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

Energy Vault Holdings, Inc. (NYSE:NRGV) CEO Robert Piconi purchased 150,000 shares of the firm’s stock in a transaction on Friday, November 22nd. The shares were purchased at an average cost 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 position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.

Energy Vault Stock Up 4.7 %

NRGV stock opened at $1.90 on Thursday. The stock has a market capitalization of $288.27 million, a PE ratio of -2.92 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. The firm has a 50 day moving average of $1.44 and a 200 day moving average of $1.19.

Energy Vault (NYSE:NRGV) last posted its quarterly earnings data on Tuesday, November 12th. The company reported ($0.18) 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 company had revenue of $1.20 million for the quarter, compared to analyst estimates of $4.80 million. During the same quarter in the previous year, the firm posted ($0.13) earnings per share. On average, equities research analysts expect that Energy Vault Holdings, Inc. will post -0.64 earnings per share for the current year.

Institutional Trading of Energy Vault

Several large investors have recently added to or reduced their stakes in NRGV. Vanguard Group Inc. lifted its holdings in shares of Energy Vault by 2.7% during the first quarter. Vanguard Group Inc. now owns 1,675,361 shares of the company’s stock worth $2,999,000 after purchasing an additional 43,764 shares during the period. Jacobs Levy Equity Management Inc. purchased a new position in Energy Vault during the 1st quarter worth approximately $91,000. XTX Topco Ltd lifted its stake in Energy Vault by 684.0% during the 2nd quarter. XTX Topco Ltd now owns 173,016 shares of the company’s stock valued at $164,000 after acquiring an additional 150,948 shares during the period. Mesirow Financial Investment Management Inc. boosted its holdings in shares of 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 acquiring an additional 20,000 shares during the last quarter. Finally, Bank of New York Mellon Corp increased its stake in shares of Energy Vault by 21.8% in the second quarter. Bank of New York Mellon Corp now owns 341,909 shares of the company’s stock worth $325,000 after acquiring an additional 61,135 shares during the period. Hedge funds and other institutional investors own 40.03% of the company’s stock.

Analysts Set New Price Targets

NRGV has been the subject of several recent analyst reports. Roth Mkm reduced 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. TD Cowen reaffirmed a “buy” rating and set a $2.50 price target on shares of Energy Vault in a research report on Wednesday, November 13th. Two research analysts have rated the stock with a sell rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target 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.