Prepare Yourself for Liftoff: Energy Vault Holdings Inc. (NRGV)

Energy Vault Holdings Inc. (NYSE: NRGV) stock jumped 9.62% on Monday to $4.67 against a previous-day closing price of $4.26. With 1.83 million shares changed hands, the volume of the stock remained heavier than its average volume of 1.44 million shares. During the session, the Utilities – Renewable company that operates in wider Utilities sector, reached to the highest price of $4.7800 whereas the lowest price it dropped to was $4.2000. The 52-week range on NRGV shows that it touched its highest point at $22.10 and its lowest point at $2.21 during that stretch. It currently has a 1-year price target of $8.20.

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Price Performance and Earnings:

Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of NRGV was up-trending over the past week, with a rise of 16.75%, but this was up by 106.64% over a month. Three-month performance surged to 12.53% while six-month performance fell -20.98%. The stock lost -52.97% in the past year, while it has gained 49.68% so far this year. A look at the trailing 12-month EPS for NRGV yields -0.49 with Next year EPS estimates of -0.43. For the next quarter, that number is -0.15. This implies an EPS growth rate of -29.70% for this year and 31.70% for next year.

Float and Shares Shorts:

At present, 140.30 million NRGV shares are outstanding with a float of 109.49 million shares on hand for trading. On Oct 13, 2022, short shares totaled 3.77 million, which was 2.75% higher than short shares on Sep 14, 2022. In addition to Mr. Robert Allen Piconi as the firm’s Co-Founder, Chairman & CEO, Mr. Andrea Pedretti serves as its Co-Founder & Chief Technology Officer.

Institutional Ownership:

Through their ownership of 36.68% of NRGV’s outstanding shares, institutional investors have minority control over the company. Other institutions hold 4.77% of NRGV, in contrast to 32.05% held by mutual funds. Shares owned by individuals account for 10.09%. As the largest shareholder in NRGV with 3.03% of the stake, SailingStone Capital Partners LLC holds 4,189,012 shares worth 4,189,012. A second-largest stockholder of NRGV, BlackRock Fund Advisors, holds 3,261,823 shares, controlling over 2.36% of the firm’s shares. Invesco Capital Management LLC is the third largest shareholder in NRGV, holding 3,074,467 shares or 2.22% stake. With a 3.16% stake in NRGV, the Invesco WilderHill Clean Energy E is the largest stakeholder. A total of 4,368,807 shares are owned by the mutual fund manager. The Victory Global Energy Transition, which owns about 1.62% of NRGV stock, is the second-largest Mutual Fund holder. It holds 2,242,116 shares valued at 7.0 million. iShares Russell 2000 ETF holds 1.32% of the stake in NRGV, owning 1,823,445 shares worth 5.69 million.

Analysts Ratings:

Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for NRGV since 6 analysts follow the stock currently. There are 5 analysts who recommend BUY ratings, while 1 suggest SELL ratings. Of the remaining analysts, 0 believe that the stock is worth HOLDING, 0 give it an OVERWEIGHT rating, and 0 thinks that it’s UNDERWEIGHT. In the same way, a target price assigned to a stock can also reveal much about its potential. With NRGV analysts setting a high price target of $13.00 and a low target of $3.00, the average target price over the next 12 months is $8.67. Based on these targets, NRGV could surge 178.37% to reach the target high and fall by -35.76% to reach the target low. Reaching the average price target will result in a growth of 85.65% from current levels.

EPS: Estimates vs Actual

It is also common to use earnings estimates to evaluate a firm’s growth potential and to determine trading strategy. NRGV will report FY 2022 earnings on 02/28/2024. Analysts have provided yearly estimates in a range of -$0.54 being high and -$0.66 being low. For NRGV, this leads to a yearly average estimate of -$0.61. The earnings surprise of a firm occurs when the actual results change from the consensus earnings estimate. Energy Vault Holdings Inc. surprised analysts by -$0.07 when it reported -$0.21 EPS against a consensus estimate of -$0.14. The surprise factor in the prior quarter was $0.04. Based on analyst estimates, the high estimate for the next quarter is -$0.08 and the low estimate is -$0.18. The average estimate for the next quarter is thus -$0.13.

Summary of Insider Activity:

Insiders traded NRGV stock several times over the past three months with 0 Buys and 3 Sells. In these transactions, 0 shares were bought while 199,940 shares were sold. The number of buy transactions has increased to 39 while that of sell transactions has risen to 23 over the past year. The total number of shares bought during that period was 61,656,965 while 34,851,483 shares were sold.

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