Energy Vault (NYSE:NRGV) Stock Price Down 7.9% – Time to Sell?

Energy Vault Holdings, Inc. (NYSE:NRGV) shares fell 7.9% during trading on Friday . The stock traded as low as $2.98 and last traded at $2.9920. 812,787 shares were traded during mid-day trading, a decline of 82% from the average daily volume of 4,482,901 shares. The stock had previously closed at $3.25.

Analyst Upgrades and Downgrades

NRGV has been the subject of several analyst reports. Wall Street Zen cut Energy Vault from a “hold” rating to a “sell” rating in a report on Saturday, May 23rd. Cantor Fitzgerald began coverage on shares of Energy Vault in a report on Tuesday, May 5th. They issued an “overweight” rating and a $7.00 price target on the stock. Citigroup raised shares of Energy Vault from a “neutral” rating to a “buy” rating and lowered their price objective for the company from $5.25 to $5.00 in a research note on Wednesday. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Energy Vault in a research report on Wednesday, May 27th. Finally, Zacks Research upgraded Energy Vault from a “strong sell” rating to a “hold” rating in a research report on Monday, July 6th. Three equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $5.01.

Energy Vault Stock Down 10.9%

The company has a 50-day moving average of $4.33 and a two-hundred day moving average of $4.19. The company has a quick ratio of 1.44, a current ratio of 1.44 and a debt-to-equity ratio of 4.94. The company has a market capitalization of $516.03 million, a P/E ratio of -4.08 and a beta of 1.17.

Energy Vault (NYSE:NRGV) last released its earnings results on Tuesday, May 5th. The company reported ($0.20) earnings per share for the quarter, missing analysts’ consensus estimates 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 analysts’ expectations of $20.72 million. On average, research analysts predict that Energy Vault Holdings, Inc. will post -0.61 EPS for the current year.

Insiders Place Their Bets

In other Energy Vault news, CFO Michael Thomas Beer sold 65,000 shares of the firm’s stock in a transaction that occurred 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 completion of the transaction, the chief financial officer owned 1,021,806 shares of the company’s stock, valued at approximately $4,168,968.48. This trade represents a 5.98% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 17.20% of the company’s stock.

Institutional Investors Weigh In On Energy Vault

A number of institutional investors have recently modified their holdings of NRGV. State Street Corp boosted its stake in Energy Vault by 1,004.0% in the 4th quarter. State Street Corp now owns 5,697,735 shares of the company’s stock worth $26,267,000 after purchasing an additional 5,181,624 shares in the last quarter. Legal & General Group Plc purchased a new stake in shares of Energy Vault during the fourth quarter valued at approximately $18,217,000. Millennium Management LLC increased its position in shares of Energy Vault by 141.2% during the third quarter. Millennium Management LLC now owns 5,858,734 shares of the company’s stock valued at $17,400,000 after acquiring an additional 3,430,094 shares in the last quarter. Invesco Ltd. bought a new stake in shares of Energy Vault during the fourth quarter valued at approximately $11,454,000. Finally, Marshall Wace LLP raised its holdings in Energy Vault by 132.7% in the 4th quarter. Marshall Wace LLP now owns 3,194,205 shares of the company’s stock worth $14,725,000 after acquiring an additional 1,821,462 shares during the last quarter. 40.03% of the stock is owned by hedge funds and other institutional investors.

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.