Energy Vault Holdings, Inc. (NYSE:NRGV) Shares Purchased by ProShare Advisors LLC

ProShare Advisors LLC boosted its position in shares of Energy Vault Holdings, Inc. (NYSE:NRGV) by 199.9% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 58,398 shares of the company’s stock after buying an additional 38,927 shares during the quarter. ProShare Advisors LLC’s holdings in Energy Vault were worth $133,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in NRGV. Virtu Financial LLC acquired a new stake in shares of Energy Vault during the 4th quarter valued at about $27,000. Truist Financial Corp acquired a new stake in Energy Vault in the fourth quarter valued at approximately $27,000. Atala Financial Inc purchased a new stake in shares of Energy Vault in the fourth quarter valued at approximately $31,000. BNP Paribas Financial Markets acquired a new position in shares of Energy Vault during the 4th quarter worth approximately $44,000. Finally, XTX Topco Ltd purchased a new position in shares of Energy Vault during the 4th quarter valued at approximately $46,000. Hedge funds and other institutional investors own 40.03% of the company’s stock.

Energy Vault Stock Performance

NYSE NRGV opened at $0.82 on Tuesday. The stock’s fifty day moving average is $0.79 and its two-hundred day moving average is $1.37. The firm has a market capitalization of $128.11 million, a P/E ratio of -1.26 and a beta of 0.72. Energy Vault Holdings, Inc. has a fifty-two week low of $0.60 and a fifty-two week high of $2.70.

Energy Vault (NYSE:NRGV) last posted its earnings results on Monday, May 12th. The company reported ($0.08) earnings per share for the quarter, beating the consensus estimate of ($0.13) by $0.05. The company had revenue of $8.53 million for the quarter, compared to analyst estimates of $25.04 million. Energy Vault had a negative net margin of 73.37% and a negative return on equity of 47.41%. As a group, sell-side analysts forecast that Energy Vault Holdings, Inc. will post -0.64 EPS for the current year.

Analyst Ratings Changes

A number of equities analysts have commented on NRGV shares. Wall Street Zen raised Energy Vault from a “strong sell” rating to a “hold” rating in a report on Thursday, May 22nd. TD Cowen lowered their target price on shares of Energy Vault from $2.50 to $2.00 and set a “buy” rating on the stock in a research note on Tuesday, March 18th. Roth Mkm dropped their target price on shares of Energy Vault from $2.50 to $1.50 and set a “buy” rating for the company in a report on Thursday, March 20th. Finally, The Goldman Sachs Group decreased their price target on shares of Energy Vault from $1.00 to $0.75 and set a “sell” rating on the stock in a research note on Wednesday, March 19th.

Insider Transactions at Energy Vault

In related news, CEO Robert Piconi sold 40,277 shares of the stock in a transaction that occurred on Friday, May 16th. The shares were sold at an average price of $0.94, for a total transaction of $37,860.38. Following the completion of the transaction, the chief executive officer now owns 20,053,987 shares of the company’s stock, valued at approximately $18,850,747.78. This trade represents a 0.20% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Akshay Ladwa sold 57,033 shares of Energy Vault stock in a transaction that occurred on Tuesday, April 29th. The shares were sold at an average price of $0.71, for a total transaction of $40,493.43. Following the completion of the sale, the insider now owns 2,213,618 shares of the company’s stock, valued at $1,571,668.78. This trade represents a 2.51% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 182,938 shares of company stock worth $139,150. 15.40% of the stock is currently owned by company insiders.

About Energy Vault

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.