Energy Vault Holdings, Inc. (NYSE:NRGV) CEO Sells $11,781.74 in Stock

Energy Vault Holdings, Inc. (NYSE:NRGV) CEO Robert Piconi sold 16,594 shares of the business’s stock in a transaction dated Friday, April 4th. The stock was sold at an average price of $0.71, for a total transaction of $11,781.74. Following the transaction, the chief executive officer now owns 20,094,264 shares in the company, valued at approximately $14,266,927.44. This trade represents a 0.08 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

Robert Piconi also recently made the following trade(s):

• On Friday, February 7th, Robert Piconi sold 2,806 shares of Energy Vault stock. The stock was sold at an average price of $1.64, for a total transaction of $4,601.84.

Energy Vault Price Performance

NYSE:NRGV opened at $0.67 on Friday. The company has a market capitalization of $101.46 million, a P/E ratio of -1.03 and a beta of 0.73. The business has a fifty day simple moving average of $1.18 and a two-hundred day simple moving average of $1.54. Energy Vault Holdings, Inc. has a 1 year low of $0.63 and a 1 year high of $2.70.

Energy Vault (NYSE:NRGV) last announced its quarterly earnings data on Monday, March 17th. The company reported ($0.35) earnings per share 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 analysts’ expectations of $42.51 million. Energy Vault had a negative return on equity of 47.41% and a negative net margin of 73.37%. As a group, analysts anticipate that Energy Vault Holdings, Inc. will post -0.64 earnings per share for the current year.

Institutional Trading of Energy Vault

Several hedge funds and other institutional investors have recently modified their holdings of the business. Invesco Ltd. lifted its holdings in Energy Vault by 15,519.9% during the 4th quarter. Invesco Ltd. now owns 2,675,226 shares of the company’s stock worth $6,100,000 after purchasing an additional 2,658,099 shares in the last quarter. CastleKnight Management LP bought a new stake in shares of Energy Vault during the fourth quarter valued at about $2,752,000. Millennium Management LLC lifted its holdings in shares of Energy Vault by 122.5% in the fourth quarter. Millennium Management LLC now owns 1,442,399 shares of the company’s stock worth $3,289,000 after buying an additional 794,253 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its position 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 during the period. Finally, Marshall Wace LLP bought a new stake in Energy Vault during the 4th quarter worth approximately $598,000. Institutional investors own 40.03% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently commented on NRGV. 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 report on Wednesday, March 19th. TD Cowen lowered their target price on Energy Vault from $2.50 to $2.00 and set a “buy” rating on the stock in a research note on Tuesday, March 18th. Finally, Roth Mkm reduced their price target 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.

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.