Vanguard Group Inc. Has $3 Million Stock Holdings in Energy Vault Holdings, Inc. (NYSE:NRGV)

Vanguard Group Inc. boosted its stake in shares of Energy Vault Holdings, Inc. (NYSE:NRGV) by 2.7% during the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 1,675,361 shares of the company’s stock after buying an additional 43,764 shares during the period. Vanguard Group Inc.’s holdings in Energy Vault were worth $2,999,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Sapient Capital LLC bought a new position in Energy Vault during the 4th quarter worth about $498,000. CenterBook Partners LP bought a new position in Energy Vault during the 4th quarter worth about $260,000. Mesirow Financial Investment Management Inc. bought a new position in Energy Vault during the 1st quarter worth about $107,000. Mirae Asset Global Investments Co. Ltd. increased its holdings in Energy Vault by 17.4% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 242,541 shares of the company’s stock worth $434,000 after purchasing an additional 35,935 shares in the last quarter. Finally, Simplicity Solutions LLC bought a new stake in Energy Vault during the 4th quarter worth about $33,000. 40.03% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, CMO Laurence Alexander sold 22,316 shares of the stock in a transaction dated Friday, June 7th. The shares were sold at an average price of $1.16, for a total value of $25,886.56. Following the transaction, the chief marketing officer now directly owns 1,219,657 shares of the company’s stock, valued at $1,414,802.12. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders sold a total of 63,804 shares of company stock valued at $73,319 over the last ninety days. 19.80% of the stock is currently owned by company insiders.

Energy Vault Stock Performance

Shares of NYSE:NRGV opened at $0.98 on Monday. The company has a 50-day simple moving average of $1.05 and a 200 day simple moving average of $1.33. The company has a market capitalization of $145.23 million, a P/E ratio of -1.63 and a beta of 0.65. Energy Vault Holdings, Inc. has a 52-week low of $0.78 and a 52-week high of $3.35.

Energy Vault (NYSE:NRGV) last issued its earnings results on Tuesday, August 6th. The company reported ($0.18) EPS for the quarter, missing the consensus estimate of ($0.11) by ($0.07). The business had revenue of $3.77 million for the quarter, compared to the consensus estimate of $16.65 million. Energy Vault had a negative return on equity of 38.36% and a negative net margin of 26.17%. During the same quarter in the prior year, the firm posted ($0.18) earnings per share. As a group, equities analysts forecast that Energy Vault Holdings, Inc. will post -0.5 earnings per share for the current year.

Wall Street Analyst Weigh In

NRGV has been the topic of a number of recent research reports. TD Cowen lowered their target price on Energy Vault from $5.00 to $4.00 and set a “buy” rating on the stock in a research report on Monday, May 13th. Stifel Nicolaus lowered their price target on Energy Vault from $6.00 to $3.00 and set a “buy” rating on the stock in a research report on Tuesday, April 30th. Finally, Roth Mkm dropped their price objective on Energy Vault from $2.50 to $2.00 and set a “buy” rating on the stock in a research note on Thursday, August 8th. Two analysts have rated the stock with a sell rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Energy Vault presently has an average rating of “Hold” and a consensus price target of $2.25.

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.