock in a transaction dated Friday, September 19th. The stock was acquired at an average price of $3.02 per share, with a total value of $52,850.00. Following the purchase, the chief executive officer owned 20,199,884 shares in the company, valued at approximately $61,003,649.68. This represents a 0.09% increase in their position. The SEC filing for this purchase provides additional information. 15.40% of the stock is owned by company insiders.

Institutional Trading of Energy Vault

A number of large investors have recently bought and sold shares of NRGV. Verition Fund Management LLC bought a new position in shares of Energy Vault during the third quarter valued at $120,000. Nomura Holdings Inc. raised its stake in shares of Energy Vault by 27.3% in the third quarter. Nomura Holdings Inc. now owns 83,689 shares of the company’s stock valued at $249,000 after acquiring an additional 17,961 shares during the last quarter. Mercer Global Advisors Inc. ADV bought a new position in shares of Energy Vault in the third quarter valued at approximately $36,000. Millennium Management LLC boosted its holdings in shares of Energy Vault by 141.2% in the 3rd quarter. Millennium Management LLC now owns 5,858,734 shares of the company’s stock worth $17,400,000 after acquiring an additional 3,430,094 shares in the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in Energy Vault by 26.7% during the 3rd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 141,381 shares of the company’s stock worth $427,000 after acquiring an additional 29,817 shares during the last quarter. 40.03% of the stock is currently owned by institutional investors.

About Energy Vault

(Get Free Report)

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.

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