Energy Vault Holdings, Inc. (NYSE:NRGV) CEO Robert Piconi Purchases 150,000 Shares

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 stock was bought at an average price of $1.57 per share, for a total transaction of $235,500.00. Following the completion of the purchase, the chief executive officer now directly owns 17,623,361 shares of the company’s stock, valued at $27,668,676.77. The trade was a 0.86 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

Energy Vault Trading Up 0.6 %

Shares of NRGV opened at $1.81 on Wednesday. The company’s 50 day simple moving average is $1.42 and its 200-day simple moving average is $1.19. The firm has a market cap of $275.34 million, a PE ratio of -2.79 and a beta of 0.45. Energy Vault Holdings, Inc. has a 12-month low of $0.78 and a 12-month high of $2.68.

Energy Vault (NYSE:NRGV) last issued its quarterly earnings data 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 period in the previous year, the business posted ($0.13) earnings per share. As a group, equities research analysts forecast that Energy Vault Holdings, Inc. will post -0.64 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on NRGV. TD Cowen restated a “buy” rating and issued a $2.50 target price on shares of Energy Vault in a report on Wednesday, November 13th. Roth Mkm decreased their price objective on shares of Energy Vault from $2.50 to $2.00 and set a “buy” rating for the company in a research note on Thursday, August 8th. Two analysts have rated the stock with a sell rating and four have issued a buy rating to the company. Based on data from MarketBeat, Energy Vault has a consensus rating of “Hold” and an average price target of $1.95.

Hedge Funds Weigh In On Energy Vault

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. lifted its position in Energy Vault by 2.7% during the 1st quarter. Vanguard Group Inc. now owns 1,675,361 shares of the company’s stock worth $2,999,000 after acquiring an additional 43,764 shares during the period. Jacobs Levy Equity Management Inc. acquired a new stake in shares of Energy Vault during the first quarter worth $91,000. XTX Topco Ltd lifted its holdings 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 during the period. Mesirow Financial Investment Management Inc. grew its position in Energy Vault by 33.3% in the 2nd quarter. Mesirow Financial Investment Management Inc. now owns 80,000 shares of the company’s stock valued at $76,000 after buying an additional 20,000 shares during the last quarter. Finally, Bank of New York Mellon Corp raised its position in 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 buying an additional 61,135 shares during the last quarter. Hedge funds and other institutional investors own 40.03% of the company’s stock.

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.