Charles Schwab Investment Management Inc. Buys 272,465 Shares of Energy Vault Holdings, Inc. (NYSE:NRGV)

Charles Schwab Investment Management Inc. grew its stake in shares of Energy Vault Holdings, Inc. (NYSE:NRGV) by 44.2% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 889,493 shares of the company’s stock after acquiring an additional 272,465 shares during the period. Charles Schwab Investment Management Inc.’s holdings in Energy Vault were worth $2,028,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Rhumbline Advisers increased its holdings in Energy Vault by 4.9% in the 4th quarter. Rhumbline Advisers now owns 146,881 shares of the company’s stock worth $335,000 after purchasing an additional 6,851 shares in the last quarter. Root Financial Partners LLC raised its holdings in Energy Vault by 35.0% in the 4th quarter. Root Financial Partners LLC now owns 30,404 shares of the company’s stock valued at $69,000 after buying an additional 7,876 shares during the last quarter. SG Americas Securities LLC boosted its position in Energy Vault by 22.5% during the 4th quarter. SG Americas Securities LLC now owns 43,600 shares of the company’s stock worth $99,000 after buying an additional 7,999 shares during the period. Truist Financial Corp bought a new stake in Energy Vault during the 4th quarter worth approximately $27,000. Finally, PFG Investments LLC bought a new position in shares of Energy Vault during the fourth quarter valued at $42,000. 40.03% of the stock is currently owned by institutional investors.

Energy Vault Trading Down 4.9 %

Shares of Energy Vault stock opened at $0.71 on Friday. The business has a 50-day moving average price of $1.43 and a two-hundred day moving average price of $1.55. Energy Vault Holdings, Inc. has a 1-year low of $0.70 and a 1-year high of $2.70. The company has a market cap of $107.24 million, a P/E ratio of -1.08 and a beta of 0.45.

Energy Vault (NYSE:NRGV) last issued its earnings results on Monday, March 17th. The company reported ($0.35) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.14) by ($0.21). The business had revenue of $38.95 million during the quarter, compared to the consensus estimate of $42.51 million. Energy Vault had a negative return on equity of 47.41% and a negative net margin of 73.37%. Equities research analysts forecast that Energy Vault Holdings, Inc. will post -0.64 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several analysts recently weighed in on the stock. TD Cowen reduced their price objective on shares of Energy Vault from $2.50 to $2.00 and set a “buy” rating on the stock in a research note on Tuesday, March 18th. Roth Mkm lowered their price objective on Energy Vault from $2.50 to $1.50 and set a “buy” rating for the company in a research report on Thursday, March 20th. Finally, The Goldman Sachs Group cut their price objective on Energy Vault from $1.00 to $0.75 and set a “sell” rating on the stock in a research note on Wednesday, March 19th. Two investment analysts have rated the stock with a sell rating and three have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $1.60.

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.