Insider Buying: Energy Vault Holdings, Inc. (NYSE:NRGV) CEO Buys $235,500.00 in Stock

Energy Vault Holdings, Inc. (NYSE:NRGV) CEO Robert Piconi purchased 150,000 shares of the firm’s stock in a transaction that occurred on Friday, November 22nd. The shares were bought at an average price of $1.57 per share, for a total transaction of $235,500.00. Following the acquisition, the chief executive officer now directly owns 17,623,361 shares in the company, valued at $27,668,676.77. This trade represents a 0.86 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at this link.

Energy Vault Trading Up 4.7 %

NYSE NRGV opened at $1.90 on Thursday. Energy Vault Holdings, Inc. has a 12 month low of $0.78 and a 12 month high of $2.68. The company’s 50-day moving average price is $1.44 and its 200-day moving average price is $1.19. The stock has a market cap of $288.27 million, a PE ratio of -2.92 and a beta of 0.45.

Energy Vault (NYSE:NRGV) last issued its earnings results on Tuesday, November 12th. The company reported ($0.18) EPS for the quarter, missing analysts’ consensus estimates of ($0.15) by ($0.03). The company had revenue of $1.20 million for the quarter, compared to analysts’ expectations 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 last year, the business posted ($0.13) earnings per share. As a group, sell-side analysts forecast that Energy Vault Holdings, Inc. will post -0.64 earnings per share for the current year.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on NRGV shares. TD Cowen reissued a “buy” rating and issued a $2.50 target price on shares of Energy Vault in a research note on Wednesday, November 13th. Roth Mkm reduced their price objective 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. Two analysts have rated the stock with a sell rating and four have assigned a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and an average price target of $1.95.

Institutional Investors Weigh In On Energy Vault

Several hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. increased its stake 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 valued at $2,999,000 after buying an additional 43,764 shares during the period. Jacobs Levy Equity Management Inc. purchased a new position in Energy Vault during the 1st quarter valued at about $91,000. Bank of New York Mellon Corp raised its holdings in shares of Energy Vault by 21.8% in the 2nd quarter. Bank of New York Mellon Corp now owns 341,909 shares of the company’s stock valued at $325,000 after purchasing 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% in the 2nd 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 during the period. Finally, XTX Topco Ltd boosted its stake in shares of Energy Vault by 684.0% during 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 in the last quarter. 40.03% of the stock is currently owned by hedge funds and other institutional investors.

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.