Covestor Ltd Takes $272,000 Position in Energy Vault Holdings, Inc. (NYSE:NRGV)

Covestor Ltd bought a new stake in shares of Energy Vault Holdings, Inc. (NYSE:NRGV) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 119,452 shares of the company’s stock, valued at approximately $272,000. Covestor Ltd owned 0.08% of Energy Vault at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Truist Financial Corp bought a new position in Energy Vault in the 4th quarter worth about $27,000. Barclays PLC increased its position in shares of Energy Vault by 225.2% in the third quarter. Barclays PLC now owns 143,759 shares of the company’s stock worth $137,000 after purchasing an additional 99,550 shares during the last quarter. State Street Corp raised its stake in 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 in the last quarter. Geode Capital Management LLC lifted its position in Energy Vault by 8.5% during 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 during the last quarter. Finally, Charles Schwab Investment Management Inc. increased its holdings in shares of Energy Vault by 44.2% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 889,493 shares of the company’s stock worth $2,028,000 after buying an additional 272,465 shares during the last quarter. 40.03% of the stock is currently owned by hedge funds and other institutional investors.

Energy Vault Stock Down 8.4 %

Shares of Energy Vault stock traded down $0.06 on Thursday, hitting $0.68. The stock had a trading volume of 276,021 shares, compared to its average volume of 1,101,684. The stock has a market cap of $102.70 million, a price-to-earnings ratio of -1.04 and a beta of 0.73. The stock’s 50-day simple moving average is $1.20 and its two-hundred day simple moving average is $1.54. Energy Vault Holdings, Inc. has a one year low of $0.63 and a one year high of $2.70.

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

Analysts Set New Price Targets

Several research analysts recently issued reports on NRGV shares. Roth Mkm cut their target price on shares of Energy Vault from $2.50 to $1.50 and set a “buy” rating for the company in a research report on Thursday, March 20th. The Goldman Sachs Group reduced their price objective 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 dropped their target price on Energy Vault from $2.50 to $2.00 and set a “buy” rating for the company in a research report on Tuesday, March 18th.

Energy Vault 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.