State Street Corp Acquires 20,915 Shares of Energy Vault Holdings, Inc. (NYSE:NRGV)

State Street Corp raised its holdings in shares of Energy Vault Holdings, Inc. (NYSE:NRGV) by 1.1% during the 3rd quarter, HoldingsChannel reports. The fund owned 1,850,702 shares of the company’s stock after acquiring an additional 20,915 shares during the quarter. State Street Corp’s holdings in Energy Vault were worth $1,777,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently modified their holdings of the company. DRW Securities LLC bought a new stake in shares of Energy Vault during the 3rd quarter valued at $31,000. SG Americas Securities LLC boosted its holdings in shares of Energy Vault by 95.5% during the 3rd quarter. SG Americas Securities LLC now owns 35,601 shares of the company’s stock valued at $34,000 after purchasing an additional 17,388 shares during the last quarter. Mesirow Financial Investment Management Inc. grew its holdings in Energy Vault by 33.3% during the 2nd quarter. Mesirow Financial Investment Management Inc. now owns 80,000 shares of the company’s stock valued at $76,000 after buying an additional 20,000 shares in the last quarter. Green Alpha Advisors LLC increased its stake in Energy Vault by 62.3% in the 3rd quarter. Green Alpha Advisors LLC now owns 158,171 shares of the company’s stock worth $152,000 after acquiring an additional 60,725 shares during the last quarter. Finally, XTX Topco Ltd raised its holdings in shares of Energy Vault by 684.0% during the 2nd quarter. XTX Topco Ltd now owns 173,016 shares of the company’s stock worth $164,000 after acquiring an additional 150,948 shares in the last quarter. Institutional investors own 40.03% of the company’s stock.

Energy Vault Price Performance

Shares of Energy Vault stock opened at $2.28 on Thursday. The stock has a market cap of $346.83 million, a PE ratio of -3.51 and a beta of 0.49. The firm has a fifty day moving average price of $1.83 and a 200 day moving average price of $1.32. Energy Vault Holdings, Inc. has a 1 year low of $0.78 and a 1 year high of $2.55.

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

Analyst Ratings Changes

Separately, TD Cowen reiterated a “buy” rating and issued a $2.50 price target on shares of Energy Vault in a research report on Wednesday, November 13th. Two investment analysts have rated the stock with a sell rating and four have given a buy rating to the stock. According to MarketBeat, Energy Vault presently has a consensus rating of “Hold” and a consensus target price of $1.95.

Insider Buying and Selling

In related news, CEO Robert Piconi acquired 150,000 shares of Energy Vault stock in a transaction that occurred on Friday, November 22nd. The shares were purchased at an average price of $1.57 per share, for a total transaction of $235,500.00. Following the completion of the transaction, the chief executive officer now owns 17,623,361 shares in the company, valued at $27,668,676.77. This represents a 0.86 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders own 19.80% of the company’s stock.

Energy Vault 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.