Insider Selling: Energy Vault Holdings, Inc. (NYSE:NRGV) Insider Sells 10,253 Shares of Stock

Energy Vault Holdings, Inc. (NYSE:NRGV - Get Free Report) insider Akshay Ladwa sold 10,253 shares of Energy Vault stock in a transaction dated Friday, February 7th. The stock was sold at an average price of $1.64, for a total value of $16,814.92. Following the completion of the transaction, the insider now directly owns 1,447,349 shares in the company, valued at $2,373,652.36. This represents a 0.70 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this hyperlink.

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

• On Friday, January 10th, Akshay Ladwa sold 4,762 shares of Energy Vault stock. The shares were sold at an average price of $1.96, for a total transaction of $9,333.52.

Energy Vault Stock Performance

Energy Vault stock traded down $0.02 during trading hours on Friday, hitting $1.63. 632,735 shares of the stock were exchanged, compared to its average volume of 1,029,212. The stock has a market capitalization of $247.20 million, a P/E ratio of -2.50 and a beta of 0.40. Energy Vault Holdings, Inc. has a 12 month low of $0.78 and a 12 month high of $2.70. The business's 50-day moving average is $1.92 and its two-hundred day moving average is $1.51.

Energy Vault (NYSE:NRGV - Get Free Report) last released its quarterly earnings results on Tuesday, November 12th. The company reported ($0.18) EPS for the quarter, missing the consensus estimate of ($0.15) by ($0.03). Energy Vault had a negative net margin of 73.37% and a negative return on equity of 47.41%. The company had revenue of $1.20 million for the quarter, compared to the consensus estimate of $4.80 million. During the same period last year, the company earned ($0.13) earnings per share. On average, equities analysts predict that Energy Vault Holdings, Inc. will post -0.64 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Separately, TD Cowen reiterated a "buy" rating and set a $2.50 price target on shares of Energy Vault in a research note on Wednesday, November 13th. Two research analysts have rated the stock with a sell rating and three have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average price target of $1.95.

Institutional Trading of Energy Vault

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in NRGV. Northern Trust Corp raised its position in shares of Energy Vault by 4.2% during the 4th quarter. Northern Trust Corp now owns 822,529 shares of the company's stock valued at $1,875,000 after acquiring an additional 33,039 shares during the last quarter. The Manufacturers Life Insurance Company acquired a new stake in shares of Energy Vault in the 4th quarter valued at approximately $90,000. Two Sigma Securities LLC grew its holdings in Energy Vault by 81.0% during the fourth quarter. Two Sigma Securities LLC now owns 22,303 shares of the company's stock valued at $51,000 after purchasing an additional 9,982 shares during the period. Price T Rowe Associates Inc. MD increased its stake in Energy Vault by 55.2% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 148,738 shares of the company's stock valued at $340,000 after purchasing an additional 52,880 shares in the last quarter. Finally, MetLife Investment Management LLC acquired a new stake in Energy Vault in the fourth quarter worth $86,000. 40.03% of the stock is currently owned by institutional investors and hedge funds.

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.