Energy Vault (NYSE:NRGV) CFO Michael Thomas Beer Sells 65,000 Shares of Stock

Energy Vault Holdings, Inc. (NYSE:NRGV) CFO Michael Thomas Beer sold 65,000 shares of the business’s stock in a transaction dated Monday, July 6th. The stock was sold at an average price of $4.08, for a total value of $265,200.00. Following the sale, the chief financial officer owned 1,021,806 shares in the company, valued at $4,168,968.48. The trade was a 5.98% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink.

Energy Vault Trading Down 6.1%

NYSE NRGV opened at $3.56 on Thursday. The company has a current ratio of 1.44, a quick ratio of 1.44 and a debt-to-equity ratio of 4.94. The company has a fifty day simple moving average of $4.73 and a two-hundred day simple moving average of $4.32. Energy Vault Holdings, Inc. has a 12-month low of $0.75 and a 12-month high of $6.64. The stock has a market cap of $634.57 million, a P/E ratio of -5.01 and a beta of 1.17.

Energy Vault (NYSE:NRGV) last issued its earnings results on Tuesday, May 5th. The company reported ($0.20) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.15) by ($0.05). The firm had revenue of $21.88 million during the quarter, compared to analysts’ expectations of $20.72 million. Energy Vault had a negative return on equity of 171.09% and a negative net margin of 52.97%. On average, analysts forecast that Energy Vault Holdings, Inc. will post -0.61 earnings per share for the current year.

Hedge Funds Weigh In On Energy Vault

A number of hedge funds have recently modified their holdings of NRGV. Creative Planning boosted its stake in Energy Vault by 3.7% during the 3rd quarter. Creative Planning now owns 102,139 shares of the company’s stock worth $303,000 after purchasing an additional 3,690 shares during the period. Osaic Holdings Inc. raised its holdings in Energy Vault by 12.4% during the fourth quarter. Osaic Holdings Inc. now owns 44,547 shares of the company’s stock worth $205,000 after purchasing an additional 4,897 shares in the last quarter. Bank of Nova Scotia raised its holdings in Energy Vault by 19.9% during the first quarter. Bank of Nova Scotia now owns 41,600 shares of the company’s stock worth $137,000 after purchasing an additional 6,900 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its position in Energy Vault by 1.2% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 668,703 shares of the company’s stock valued at $3,083,000 after purchasing an additional 7,742 shares during the period. Finally, Mercer Global Advisors Inc. ADV boosted its holdings in Energy Vault by 70.0% in the 4th quarter. Mercer Global Advisors Inc. ADV now owns 20,808 shares of the company’s stock valued at $96,000 after purchasing an additional 8,570 shares in the last quarter. 40.03% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

NRGV has been the subject of several recent research reports. Cantor Fitzgerald initiated coverage on Energy Vault in a research report on Tuesday, May 5th. They set an “overweight” rating and a $7.00 price target for the company. Wall Street Zen lowered shares of Energy Vault from a “hold” rating to a “sell” rating in a research note on Saturday, May 23rd. Fundamental Research set a $6.05 price target on Energy Vault and gave the company a “buy” rating in a report on Tuesday, March 24th. Zacks Research raised shares of Energy Vault from a “strong sell” rating to a “hold” rating in a research note on Monday. Finally, Citigroup initiated coverage on shares of Energy Vault in a report on Thursday, June 11th. They set a “neutral” rating and a $5.25 target price on the stock. Two analysts have rated the stock with a Buy rating, two have issued a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat.com, Energy Vault has an average rating of “Hold” and a consensus target price of $5.08.

About Energy Vault

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.