Insider Selling: Energy Vault Holdings, Inc. (NYSE:NRGV) Insider Sells 26,698 Shares of Stock

Energy Vault Holdings, Inc. (NYSE:NRGV - Get Free Report) insider Akshay Ladwa sold 26,698 shares of the stock in a transaction that occurred on Friday, April 4th. The shares were sold at an average price of $0.71, for a total value of $18,955.58. Following the transaction, the insider now owns 2,270,651 shares in the company, valued at approximately $1,612,162.21. This trade represents a 1.16 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

Akshay Ladwa also recently made the following trade(s):

• On Friday, February 7th, Akshay Ladwa sold 10,253 shares of Energy Vault stock. The shares were sold at an average price of $1.64, for a total value of $16,814.92.
• On Friday, January 10th, Akshay Ladwa sold 4,762 shares of Energy Vault stock. The stock was sold at an average price of $1.96, for a total value of $9,333.52.

Energy Vault Price Performance

Shares of NYSE:NRGV traded up $0.03 during trading on Friday, reaching $0.69. The stock had a trading volume of 1,402,770 shares, compared to its average volume of 1,103,641. The business's 50-day moving average price is $1.16 and its 200 day moving average price is $1.54. The stock has a market capitalization of $105.57 million, a PE ratio of -1.07 and a beta of 0.73. Energy Vault Holdings, Inc. has a 52 week low of $0.63 and a 52 week high of $2.70.

Energy Vault (NYSE:NRGV - Get Free Report) 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 business had revenue of $38.95 million during the quarter, compared to analyst estimates of $42.51 million. Energy Vault had a negative net margin of 73.37% and a negative return on equity of 47.41%. Analysts forecast that Energy Vault Holdings, Inc. will post -0.64 EPS for the current year.

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Institutional Investors Weigh In On Energy Vault

Several large investors have recently bought and sold shares of NRGV. Invesco Ltd. grew its holdings in shares of Energy Vault by 15,519.9% in the 4th quarter. Invesco Ltd. now owns 2,675,226 shares of the company's stock valued at $6,100,000 after buying an additional 2,658,099 shares during the period. CastleKnight Management LP acquired a new position in Energy Vault in the fourth quarter valued at about $2,752,000. Millennium Management LLC increased 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 acquiring an additional 794,253 shares in the last quarter. Charles Schwab Investment Management Inc. raised its position in shares of Energy Vault by 44.2% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 889,493 shares of the company's stock worth $2,028,000 after purchasing an additional 272,465 shares during the period. Finally, Marshall Wace LLP bought a new position in shares of Energy Vault during the 4th quarter valued at about $598,000. Institutional investors own 40.03% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on the stock. The Goldman Sachs Group lowered their price objective on shares of Energy Vault from $1.00 to $0.75 and set a "sell" rating on the stock in a research note on Wednesday, March 19th. TD Cowen decreased their target price on Energy Vault from $2.50 to $2.00 and set a "buy" rating on the stock in a research report on Tuesday, March 18th. Finally, Roth Mkm cut their price target on Energy Vault from $2.50 to $1.50 and set a "buy" rating for the company in a report on Thursday, March 20th.

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.