Citigroup Upgrades Energy Vault (NYSE:NRGV) to “Buy”

Energy Vault (NYSE:NRGV) was upgraded by analysts at Citigroup from a “neutral” rating to a “buy” rating in a note issued to investors on Wednesday, MarketBeat reports. The firm currently has a $5.00 target price on the stock, down from their prior target price of $5.25. Citigroup’s target price would indicate a potential upside of 53.61% from the stock’s current price.

Other analysts have also issued reports about the stock. Cantor Fitzgerald initiated coverage on shares of Energy Vault in a research note on Tuesday, May 5th. They set an “overweight” rating and a $7.00 target price for the company. Wall Street Zen lowered shares of Energy Vault from a “hold” rating to a “sell” rating in a research report on Saturday, May 23rd. Fundamental Research set a $6.05 price target on shares of Energy Vault and gave the stock a “buy” rating in a research report on Tuesday, March 24th. Zacks Research raised Energy Vault from a “strong sell” rating to a “hold” rating in a report on Monday, July 6th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Energy Vault in a research report on Wednesday, May 27th. Three analysts have rated the stock with a Buy rating, one has issued a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $5.01.

Energy Vault Trading Down 2.8%

Shares of NRGV stock opened at $3.25 on Wednesday. The stock has a 50-day simple moving average of $4.39 and a 200 day simple moving average of $4.20. The stock has a market capitalization of $580.20 million, a P/E ratio of -4.58 and a beta of 1.17. Energy Vault has a fifty-two week low of $1.02 and a fifty-two week high of $6.64. The company has a quick ratio of 1.44, a current ratio of 1.44 and a debt-to-equity ratio of 4.94.

Energy Vault (NYSE:NRGV) last issued its quarterly earnings results on Tuesday, May 5th. The company reported ($0.20) EPS for the quarter, missing the consensus estimate of ($0.15) by ($0.05). Energy Vault had a negative return on equity of 171.09% and a negative net margin of 52.97%.The business had revenue of $21.88 million during the quarter, compared to the consensus estimate of $20.72 million. On average, sell-side analysts expect that Energy Vault will post -0.61 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Energy Vault news, CFO Michael Thomas Beer sold 65,000 shares of the company’s stock in a transaction dated Monday, July 6th. The shares were sold at an average price of $4.08, for a total transaction of $265,200.00. Following the completion of the sale, the chief financial officer directly owned 1,021,806 shares of the company’s stock, valued at approximately $4,168,968.48. This represents a 5.98% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 17.20% of the company’s stock.

Institutional Investors Weigh In On Energy Vault

A number of large investors have recently made changes to their positions in the company. Forte Asset Management LLC acquired a new position in Energy Vault in the 1st quarter worth approximately $33,000. Mercer Global Advisors Inc. ADV purchased a new position in Energy Vault during the 3rd quarter worth approximately $36,000. XTX Topco Ltd acquired a new stake in Energy Vault during the 2nd quarter valued at $39,000. Banco BTG Pactual S.A. acquired a new stake in Energy Vault during the 3rd quarter valued at $43,000. Finally, Calamos Advisors LLC purchased a new stake in shares of Energy Vault in the first quarter valued at $48,000. Institutional investors and hedge funds 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.