PFG Investments LLC Buys New Shares in Energy Vault Holdings, Inc. (NYSE:NRGV)

PFG Investments LLC purchased a new position in shares of Energy Vault Holdings, Inc. (NYSE:NRGV) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 18,600 shares of the company’s stock, valued at approximately $42,000.

A number of other institutional investors have also modified their holdings of the stock. Geode Capital Management LLC increased its holdings in Energy Vault by 8.5% in the 3rd quarter. Geode Capital Management LLC now owns 2,273,042 shares of the company’s stock worth $2,182,000 after acquiring an additional 177,214 shares in the last quarter. State Street Corp grew its stake in shares of Energy Vault by 1.1% in the third quarter. State Street Corp now owns 1,850,702 shares of the company’s stock worth $1,777,000 after acquiring an additional 20,915 shares in the last quarter. Green Alpha Advisors LLC increased its position in shares of Energy Vault by 62.3% in the 3rd quarter. Green Alpha Advisors LLC now owns 158,171 shares of the company’s stock valued at $152,000 after purchasing an additional 60,725 shares during the last quarter. Barclays PLC raised 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 acquiring an additional 99,550 shares in the last quarter. Finally, Mesirow Financial Investment Management Inc. lifted its position in shares of Energy Vault by 31.3% during the 3rd quarter. Mesirow Financial Investment Management Inc. now owns 105,000 shares of the company’s stock worth $101,000 after buying an additional 25,000 shares during the last quarter. Hedge funds and other institutional investors own 40.03% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, TD Cowen restated a “buy” rating and set a $2.50 price target on shares of Energy Vault in a research note on Wednesday, November 13th. Two equities 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 a consensus price target of $1.95.

Insiders Place Their Bets

In related news, CEO Robert Piconi purchased 150,000 shares of the business’s stock in a transaction that occurred on Friday, November 22nd. The shares were acquired at an average price of $1.57 per share, with a total value of $235,500.00. Following the acquisition, the chief executive officer now owns 17,623,361 shares in the company, valued at approximately $27,668,676.77. This trade represents a 0.86 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 19.80% of the stock is owned by company insiders.

Energy Vault Price Performance

Energy Vault stock opened at $1.74 on Friday. The company has a market cap of $263.93 million, a price-to-earnings ratio of -2.67 and a beta of 0.44. Energy Vault Holdings, Inc. has a 12 month low of $0.78 and a 12 month high of $2.70. The stock’s 50-day moving average is $1.95 and its 200-day moving average is $1.47.

Energy Vault (NYSE:NRGV) last posted its quarterly earnings data on Tuesday, November 12th. The company reported ($0.18) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.15) by ($0.03). The firm had revenue of $1.20 million for the quarter, compared to analysts’ expectations of $4.80 million. Energy Vault had a negative net margin of 73.37% and a negative return on equity of 47.41%. During the same quarter in the prior year, the business earned ($0.13) EPS. Research analysts anticipate that Energy Vault Holdings, Inc. will post -0.64 EPS for the current year.

About Energy Vault

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.