Energy Vault Holdings, Inc. (NYSE:NRGV) Insider Akshay Ladwa Sells 26,698 Shares

Energy Vault Holdings, Inc. (NYSE:NRGV) insider Akshay Ladwa sold 26,698 shares of the company’s stock in a transaction dated Friday, April 4th. The shares were sold at an average price of $0.71, for a total value of $18,955.58. Following the completion of the sale, the insider now directly owns 2,270,651 shares of the company’s stock, valued at approximately $1,612,162.21. This trade represents a 1.16 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.

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

• On Friday, February 7th, Akshay Ladwa sold 10,253 shares of Energy Vault stock. The shares were sold at an average price of $1.64, for a total transaction of $16,814.92.
• On Friday, January 10th, Akshay Ladwa sold 4,762 shares of Energy Vault stock. The stock was sold at an average price of $1.96, for a total transaction of $9,333.52.

Energy Vault Trading Down 13.0 %

NRGV opened at $0.67 on Wednesday. The stock has a market capitalization of $101.77 million, a P/E ratio of -1.03 and a beta of 0.73. Energy Vault Holdings, Inc. has a 12 month low of $0.63 and a 12 month high of $2.70. The firm’s fifty day simple moving average is $1.24 and its 200 day simple moving average is $1.55.

Energy Vault (NYSE:NRGV) last released its quarterly earnings results on Monday, March 17th. The company reported ($0.35) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.14) by ($0.21). The firm had revenue of $38.95 million during the quarter, compared to analyst estimates of $42.51 million. Energy Vault had a negative net margin of 73.37% and a negative return on equity of 47.41%. On average, equities research analysts predict that Energy Vault Holdings, Inc. will post -0.64 EPS for the current fiscal year.

Hedge Funds Weigh In On Energy Vault

A number of large investors have recently bought and sold shares of the company. State Street Corp raised its holdings in shares of Energy Vault by 1.1% in the third 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 during the last quarter. Barclays PLC grew its position in Energy Vault by 225.2% in 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. Geode Capital Management LLC grew 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 valued at $2,182,000 after purchasing an additional 177,214 shares in the last quarter. SG Americas Securities LLC increased its stake in Energy Vault by 22.5% in the 4th quarter. SG Americas Securities LLC now owns 43,600 shares of the company’s stock valued at $99,000 after buying an additional 7,999 shares during the last quarter. Finally, PFG Investments LLC bought a new stake in Energy Vault during the 4th quarter worth about $42,000. Institutional investors and hedge funds own 40.03% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently commented on NRGV. Roth Mkm dropped their price objective on Energy Vault from $2.50 to $1.50 and set a “buy” rating on the stock in a research note on Thursday, March 20th. The Goldman Sachs Group dropped their price target on Energy Vault from $1.00 to $0.75 and set a “sell” rating on the stock in a research report on Wednesday, March 19th. Finally, TD Cowen cut their price objective on Energy Vault from $2.50 to $2.00 and set a “buy” rating on the stock in a report on Tuesday, March 18th.

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.