Energy Vault (NYSE:NRGV) CFO Sells $206,700.00 in Stock

Energy Vault Holdings, Inc. (NYSE:NRGV) CFO Michael Thomas Beer sold 65,000 shares of the business’s stock in a transaction on Monday, April 6th. The shares were sold at an average price of $3.18, for a total transaction of $206,700.00. Following the sale, the chief financial officer directly owned 1,060,945 shares in the company, valued at $3,373,805.10. This trade represents a 5.77% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.

Energy Vault Price Performance

Shares of NRGV opened at $3.27 on Friday. The firm has a market capitalization of $564.78 million, a PE ratio of -5.02 and a beta of 0.90. The company has a debt-to-equity ratio of 0.56, a current ratio of 0.73 and a quick ratio of 0.73. Energy Vault Holdings, Inc. has a 1-year low of $0.60 and a 1-year high of $6.35. The company’s fifty day moving average price is $3.45 and its 200-day moving average price is $3.90.

Energy Vault (NYSE:NRGV) last announced its quarterly earnings data on Tuesday, March 17th. The company reported ($0.13) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.07) by ($0.06). The company had revenue of $153.31 million for the quarter, compared to analysts’ expectations of $152.57 million. Energy Vault had a negative net margin of 50.87% and a negative return on equity of 106.69%. On average, equities research analysts predict that Energy Vault Holdings, Inc. will post -0.64 EPS for the current year.

Institutional Investors Weigh In On Energy Vault

Hedge funds have recently added to or reduced their stakes in the business. Mercer Global Advisors Inc. ADV purchased a new stake in Energy Vault in the third quarter valued at $36,000. XTX Topco Ltd purchased a new stake in Energy Vault in the second quarter valued at $39,000. Platform Technology Partners purchased a new stake in Energy Vault in the third quarter valued at $40,000. Banco BTG Pactual S.A. purchased a new stake in Energy Vault in the third quarter valued at $43,000. Finally, Kovack Advisors Inc. purchased a new stake in shares of Energy Vault during the 4th quarter worth about $49,000. 40.03% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

NRGV has been the topic of a number of research analyst reports. Fundamental Research set a $6.05 price objective on shares of Energy Vault and gave the company a “buy” rating in a report on Tuesday, March 24th. Zacks Research lowered shares of Energy Vault from a “hold” rating to a “strong sell” rating in a report on Tuesday, February 17th. The Goldman Sachs Group upped their price target on shares of Energy Vault from $1.75 to $2.00 and gave the company a “sell” rating in a report on Thursday, March 19th. Finally, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Energy Vault in a report on Friday, January 9th. One equities research analyst has rated the stock with a Buy rating and three have given a Sell rating to the company’s stock. According to MarketBeat, Energy Vault presently has a consensus rating of “Reduce” and an average target price of $4.03.

Energy Vault Company Profile

Energy Vault is a global energy storage technology company specializing in long-duration, gravity-based energy storage solutions. Founded in 2017 and headquartered in Lugano, Switzerland, the firm has developed a modular system that uses large composite blocks and a proprietary crane system to convert excess renewable energy into gravitational potential energy. When energy demand peaks, the system lowers the blocks to generate electricity through regenerative braking, offering a dispatchable, carbon-free alternative to traditional battery storage.

The company’s flagship product line, EVx, integrates advanced materials science, software-driven controls and artificial intelligence to optimize charge and discharge cycles.