Goldman Sachs Keeps Sell Rating on Energy Vault Holdings, Increases Price Target to $2
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Nov 12 2025
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Should l Buy NRGV?
Source: Benzinga
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Analyst Views on NRGV
Wall Street analysts forecast NRGV stock price to rise
3 Analyst Rating
2 Buy
0 Hold
1 Sell
Moderate Buy
Current: 3.340
Low
2.00
Averages
3.73
High
5.19
Current: 3.340
Low
2.00
Averages
3.73
High
5.19
About NRGV
Energy Vault Holdings, Inc. develops, deploys and operates utility-scale energy storage solutions designed to transform the approach to sustainable energy storage. Its comprehensive offerings include proprietary battery, gravity and green hydrogen energy storage technologies supporting a variety of customer use cases delivering energy system dispatching and optimization. Each storage solution is supported by the Company’s technology-agnostic energy management system software and integration platform. Its technology portfolio delivers customized short, long and multi-day/ultra-long duration energy storage solutions to help utilities, independent power producers, and large industrial energy users. Its solutions include B-Vault, B-Nest, G-Vault, H-Vault and software solutions. Its software solutions include Vault-OS Energy Management System, Vault-Bidder and Vault-Manager. Its projects include Calistoga Resiliency Center, Cross Trails Battery Energy Storage System and SOSA Energy Center.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
Energy Vault Acquires McMurtre BESS Project to Enhance 1,500 MW Deployment Roadmap
- Project Acquisition: Energy Vault has acquired the 175 MW / 350 MWh McMurtre Battery Energy Storage System from Belltown Power, further advancing its 1,500 MW BESS deployment roadmap and enhancing its competitive position in the U.S. market.
- Revenue Projections: The project is expected to generate $15–$20 million in annual revenues over its technical life, with total expected lifetime revenues exceeding $350 million, showcasing strong financial potential and sustainable cash flows.
- Market Positioning: Located in the ERCOT North market, known for robust power price dynamics and rapidly growing data center demand, the McMurtre project ensures strategic fit and predictable future earnings.
- Portfolio Strategy: This acquisition increases Energy Vault's total installed capacity to 715 MW under its Asset Vault platform, reflecting the company's integrated strategy across battery storage, powered land, and powered shells, thereby strengthening its leadership in the global energy infrastructure market.
See More
Energy Vault Sparks Market with Rapid Expansion
Company Performance: Energy Vault (NYSE: NRGV) is on track to sustain high growth and improve profitability, with Q4 results showing a significant increase in revenue and operational capacity, leading to positive adjusted earnings.
Innovative Technology: The company focuses on utility-grade energy storage solutions, utilizing a gravity-fed system for long-term energy storage, which offers advantages over traditional battery systems.
Future Outlook: Energy Vault forecasts a 30% revenue growth for 2026, supported by increased capacity and a growing backlog, indicating a strong potential for continued profitability.
Market Sentiment: Despite recent positive results, analysts express caution, noting a sell-side bias and concerns about potential dilution and increasing debt, while some view the stock as overvalued.
See More
Energy Vault Holdings Reports Strong Q4 2025 Earnings and Strategic Transition
- Contract Backlog Growth: Energy Vault's contract backlog increased by 42% quarter-over-quarter to $1.3 billion, demonstrating strong momentum in the transition to the Asset Vault strategy, which is expected to drive high-margin recurring revenue streams in the future.
- Revenue and Profit Improvement: The company reported Q4 revenue of $153.3 million, a significant increase from $33.5 million in the prior year, with full-year revenue reaching $203.7 million and gross margin improving from 13.4% to 23.6%, reflecting substantial operational efficiency gains.
- Positive EBITDA Transition: Adjusted EBITDA turned positive at $9.8 million in Q4, a significant improvement from a loss of $13.4 million in the prior year, indicating strong growth in revenue and unit economics, which enhances future financial stability.
- 2026 Outlook: The company projects 2026 revenue between $225 million and $300 million, with gross margins expected to range from 15% to 25%, showcasing confidence in future growth while planning to support liquidity through project financing and customer receivables.
See More
Energy Vault Reports Q4 Earnings Exceeding Expectations
- Profitability Improvement: Energy Vault's Q4 2025 non-GAAP EPS of $0.02 exceeded expectations by $0.04, indicating a significant enhancement in the company's profitability and reflecting the effectiveness of its business model.
