Energy Vault Holdings, Inc. (NYSE:NRGV) Shares Purchased by SG Americas Securities LLC

SG Americas Securities LLC boosted its holdings in Energy Vault Holdings, Inc. (NYSE:NRGV) by 28.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 54,009 shares of the company’s stock after purchasing an additional 11,992 shares during the quarter. SG Americas Securities LLC’s holdings in Energy Vault were worth $126,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in the business. JPMorgan Chase & Co. bought a new stake in Energy Vault in the first quarter valued at $206,000. Penserra Capital Management LLC bought a new stake in Energy Vault in the first quarter valued at $57,000. Invesco Ltd. bought a new stake in Energy Vault in the first quarter valued at $21,416,000. Goldman Sachs Group Inc. bought a new stake in Energy Vault in the first quarter valued at $533,000. Finally, Neuberger Berman Group LLC bought a new stake in Energy Vault in the first quarter valued at $388,000. Institutional investors and hedge funds own 40.03% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on NRGV shares. Chardan Capital reiterated a “sell” rating and issued a $0.75 target price (down from $7.00) on shares of Energy Vault in a research note on Monday, April 8th. Roth Mkm assumed coverage on shares of Energy Vault in a research note on Tuesday, January 16th. They set a “buy” rating and a $4.00 price objective on the stock. The Goldman Sachs Group cut their price objective on shares of Energy Vault from $1.70 to $1.50 and set a “sell” rating on the stock in a research note on Friday, March 22nd. TD Cowen cut their price objective on shares of Energy Vault from $6.00 to $5.00 and set an “outperform” rating on the stock in a research note on Wednesday, March 13th. Finally, Roth Capital restated a “buy” rating on shares of Energy Vault in a research note on Tuesday, January 16th. Two analysts have rated the stock with a sell rating and three have issued a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $2.81.

Insider Buying and Selling

In related news, CMO Laurence Alexander sold 20,385 shares of Energy Vault stock in a transaction dated Tuesday, March 19th. The stock was sold at an average price of $1.64, for a total transaction of $33,431.40. Following the transaction, the chief marketing officer now directly owns 897,123 shares of the company’s stock, valued at $1,471,281.72. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Insiders have sold a total of 77,966 shares of company stock valued at $124,984 over the last three months. Company insiders own 20.00% of the company’s stock.

Energy Vault Stock Down 3.4 %

Shares of NYSE NRGV opened at $1.14 on Thursday. Energy Vault Holdings, Inc. has a fifty-two week low of $1.10 and a fifty-two week high of $3.55. The firm’s 50-day simple moving average is $1.68 and its 200 day simple moving average is $1.98. The stock has a market cap of $167.67 million, a P/E ratio of -1.68 and a beta of 0.58.

Energy Vault (NYSE:NRGV) last released its earnings results on Tuesday, March 12th. The company reported ($0.15) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.10) by ($0.05). The firm had revenue of $118.24 million for the quarter, compared to analyst estimates of $122.05 million. Energy Vault had a negative return on equity of 40.42% and a negative net margin of 28.82%. On average, sell-side analysts anticipate that Energy Vault Holdings, Inc. will post -0.34 earnings per share for the current fiscal 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.