Energy Vault Holdings, Inc. (NYSE:NRGV) Insider Akshay Ladwa Sells 26,698 Shares

Energy Vault Holdings, Inc. (NYSE:NRGV) insider Akshay Ladwa sold 26,698 shares of Energy Vault stock in a transaction 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 directly owns 2,270,651 shares of the company’s stock, valued at approximately $1,612,162.21. The trade was a 1.16 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink.

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

• On Friday, February 7th, Akshay Ladwa sold 10,253 shares of Energy Vault stock. The stock was sold at an average price of $1.64, for a total transaction of $16,814.92.
• 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 Trading Down 13.0 %

Shares of NYSE NRGV opened at $0.67 on Wednesday. Energy Vault Holdings, Inc. has a 1-year low of $0.63 and a 1-year high of $2.70. The company has a 50-day moving average of $1.24 and a two-hundred day moving average of $1.55. The company has a market cap of $101.77 million, a PE ratio of -1.03 and a beta of 0.73.

Energy Vault (NYSE:NRGV) last posted 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 company had revenue of $38.95 million during the quarter, compared to the consensus estimate of $42.51 million. Energy Vault had a negative return on equity of 47.41% and a negative net margin of 73.37%. As a group, equities research analysts forecast that Energy Vault Holdings, Inc. will post -0.64 earnings per share for the current year.

Hedge Funds Weigh In On Energy Vault

Several large investors have recently made changes to their positions in the company. State Street Corp raised its holdings in Energy Vault by 1.1% during the 3rd quarter. State Street Corp now owns 1,850,702 shares of the company’s stock worth $1,777,000 after purchasing an additional 20,915 shares during the last quarter. Barclays PLC grew its position in shares of Energy Vault by 225.2% during the 3rd quarter. Barclays PLC now owns 143,759 shares of the company’s stock worth $137,000 after buying an additional 99,550 shares during the period. Geode Capital Management LLC raised its stake in shares of Energy Vault by 8.5% during the third quarter. Geode Capital Management LLC now owns 2,273,042 shares of the company’s stock worth $2,182,000 after buying an additional 177,214 shares during the last quarter. SG Americas Securities LLC lifted its holdings in Energy Vault by 22.5% in the fourth quarter. SG Americas Securities LLC now owns 43,600 shares of the company’s stock valued at $99,000 after buying an additional 7,999 shares during the period. Finally, PFG Investments LLC bought a new position in Energy Vault in the fourth quarter valued at approximately $42,000. Institutional investors and hedge funds own 40.03% of the company’s stock.

Analysts Set New Price Targets

NRGV has been the subject of several recent analyst reports. Roth Mkm dropped their price objective on shares of Energy Vault from $2.50 to $1.50 and set a “buy” rating for the company in a report on Thursday, March 20th. TD Cowen dropped their price target on Energy Vault from $2.50 to $2.00 and set a “buy” rating for the company in a report on Tuesday, March 18th. Finally, The Goldman Sachs Group reduced their price objective on Energy Vault from $1.00 to $0.75 and set a “sell” rating on the stock in a research note on Wednesday, March 19th.

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.