Simplicity Solutions LLC Takes Position in Energy Vault Holdings, Inc. (NYSE:NRGV)

Simplicity Solutions LLC purchased a new stake in shares of Energy Vault Holdings, Inc. (NYSE:NRGV) during the fourth quarter, Holdings Channel reports. The fund purchased 14,042 shares of the company’s stock, valued at approximately $33,000.

A number of other hedge funds and other institutional investors have also modified their holdings of NRGV. JPMorgan Chase & Co. bought a new position in shares of Energy Vault during the 1st quarter valued at $206,000. Penserra Capital Management LLC bought a new position in Energy Vault in the 1st quarter worth $57,000. Invesco Ltd. bought a new position in Energy Vault in the 1st quarter worth $21,416,000. Goldman Sachs Group Inc. bought a new position in Energy Vault in the 1st quarter worth $533,000. Finally, Neuberger Berman Group LLC bought a new position in Energy Vault in the 1st quarter worth $388,000. Institutional investors own 40.03% of the company’s stock.

Energy Vault Price Performance

NYSE NRGV opened at $1.08 on Monday. The firm has a market capitalization of $158.85 million, a price-to-earnings ratio of -1.59 and a beta of 0.58. The company’s fifty day moving average is $1.66 and its two-hundred day moving average is $1.96. Energy Vault Holdings, Inc. has a 52-week low of $1.05 and a 52-week high of $3.55.

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

Insiders Place Their Bets

In other news, CMO Laurence Alexander sold 20,385 shares of Energy Vault stock in a transaction dated Tuesday, March 19th. The shares were sold at an average price of $1.64, for a total transaction of $33,431.40. Following the sale, the chief marketing officer now directly owns 897,123 shares in the company, valued at approximately $1,471,281.72. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders have sold 77,966 shares of company stock worth $124,984 in the last ninety days. Insiders own 20.00% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts recently commented on the stock. The Goldman Sachs Group dropped their target price on shares of Energy Vault from $1.70 to $1.50 and set a “sell” rating on the stock in a report on Friday, March 22nd. Roth Capital reiterated a “buy” rating on shares of Energy Vault in a report on Tuesday, January 16th. Roth Mkm assumed coverage on shares of Energy Vault in a report on Tuesday, January 16th. They issued a “buy” rating and a $4.00 target price on the stock. TD Cowen dropped their target price on shares of Energy Vault from $6.00 to $5.00 and set an “outperform” rating on the stock in a report on Wednesday, March 13th. Finally, Chardan Capital restated a “sell” rating and issued a $0.75 price target (down from $7.00) on shares of Energy Vault in a research report on Monday, April 8th. Two analysts have rated the stock with a sell rating and three have assigned a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $2.81.

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.