Insider Selling: Energy Vault Holdings, Inc. (NYSE:NRGV) CEO Sells 40,277 Shares of Stock

Energy Vault Holdings, Inc. (NYSE:NRGV) CEO Robert Piconi sold 40,277 shares of the company’s stock in a transaction on Friday, May 16th. The stock was sold at an average price of $0.94, for a total transaction of $37,860.38. Following the completion of the sale, the chief executive officer now owns 20,053,987 shares of the company’s stock, valued at approximately $18,850,747.78. The trade was a 0.20% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

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

• On Friday, April 4th, Robert Piconi sold 16,594 shares of Energy Vault stock. The stock was sold at an average price of $0.71, for a total transaction of $11,781.74.

Energy Vault Stock Performance

Shares of NYSE:NRGV opened at $0.90 on Monday. The company’s 50-day moving average is $0.81 and its 200 day moving average is $1.44. The company has a market capitalization of $138.82 million, a P/E ratio of -1.38 and a beta of 0.72. Energy Vault Holdings, Inc. has a fifty-two week low of $0.60 and a fifty-two week high of $2.70.

Energy Vault (NYSE:NRGV) last issued its quarterly earnings results on Monday, May 12th. The company reported ($0.08) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.13) by $0.05. The company had revenue of $8.53 million for the quarter, compared to the consensus estimate of $25.04 million. Energy Vault had a negative net margin of 73.37% and a negative return on equity of 47.41%. As a group, research analysts predict that Energy Vault Holdings, Inc. will post -0.64 earnings per share for the current year.

Analyst Ratings Changes

Several analysts have recently issued reports on NRGV shares. The Goldman Sachs Group reduced their target price on shares of Energy Vault from $1.00 to $0.75 and set a “sell” rating for the company in a research note on Wednesday, March 19th. Roth Mkm reduced 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 note on Thursday, March 20th. Finally, TD Cowen reduced their target price on shares of Energy Vault from $2.50 to $2.00 and set a “buy” rating for the company in a research note on Tuesday, March 18th.

Hedge Funds Weigh In On Energy Vault

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Invesco Ltd. lifted its holdings in Energy Vault by 15,519.9% during the fourth quarter. Invesco Ltd. now owns 2,675,226 shares of the company’s stock valued at $6,100,000 after purchasing an additional 2,658,099 shares during the last quarter. CastleKnight Management LP purchased a new stake in Energy Vault during the fourth quarter valued at about $2,752,000. Millennium Management LLC lifted its holdings in Energy Vault by 122.5% during the fourth quarter. Millennium Management LLC now owns 1,442,399 shares of the company’s stock valued at $3,289,000 after purchasing an additional 794,253 shares during the last quarter. Private Capital Advisors Inc. lifted its holdings in Energy Vault by 766.1% during the first quarter. Private Capital Advisors Inc. now owns 487,260 shares of the company’s stock valued at $339,000 after purchasing an additional 431,000 shares during the last quarter. Finally, Nuveen LLC purchased a new stake in Energy Vault during the first quarter valued at about $190,000. 40.03% of the stock is owned by hedge funds and other institutional investors.

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.