Geode Capital Management LLC Acquires 177,214 Shares of Energy Vault Holdings, Inc. (NYSE:NRGV)

Geode Capital Management LLC increased its holdings in shares of Energy Vault Holdings, Inc. (NYSE:NRGV) by 8.5% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,273,042 shares of the company’s stock after purchasing an additional 177,214 shares during the period. Geode Capital Management LLC owned approximately 1.51% of Energy Vault worth $2,182,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of NRGV. XTX Topco Ltd lifted its holdings in shares of Energy Vault by 684.0% during the 2nd quarter. XTX Topco Ltd now owns 173,016 shares of the company’s stock valued at $164,000 after purchasing an additional 150,948 shares in the last quarter. Barclays PLC lifted its holdings in shares of Energy Vault by 225.2% during the 3rd quarter. Barclays PLC now owns 143,759 shares of the company’s stock valued at $137,000 after purchasing an additional 99,550 shares in the last quarter. Bank of New York Mellon Corp lifted its holdings in shares of Energy Vault by 21.8% during the 2nd quarter. Bank of New York Mellon Corp now owns 341,909 shares of the company’s stock valued at $325,000 after purchasing an additional 61,135 shares in the last quarter. Green Alpha Advisors LLC lifted its holdings in shares of Energy Vault by 62.3% during the 3rd quarter. Green Alpha Advisors LLC now owns 158,171 shares of the company’s stock valued at $152,000 after purchasing an additional 60,725 shares in the last quarter. Finally, DRW Securities LLC bought a new position in shares of Energy Vault during the 3rd quarter valued at about $31,000. Institutional investors own 40.03% of the company’s stock.

Analyst Ratings Changes

Separately, TD Cowen reiterated a “buy” rating and set a $2.50 price objective on shares of Energy Vault in a report on Wednesday, November 13th. Two analysts have rated the stock with a sell rating and four have issued a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $1.95.

Energy Vault Stock Performance

NYSE NRGV opened at $2.46 on Wednesday. The stock has a market capitalization of $374.22 million, a price-to-earnings ratio of -3.78 and a beta of 0.44. The stock’s 50 day moving average price is $1.90 and its two-hundred day moving average price is $1.36. Energy Vault Holdings, Inc. has a 52 week low of $0.78 and a 52 week high of $2.70.

Energy Vault (NYSE:NRGV) last released its earnings results on Tuesday, November 12th. The company reported ($0.18) EPS for the quarter, missing the consensus estimate of ($0.15) by ($0.03). The firm had revenue of $1.20 million during the quarter, compared to the consensus estimate of $4.80 million. Energy Vault had a negative net margin of 73.37% and a negative return on equity of 47.41%. During the same quarter in the previous year, the firm posted ($0.13) EPS. On average, equities research analysts forecast that Energy Vault Holdings, Inc. will post -0.64 EPS for the current year.

Insider Transactions at Energy Vault

In other news, CEO Robert Piconi acquired 150,000 shares of the stock in a transaction dated Friday, November 22nd. The shares were bought at an average cost of $1.57 per share, for a total transaction of $235,500.00. Following the purchase, the chief executive officer now directly owns 17,623,361 shares of the company’s stock, valued at approximately $27,668,676.77. This trade represents a 0.86 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 19.80% of the company’s stock.

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.