Energy Vault Holdings, Inc. (NYSE: NRGV) saw its stock price plummet by 24.59% during Wednesday's trading session, as investors reacted to a less-than-optimistic analyst rating. The significant drop came amid a mixed day for the broader market, with major indices showing varied performance.

The catalyst for Energy Vault's steep decline appears to be tied to a recent analyst action. Goldman Sachs analyst Brian Lee maintained a Sell rating on the company's stock, although he did raise the price target from $1.5 to $2. Despite the slight increase in the price target, the maintained Sell rating seems to have spooked investors, leading to a mass sell-off of NRGV shares.

This sharp downturn highlights the impact that analyst ratings can have on investor sentiment, particularly for smaller or less established companies like Energy Vault Holdings. As the market continues to digest this information, investors will be closely watching for any further developments or responses from the company that might influence the stock's future performance.