Bleakley Financial Group LLC Takes Position in Energy Vault Holdings, Inc. (NYSE:NRGV)

Bleakley Financial Group LLC purchased a new position in Energy Vault Holdings, Inc. (NYSE:NRGV) during the fourth quarter, HoldingsChannel.com reports. The fund purchased 14,042 shares of the company’s stock, valued at approximately $33,000.

A number of other large investors have also added to or reduced their stakes in the company. Penserra Capital Management LLC purchased a new position in Energy Vault during the 1st quarter valued at about $57,000. Covington Capital Management purchased a new position in Energy Vault during the 3rd quarter valued at about $35,000. DekaBank Deutsche Girozentrale purchased a new position in Energy Vault during the 3rd quarter valued at about $25,000. HighTower Advisors LLC purchased a new position in Energy Vault during the 4th quarter valued at about $31,000. Finally, Mariner LLC purchased a new position in Energy Vault during the 4th quarter valued at about $33,000. Institutional investors own 40.03% of the company’s stock.

Energy Vault Stock Up 1.7 %

Shares of NRGV stock opened at $1.18 on Wednesday. The company has a 50 day moving average price of $1.69 and a 200-day moving average price of $1.99. Energy Vault Holdings, Inc. has a 52 week low of $1.10 and a 52 week high of $3.55. The firm has a market capitalization of $173.55 million, a PE ratio of -1.74 and a beta of 0.58.

Energy Vault (NYSE:NRGV) last announced its quarterly earnings results on Tuesday, March 12th. The company reported ($0.15) EPS for the quarter, missing analysts’ consensus estimates of ($0.10) by ($0.05). Energy Vault had a negative return on equity of 40.42% and a negative net margin of 28.82%. The company had revenue of $118.24 million during the quarter, compared to the consensus estimate of $122.05 million. Analysts anticipate that Energy Vault Holdings, Inc. will post -0.34 earnings per share for the current year.

Wall Street Analysts Forecast Growth

NRGV has been the subject of several recent analyst reports. The Goldman Sachs Group decreased their target price on shares of Energy Vault from $1.70 to $1.50 and set a “sell” rating for the company in a report on Friday, March 22nd. TD Cowen decreased their target price on shares of Energy Vault from $6.00 to $5.00 and set an “outperform” rating for the company in a report on Wednesday, March 13th. Roth Mkm initiated coverage on shares of Energy Vault in a report on Tuesday, January 16th. They issued a “buy” rating and a $4.00 target price for the company. Roth Capital reaffirmed a “buy” rating on shares of Energy Vault in a report on Tuesday, January 16th. Finally, Chardan Capital reaffirmed a “sell” rating and issued a $0.75 target price (down from $7.00) on shares of Energy Vault in a report on Monday, April 8th. Two analysts have rated the stock with a sell rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat, Energy Vault presently has an average rating of “Hold” and a consensus price target of $2.81.

Insider Transactions at Energy Vault

In related news, CMO Laurence Alexander sold 20,385 shares of the business’s stock in a transaction that occurred on Tuesday, March 19th. The shares were sold at an average price of $1.64, for a total transaction of $33,431.40. Following the completion of the sale, the chief marketing officer now directly owns 897,123 shares in the company, valued at $1,471,281.72. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders sold 73,175 shares of company stock worth $119,282 over the last three months. 20.00% of the stock is currently owned by company insiders.

Energy Vault 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.