Michael Thomas Beer Sells 50,000 Shares of Energy Vault (NYSE:NRGV) Stock

Energy Vault Holdings, Inc. (NYSE:NRGV) CFO Michael Thomas Beer sold 50,000 shares of the company’s stock in a transaction on Tuesday, December 23rd. The stock was sold at an average price of $4.91, for a total value of $245,500.00. Following the sale, the chief financial officer owned 1,150,522 shares of the company’s stock, valued at $5,649,063.02. This trade represents a 4.16% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this hyperlink.

Energy Vault Price Performance

Shares of NYSE NRGV opened at $5.03 on Thursday. The company has a market capitalization of $843.98 million, a PE ratio of -5.29 and a beta of 0.95. The company has a quick ratio of 0.59, a current ratio of 0.63 and a debt-to-equity ratio of 0.39. The stock’s 50 day moving average price is $3.79 and its 200-day moving average price is $2.44. Energy Vault Holdings, Inc. has a twelve month low of $0.60 and a twelve month high of $5.56.

Energy Vault (NYSE:NRGV) last posted its quarterly earnings results on Monday, November 10th. The company reported ($0.16) earnings per share for the quarter, missing the consensus estimate of ($0.10) by ($0.06). The company had revenue of $33.32 million for the quarter, compared to the consensus estimate of $48.99 million. Energy Vault had a negative net margin of 172.61% and a negative return on equity of 119.98%. On average, equities analysts anticipate that Energy Vault Holdings, Inc. will post -0.64 EPS for the current year.

Hedge Funds Weigh In On Energy Vault

Large investors have recently modified their holdings of the company. Millennium Management LLC boosted its stake in Energy Vault by 141.2% in the third quarter. Millennium Management LLC now owns 5,858,734 shares of the company’s stock worth $17,400,000 after buying an additional 3,430,094 shares in the last quarter. Vanguard Group Inc. boosted its stake in shares of Energy Vault by 20.4% in the 3rd quarter. Vanguard Group Inc. now owns 1,823,443 shares of the company’s stock valued at $5,416,000 after purchasing an additional 308,509 shares in the last quarter. Jane Street Group LLC grew its holdings in shares of Energy Vault by 579.7% during the 2nd quarter. Jane Street Group LLC now owns 945,705 shares of the company’s stock valued at $678,000 after purchasing an additional 806,576 shares during the last quarter. Private Capital Advisors Inc. raised its position in Energy Vault by 41.0% in the 2nd quarter. Private Capital Advisors Inc. now owns 687,260 shares of the company’s stock worth $493,000 after purchasing an additional 200,000 shares during the period. Finally, Goldman Sachs Group Inc. lifted its stake in Energy Vault by 4.2% in the first quarter. Goldman Sachs Group Inc. now owns 398,476 shares of the company’s stock worth $277,000 after purchasing an additional 16,101 shares during the last quarter. 40.03% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on NRGV shares. Weiss Ratings restated a “sell (e+)” rating on shares of Energy Vault in a research report on Tuesday, October 14th. Zacks Research cut Energy Vault from a “hold” rating to a “strong sell” rating in a research report on Wednesday, October 15th. Fundamental Research set a $5.19 price target on Energy Vault and gave the company a “buy” rating in a report on Tuesday, November 18th. Finally, The Goldman Sachs Group boosted their price objective on Energy Vault from $1.50 to $2.00 and gave the stock a “sell” rating in a report on Wednesday, November 12th. Three equities research analysts have rated the stock with a Buy rating and three have assigned a Sell rating to the stock. Based on data from MarketBeat.com, Energy Vault has an average rating of “Hold” and a consensus price target of $2.67.

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.