- Substantial Revenue Growth: The company reported Q4 2025 revenue of $153.3 million, a remarkable 358% increase year-over-year, surpassing estimates by $0.74 million, demonstrating strong sales growth amid surging market demand.
- Significant Margin Improvement: GAAP gross profit for 2025 reached $48 million, nearly 8 times higher than the previous year, with gross margin rising from 13.4% to 23.6%, well above the original 2025 guidance range, showcasing enhanced cost control and operational efficiency.
- Strong Cash Position: As of December 31, 2025, cash climbed to $103.4 million, up 67% sequentially from Q3 and over 300% year-over-year, providing robust financial support for the company's future expansion and investments.
See More
Energy Vault Holdings to Announce Q4 Earnings on March 17
- Earnings Announcement: Energy Vault Holdings is set to release its Q4 earnings on March 17, with consensus EPS estimates at -$0.02 and revenue expectations of $152.56 million, reflecting a remarkable 355.8% year-over-year growth, indicating strong growth potential for the company.
- Convertible Notes Offering: The company plans to offer $125 million in convertible senior notes, despite an 18% drop in share price, aiming to enhance financial flexibility and support future growth strategies, demonstrating management's confidence in the company's outlook.
- Market Reaction: Although the projected revenue exceeds market expectations, Energy Vault's stock price has declined, reflecting investor concerns about the company's financial health, which could impact future financing capabilities and market confidence.
- Analyst Ratings: Seeking Alpha's Quant Rating on Energy Vault Holdings highlights a compelling growth story with substantial upside potential, suggesting that despite current short-term volatility, the long-term outlook remains optimistic.
See More
Energy Vault Secures $135.5 Million Financing to Accelerate Growth
- Successful Financing: Energy Vault has closed a financing transaction that resulted in $135.5 million in proceeds, after deducting initial purchaser commissions, which will be utilized to accelerate its strategic development in sustainable energy storage and AI infrastructure, significantly enhancing the company's financial flexibility.
- AI Infrastructure Entry: The company has signed a multi-year strategic framework agreement with data center infrastructure leader Crusoe, marking Energy Vault's formal entry into the AI infrastructure sector, which is expected to enhance long-term revenue and earnings potential significantly.
- Australian Project Expansion: Energy Vault secured a 100 MW / 870 MWh Long-Term Energy Service Agreement in New South Wales, ensuring a 14-year contract that further solidifies its position in the Australian market and lays the groundwork for future revenue growth.
- New Technology Partnership: The partnership with Peak Energy focuses on developing a sodium-ion battery platform tailored for AI data centers, including a 1.5 GWh off-take agreement, aimed at reducing system costs and enhancing safety performance, thereby expanding the company's technology product offerings.
See More
Energy Vault Acquires McMurtre BESS Project to Enhance 1,500 MW Deployment Roadmap
- Project Acquisition: Energy Vault has acquired the 175 MW / 350 MWh McMurtre Battery Energy Storage System from Belltown Power, further advancing its 1,500 MW BESS deployment roadmap and enhancing its competitive position in the U.S. market.
- Revenue Projections: The project is expected to generate $15–$20 million in annual revenues over its technical life, with total expected lifetime revenues exceeding $350 million, showcasing strong financial potential and sustainable cash flows.
- Market Positioning: Located in the ERCOT North market, known for robust power price dynamics and rapidly growing data center demand, the McMurtre project ensures strategic fit and predictable future earnings.
- Portfolio Strategy: This acquisition increases Energy Vault's total installed capacity to 715 MW under its Asset Vault platform, reflecting the company's integrated strategy across battery storage, powered land, and powered shells, thereby strengthening its leadership in the global energy infrastructure market.
See More
Energy Vault Sparks Market with Rapid Expansion
Company Performance: Energy Vault (NYSE: NRGV) is on track to sustain high growth and improve profitability, with Q4 results showing a significant increase in revenue and operational capacity, leading to positive adjusted earnings.
Innovative Technology: The company focuses on utility-grade energy storage solutions, utilizing a gravity-fed system for long-term energy storage, which offers advantages over traditional battery systems.
Future Outlook: Energy Vault forecasts a 30% revenue growth for 2026, supported by increased capacity and a growing backlog, indicating a strong potential for continued profitability.
