Robert Piconi Acquires 150,000 Shares of Energy Vault Holdings, Inc. (NYSE:NRGV) Stock

Energy Vault Holdings, Inc. (NYSE:NRGV) CEO Robert Piconi purchased 150,000 shares of the company’s stock in a transaction on Friday, November 22nd. The shares were bought at an average price of $1.57 per share, with a total value of $235,500.00. Following the completion of the transaction, the chief executive officer now owns 17,623,361 shares of the company’s stock, valued at approximately $27,668,676.77. The trade was a 0.86 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this link.

Energy Vault Stock Up 0.6 %

Shares of NRGV stock opened at $1.81 on Wednesday. The firm has a 50 day moving average of $1.42 and a two-hundred day moving average of $1.19. The stock has a market capitalization of $275.34 million, a PE ratio of -2.79 and a beta of 0.45. Energy Vault Holdings, Inc. has a 52 week low of $0.78 and a 52 week high of $2.68.

Energy Vault (NYSE:NRGV) last released its earnings results on Tuesday, November 12th. The company reported ($0.18) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.15) by ($0.03). Energy Vault had a negative net margin of 73.37% and a negative return on equity of 47.41%. The company had revenue of $1.20 million during the quarter, compared to analysts’ expectations of $4.80 million. During the same quarter last year, the business posted ($0.13) earnings per share. Analysts expect that Energy Vault Holdings, Inc. will post -0.64 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several analysts recently weighed in on the stock. Roth Mkm dropped their target price on shares of Energy Vault from $2.50 to $2.00 and set a “buy” rating for the company in a report on Thursday, August 8th. TD Cowen reaffirmed a “buy” rating and issued a $2.50 price objective on shares of Energy Vault in a research note on Wednesday, November 13th. Two equities research analysts have rated the stock with a sell rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Energy Vault has a consensus rating of “Hold” and a consensus target price of $1.95.

Hedge Funds Weigh In On Energy Vault

Institutional investors and hedge funds have recently made changes to their positions in the stock. Geode Capital Management LLC raised its holdings in Energy Vault by 8.5% in the third quarter. Geode Capital Management LLC now owns 2,273,042 shares of the company’s stock valued at $2,182,000 after acquiring an additional 177,214 shares in the last quarter. State Street Corp raised its holdings in shares of Energy Vault by 1.1% in the 3rd quarter. State Street Corp now owns 1,850,702 shares of the company’s stock valued at $1,777,000 after purchasing an additional 20,915 shares in the last quarter. Vanguard Group Inc. raised its holdings in shares of Energy Vault by 2.7% in the 1st quarter. Vanguard Group Inc. now owns 1,675,361 shares of the company’s stock valued at $2,999,000 after purchasing an additional 43,764 shares in the last quarter. Bank of New York Mellon Corp lifted its position in shares of Energy Vault by 21.8% during the 2nd quarter. Bank of New York Mellon Corp now owns 341,909 shares of the company’s stock worth $325,000 after purchasing an additional 61,135 shares during the last quarter. Finally, XTX Topco Ltd grew its stake in shares of Energy Vault by 684.0% during the second quarter. XTX Topco Ltd now owns 173,016 shares of the company’s stock worth $164,000 after purchasing an additional 150,948 shares in the last quarter. 40.03% of the stock is owned by institutional investors and hedge funds.

About Energy Vault

Energy Vault Holdings, Inc develops and sells energy storage solutions. The company offers B-Vault, an electrochemical battery energy storage systems for shorter-duration energy storage needs; G-Vault, a proprietary gravity energy storage solution, including EVx solution; and H-Vault, a hybrid energy storage systems including systems that integrate green hydrogen.