Energy Vault (NYSE:NRGV) Director Stephanie Unwin Sells 115,000 Shares of Company Stock

Energy Vault Holdings, Inc. (NYSE:NRGV) Director Stephanie Unwin sold 115,000 shares of the firm’s stock in a transaction on Wednesday, August 26th. The stock was sold at an average price of $3.71, for a total value of $426,650.00. Following the transaction, the director directly owned 182,245 shares of the company’s stock, valued at approximately $676,128.95. This represents a 38.69% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

Energy Vault Trading Down 3.9%

NYSE:NRGV traded down $0.16 during trading hours on Monday, hitting $3.79. 684,267 shares of the company were exchanged, compared to its average volume of 4,493,698. The stock has a market capitalization of $688.26 million, a price-to-earnings ratio of -5.73 and a beta of 1.25. The company has a current ratio of 1.19, a quick ratio of 1.19 and a debt-to-equity ratio of 24.07. Energy Vault Holdings, Inc. has a one year low of $2.50 and a one year high of $6.64. The company has a fifty day simple moving average of $3.76 and a 200 day simple moving average of $4.02.

Energy Vault (NYSE:NRGV) last announced its earnings results on Tuesday, August 11th. The company reported ($0.17) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.14) by ($0.03). The company had revenue of $17.37 million for the quarter, compared to the consensus estimate of $14.24 million. Energy Vault had a negative return on equity of 236.83% and a negative net margin of 48.58%. Sell-side analysts expect that Energy Vault Holdings, Inc. will post -0.56 EPS for the current fiscal year.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the company. Weiss Ratings lowered Energy Vault from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Wednesday, August 12th. Cantor Fitzgerald reissued an “overweight” rating and issued a $7.00 price objective on shares of Energy Vault in a research report on Wednesday, August 12th. Citigroup lifted their price objective on Energy Vault from $5.00 to $6.00 and gave the stock a “buy” rating in a research report on Thursday, August 20th. Roth Capital reissued a “buy” rating and issued a $7.00 price objective (up from $5.00) on shares of Energy Vault in a research report on Wednesday, August 12th. Finally, Wall Street Zen lowered Energy Vault from a “sell” rating to a “strong sell” rating in a research report on Saturday, August 15th. Four investment analysts have rated the stock with a Buy rating, one has given a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $6.01.

Institutional Trading of Energy Vault

Several large investors have recently made changes to their positions in the company. BlackRock Inc. acquired a new stake in shares of Energy Vault in the 2nd quarter valued at about $52,657,000. Legal & General Group Plc acquired a new stake in shares of Energy Vault in the 2nd quarter valued at about $25,508,000. SailingStone Capital Partners LLC grew its stake in shares of Energy Vault by 0.5% in the 2nd quarter. SailingStone Capital Partners LLC now owns 4,469,075 shares of the company’s stock valued at $21,049,000 after buying an additional 24,058 shares during the period. UBS Group AG grew its stake in shares of Energy Vault by 940.1% in the 4th quarter. UBS Group AG now owns 1,541,087 shares of the company’s stock valued at $7,104,000 after buying an additional 1,392,923 shares during the period. Finally, J. Goldman & Co LP acquired a new stake in shares of Energy Vault in the 2nd quarter valued at about $7,085,000. 40.03% of the stock is currently owned by institutional investors and hedge funds.

Energy Vault Company Profile

Energy Vault Holdings, Inc (NYSE: NRGV) develops and deploys long-duration energy storage systems designed to help utilities, renewable energy developers and industrial customers store electricity and improve grid reliability. Its solutions are intended to complement intermittent renewable power sources such as wind and solar by storing energy when supply is abundant and releasing it when demand is higher.

The company’s portfolio includes gravity-based energy storage systems, which use mechanical structures and heavy materials to store and release energy, as well as battery energy storage solutions.