J. Goldman & Co LP Makes New Investment in Energy Vault Holdings, Inc. $NRGV

J. Goldman & Co LP purchased a new stake in shares of Energy Vault Holdings, Inc. (NYSE:NRGV) in the second quarter, according to its most recent 13F filing with the SEC. The fund purchased 1,504,234 shares of the company’s stock, valued at approximately $7,085,000. J. Goldman & Co LP owned approximately 0.84% of Energy Vault at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in the company. Forte Asset Management LLC purchased a new position in Energy Vault in the first quarter worth $33,000. Calamos Advisors LLC purchased a new position in Energy Vault in the first quarter worth $48,000. Quantbot Technologies LP purchased a new position in Energy Vault in the second quarter worth $50,000. Miller Howard Investments Inc. NY purchased a new position in Energy Vault in the first quarter worth $51,000. Finally, Hsbc Holdings PLC purchased a new position in Energy Vault in the second quarter worth $57,000. 40.03% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Energy Vault news, Director Stephanie Unwin sold 115,000 shares of Energy Vault stock in a transaction on Wednesday, August 26th. The shares were sold at an average price of $3.71, for a total value of $426,650.00. Following the sale, the director directly owned 182,245 shares in the company, valued at approximately $676,128.95. The trade was a 38.69% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Dylan Hixon purchased 27,472 shares of Energy Vault stock in a transaction on Monday, August 17th. The stock was bought at an average price of $3.88 per share, for a total transaction of $106,591.36. Following the completion of the acquisition, the director owned 27,472 shares in the company, valued at $106,591.36. The trade was a ∞ increase in their position. The SEC filing for this purchase provides additional information. Insiders own 17.20% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have issued reports on NRGV shares. Cantor Fitzgerald restated an “overweight” rating and set a $7.00 price target on shares of Energy Vault in a research report on Wednesday, August 12th. Wall Street Zen lowered shares of Energy Vault from a “sell” rating to a “strong sell” rating in a research report on Saturday, August 15th. Zacks Research raised shares of Energy Vault from a “strong sell” rating to a “hold” rating in a research note on Monday, July 6th. Weiss Ratings downgraded shares of Energy Vault from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Wednesday, August 12th. Finally, Fundamental Research set a $8.03 price objective on shares of Energy Vault and gave the company a “buy” rating in a research note on Tuesday, August 18th. Four investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, Energy Vault has an average rating of “Hold” and a consensus target price of $6.01.

Energy Vault Price Performance

NYSE NRGV traded down $0.17 on Monday, reaching $3.78. The company had a trading volume of 684,267 shares, compared to its average volume of 4,493,698. The company has a quick ratio of 1.19, a current ratio of 1.19 and a debt-to-equity ratio of 24.07. The stock has a market capitalization of $686.45 million, a PE ratio of -5.73 and a beta of 1.25. The firm’s 50 day moving average price is $3.76 and its 200 day moving average price is $4.02. Energy Vault Holdings, Inc. has a 12 month low of $2.50 and a 12 month high of $6.64.

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

Energy Vault 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.