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

Energy Vault Holdings, Inc. (NYSE:NRGV) CEO Robert Piconi bought 150,000 shares of the business’s stock in a transaction dated Friday, November 22nd. The shares were acquired at an average cost of $1.57 per share, with a total value of $235,500.00. Following the completion of the purchase, the chief executive officer now owns 17,623,361 shares in the company, valued at approximately $27,668,676.77. This represents a 0.86 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink.

Energy Vault Stock Performance

NYSE NRGV traded up $0.21 during mid-day trading on Monday, reaching $1.80. 1,299,243 shares of the stock were exchanged, compared to its average volume of 848,687. The business’s fifty day simple moving average is $1.40 and its 200 day simple moving average is $1.18. The stock has a market capitalization of $273.82 million, a PE ratio of -2.79 and a beta of 0.45. Energy Vault Holdings, Inc. has a 1-year low of $0.78 and a 1-year high of $2.68.

Energy Vault (NYSE:NRGV) last released its earnings results 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). The company had revenue of $1.20 million during the quarter, compared to analyst estimates of $4.80 million. Energy Vault had a negative return on equity of 47.41% and a negative net margin of 73.37%. During the same period in the prior year, the business posted ($0.13) earnings per share. On average, analysts anticipate that Energy Vault Holdings, Inc. will post -0.64 EPS for the current year.

Institutional Investors Weigh In On Energy Vault

Several large investors have recently made changes to their positions in the business. Vanguard Group Inc. increased its holdings in Energy Vault by 2.7% in the 1st quarter. Vanguard Group Inc. now owns 1,675,361 shares of the company’s stock valued at $2,999,000 after purchasing an additional 43,764 shares in the last quarter. Jacobs Levy Equity Management Inc. purchased a new position in Energy Vault in the 1st quarter worth approximately $91,000. Bank of New York Mellon Corp grew its position in 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 valued at $325,000 after acquiring an additional 61,135 shares in the last quarter. Mesirow Financial Investment Management Inc. lifted its position in shares of Energy Vault by 33.3% during the second quarter. Mesirow Financial Investment Management Inc. now owns 80,000 shares of the company’s stock worth $76,000 after purchasing an additional 20,000 shares in the last quarter. Finally, XTX Topco Ltd boosted its stake in shares of Energy Vault by 684.0% in the second quarter. XTX Topco Ltd now owns 173,016 shares of the company’s stock valued at $164,000 after purchasing an additional 150,948 shares during the period. Institutional investors and hedge funds own 40.03% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have commented on the stock. Roth Mkm decreased their target price on shares of Energy Vault from $2.50 to $2.00 and set a “buy” rating on the stock in a research report on Thursday, August 8th. TD Cowen restated a “buy” rating and issued a $2.50 price target on shares of Energy Vault in a 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 stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $1.95.

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.