Energy Vault Holdings, Inc. (NYSE:NRGV) Insider Akshay Ladwa Sells 10,253 Shares of Stock

Energy Vault Holdings, Inc. (NYSE:NRGV) insider Akshay Ladwa sold 10,253 shares of the business’s stock in a transaction on Friday, February 7th. The shares were sold at an average price of $1.64, for a total transaction of $16,814.92. Following the completion of the transaction, the insider now owns 1,447,349 shares in the company, valued at approximately $2,373,652.36. The trade was a 0.70 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.

Akshay Ladwa also recently made the following trade(s):

• On Friday, January 10th, Akshay Ladwa sold 4,762 shares of Energy Vault stock. The shares were sold at an average price of $1.96, for a total value of $9,333.52.

Energy Vault Trading Down 8.6 %

Shares of NYSE NRGV opened at $1.55 on Wednesday. Energy Vault Holdings, Inc. has a 12-month low of $0.78 and a 12-month high of $2.70. The firm has a market capitalization of $235.03 million, a price-to-earnings ratio of -2.38 and a beta of 0.40. The firm has a 50 day moving average of $1.93 and a 200 day moving average of $1.50.

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 the consensus estimate of ($0.15) by ($0.03). Energy Vault had a negative return on equity of 47.41% and a negative net margin of 73.37%. The business had revenue of $1.20 million for the quarter, compared to analysts’ expectations of $4.80 million. During the same quarter in the prior year, the business posted ($0.13) EPS. Sell-side analysts predict that Energy Vault Holdings, Inc. will post -0.64 EPS for the current year.

Institutional Investors Weigh In On Energy Vault

Several large investors have recently bought and sold shares of NRGV. Geode Capital Management LLC lifted its position 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 worth $2,182,000 after buying an additional 177,214 shares during the last quarter. State Street Corp increased its stake in shares of Energy Vault by 1.1% during the third quarter. State Street Corp now owns 1,850,702 shares of the company’s stock valued at $1,777,000 after buying an additional 20,915 shares during the period. Charles Schwab Investment Management Inc. raised its holdings in shares of Energy Vault by 44.2% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 889,493 shares of the company’s stock valued at $2,028,000 after acquiring an additional 272,465 shares in the last quarter. Rhumbline Advisers lifted its stake in Energy Vault by 4.9% in the fourth quarter. Rhumbline Advisers now owns 146,881 shares of the company’s stock worth $335,000 after acquiring an additional 6,851 shares during the period. Finally, Barclays PLC boosted its stake in shares of Energy Vault by 225.2% during the third quarter. Barclays PLC now owns 143,759 shares of the company’s stock valued at $137,000 after purchasing an additional 99,550 shares in the last quarter. Institutional investors own 40.03% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, TD Cowen reiterated a “buy” rating and set a $2.50 target price on shares of Energy Vault in a research report on Wednesday, November 13th. Two equities research analysts have rated the stock with a sell rating and three have issued a buy rating to the company. According to data from MarketBeat, Energy Vault currently has a consensus rating of “Hold” and an average target price of $1.95.

Energy Vault Company Profile

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.