Market Sentiment: Despite recent positive results, analysts express caution, noting a sell-side bias and concerns about potential dilution and increasing debt, while some view the stock as overvalued.
See More
Energy Vault Holdings Reports Strong Q4 2025 Earnings and Strategic Transition
- Contract Backlog Growth: Energy Vault's contract backlog increased by 42% quarter-over-quarter to $1.3 billion, demonstrating strong momentum in the transition to the Asset Vault strategy, which is expected to drive high-margin recurring revenue streams in the future.
- Revenue and Profit Improvement: The company reported Q4 revenue of $153.3 million, a significant increase from $33.5 million in the prior year, with full-year revenue reaching $203.7 million and gross margin improving from 13.4% to 23.6%, reflecting substantial operational efficiency gains.
- Positive EBITDA Transition: Adjusted EBITDA turned positive at $9.8 million in Q4, a significant improvement from a loss of $13.4 million in the prior year, indicating strong growth in revenue and unit economics, which enhances future financial stability.
- 2026 Outlook: The company projects 2026 revenue between $225 million and $300 million, with gross margins expected to range from 15% to 25%, showcasing confidence in future growth while planning to support liquidity through project financing and customer receivables.
See More
Energy Vault Reports Q4 Earnings Exceeding Expectations
- Profitability Improvement: Energy Vault's Q4 2025 non-GAAP EPS of $0.02 exceeded expectations by $0.04, indicating a significant enhancement in the company's profitability and reflecting the effectiveness of its business model.
- Substantial Revenue Growth: The company reported Q4 2025 revenue of $153.3 million, a remarkable 358% increase year-over-year, surpassing estimates by $0.74 million, demonstrating strong sales growth amid surging market demand.
- Significant Margin Improvement: GAAP gross profit for 2025 reached $48 million, nearly 8 times higher than the previous year, with gross margin rising from 13.4% to 23.6%, well above the original 2025 guidance range, showcasing enhanced cost control and operational efficiency.
- Strong Cash Position: As of December 31, 2025, cash climbed to $103.4 million, up 67% sequentially from Q3 and over 300% year-over-year, providing robust financial support for the company's future expansion and investments.
See More
Energy Vault Holdings to Announce Q4 Earnings on March 17
- Earnings Announcement: Energy Vault Holdings is set to release its Q4 earnings on March 17, with consensus EPS estimates at -$0.02 and revenue expectations of $152.56 million, reflecting a remarkable 355.8% year-over-year growth, indicating strong growth potential for the company.
- Convertible Notes Offering: The company plans to offer $125 million in convertible senior notes, despite an 18% drop in share price, aiming to enhance financial flexibility and support future growth strategies, demonstrating management's confidence in the company's outlook.
- Market Reaction: Although the projected revenue exceeds market expectations, Energy Vault's stock price has declined, reflecting investor concerns about the company's financial health, which could impact future financing capabilities and market confidence.
- Analyst Ratings: Seeking Alpha's Quant Rating on Energy Vault Holdings highlights a compelling growth story with substantial upside potential, suggesting that despite current short-term volatility, the long-term outlook remains optimistic.
See More
Energy Vault Secures $135.5 Million Financing to Accelerate Growth
- Successful Financing: Energy Vault has closed a financing transaction that resulted in $135.5 million in proceeds, after deducting initial purchaser commissions, which will be utilized to accelerate its strategic development in sustainable energy storage and AI infrastructure, significantly enhancing the company's financial flexibility.
- AI Infrastructure Entry: The company has signed a multi-year strategic framework agreement with data center infrastructure leader Crusoe, marking Energy Vault's formal entry into the AI infrastructure sector, which is expected to enhance long-term revenue and earnings potential significantly.
- Australian Project Expansion: Energy Vault secured a 100 MW / 870 MWh Long-Term Energy Service Agreement in New South Wales, ensuring a 14-year contract that further solidifies its position in the Australian market and lays the groundwork for future revenue growth.
- New Technology Partnership: The partnership with Peak Energy focuses on developing a sodium-ion battery platform tailored for AI data centers, including a 1.5 GWh off-take agreement, aimed at reducing system costs and enhancing safety performance, thereby expanding the company's technology product offerings.
See More
