Marco Terruzzin Sells 22,222 Shares of Energy Vault Holdings, Inc. (NYSE:NRGV) Stock

Energy Vault Holdings, Inc. (NYSE:NRGV) insider Marco Terruzzin sold 22,222 shares of the business’s stock in a transaction on Tuesday, October 1st. The stock was sold at an average price of $0.95, for a total value of $21,110.90. Following the sale, the insider now owns 1,593,888 shares in the company, valued at approximately $1,514,193.60. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

Energy Vault Stock Down 0.6 %

NRGV traded down $0.01 during midday trading on Thursday, hitting $0.93. 443,132 shares of the company were exchanged, compared to its average volume of 729,260. The firm has a market capitalization of $138.24 million, a P/E ratio of -1.61 and a beta of 0.66. Energy Vault Holdings, Inc. has a 1-year low of $0.78 and a 1-year high of $3.22. The firm’s 50 day moving average price is $0.96 and its 200-day moving average price is $1.16.

Energy Vault (NYSE:NRGV) last announced its earnings results on Tuesday, August 6th. The company reported ($0.18) EPS for the quarter, missing the consensus estimate of ($0.11) by ($0.07). The company had revenue of $3.77 million for the quarter, compared to analyst estimates of $16.65 million. Energy Vault had a negative return on equity of 40.67% and a negative net margin of 29.29%. During the same period in the previous year, the firm posted ($0.18) earnings per share. On average, sell-side analysts predict that Energy Vault Holdings, Inc. will post -0.6 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Separately, Roth Mkm reduced their price objective on Energy Vault from $2.50 to $2.00 and set a “buy” rating on the stock in a research report on Thursday, August 8th. Two equities research analysts have rated the stock with a sell rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $2.25.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in NRGV. XTX Topco Ltd lifted its stake in shares of Energy Vault by 684.0% in the 2nd quarter. XTX Topco Ltd now owns 173,016 shares of the company’s stock valued at $164,000 after purchasing an additional 150,948 shares during the period. CenterBook Partners LP acquired a new position in shares of Energy Vault in the 4th quarter valued at about $260,000. Bank of New York Mellon Corp lifted its stake in shares of Energy Vault by 21.8% in the 2nd quarter. Bank of New York Mellon Corp now owns 341,909 shares of the company’s stock valued at $325,000 after purchasing an additional 61,135 shares during the period. Mesirow Financial Investment Management Inc. acquired a new position in shares of Energy Vault in the 1st quarter valued at about $107,000. Finally, Jacobs Levy Equity Management Inc. acquired a new position in shares of Energy Vault in the 1st quarter valued at about $91,000. 40.03% of the stock is owned by institutional investors and hedge funds.

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.