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Energy Vault Holdings , Inc. (NYSE:NRGV), a Delaware-based energy storage company, disclosed on Monday that it has received a non-compliance notice from the New York Stock Exchange (NYSE) due to its stock price falling below the required minimum. The stock has experienced significant pressure, currently trading at $0.63, representing a 65.2% decline over the past six months according to InvestingPro data. The notification, dated April 16, 2025, stated that the company’s average closing stock price was less than $1.00 over a consecutive 30-trading-day period, breaching Section 802.01C of the NYSE Listed Company Manual.
The company, formerly known as Novus Capital Corp II, has six months from the date of the notice to regain compliance with the NYSE’s minimum stock price requirement. While the company maintains more cash than debt on its balance sheet, InvestingPro analysis indicates concerning financial metrics, including negative EBITDA of $127.44 million and an overall weak financial health score. Energy Vault has announced its intention to inform the NYSE by May 1, 2025, of its plan to address the stock price deficiency and aims to explore all available options, including actions that may require stockholder approval.
During this six-month period, Energy Vault’s common stock will continue to be listed and traded on the NYSE. The company’s management has expressed confidence in their ability to resolve the issue and comply with the NYSE’s continued listing standards. InvestingPro subscribers have access to 14 additional key insights about Energy Vault, including detailed analysis of its cash burn rate and profitability prospects. However, they also acknowledged the significant risks and uncertainties involved, including their ability to maintain compliance with the NYSE’s listing standards.
The company’s latest financial information was filed in its Annual Report on Form 10-K for the year ended December 31, 2024, and is available on the SEC’s website. This report is based on a press release statement and includes forward-looking statements subject to risks and uncertainties that could cause actual results to differ materially from those projected.
Energy Vault specializes in miscellaneous electrical machinery, equipment, and supplies, operating under the SIC code 3690 in the manufacturing sector. The company’s headquarters are located in Westlake Village, California. Based on current market conditions and comprehensive analysis available through InvestingPro’s Research Reports, the stock appears to be trading below its Fair Value, though investors should note the company’s high price volatility and challenging financial metrics.
In other recent news, Energy Vault Holdings Inc. reported its Q4 2024 earnings, revealing a revenue shortfall and a larger-than-expected loss per share of $0.14, compared to forecasts. The company generated $33.5 million in revenue for the quarter, contributing to a full-year total of $46.2 million, which was slightly below its guidance. Despite these setbacks, Energy Vault expanded its revenue backlog by 90% quarter-over-quarter. The company anticipates significant cash inflows from project financings and investment tax credits, estimated between $70-80 million, with funds expected to be available within the next two quarters. In strategic developments, Energy Vault appointed Dylan Hixon to its Board of Directors, bringing expertise in transformative technologies. The company also announced advancements in its energy storage systems, including a partnership with Skidmore, Owings & Merrill for next-generation gravity energy storage systems. Analyst firms have noted Energy Vault’s innovative approach, which positions it as a potential key player in the transition to sustainable energy.
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