Robert Piconi Sells 16,594 Shares of Energy Vault Holdings, Inc. (NYSE:NRGV) Stock

Energy Vault Holdings, Inc. (NYSE:NRGV) CEO Robert Piconi sold 16,594 shares of the stock in a transaction on Friday, April 4th. The stock was sold at an average price of $0.71, for a total transaction of $11,781.74. Following the completion of the sale, the chief executive officer now directly owns 20,094,264 shares of the company’s stock, valued at approximately $14,266,927.44. This trade represents a 0.08 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

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

• On Friday, February 7th, Robert Piconi sold 2,806 shares of Energy Vault stock. The stock was sold at an average price of $1.64, for a total transaction of $4,601.84.

Energy Vault Stock Down 13.0 %

NRGV traded down $0.10 on Tuesday, hitting $0.67. The company had a trading volume of 1,135,207 shares, compared to its average volume of 1,102,462. The business’s fifty day simple moving average is $1.28 and its 200 day simple moving average is $1.56. Energy Vault Holdings, Inc. has a 12-month low of $0.63 and a 12-month high of $2.70. 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 released its earnings results 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 for the quarter, compared to the consensus estimate of $42.51 million. Energy Vault had a negative net margin of 73.37% and a negative return on equity of 47.41%. On average, analysts anticipate that Energy Vault Holdings, Inc. will post -0.64 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Energy Vault

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

Wall Street Analysts Forecast Growth

NRGV has been the topic of several research analyst reports. Roth Mkm lowered their price objective on Energy Vault from $2.50 to $1.50 and set a “buy” rating on the stock in a research report on Thursday, March 20th. TD Cowen lowered their price target on Energy Vault from $2.50 to $2.00 and set a “buy” rating on the stock in a report on Tuesday, March 18th. Finally, The Goldman Sachs Group cut 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. Two analysts have rated the stock with a sell rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $1.60.

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.