BNP Paribas Financial Markets Invests $44,000 in Energy Vault Holdings, Inc. (NYSE:NRGV)

BNP Paribas Financial Markets bought a new position in Energy Vault Holdings, Inc. (NYSE:NRGV) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 19,298 shares of the company’s stock, valued at approximately $44,000.

Several other hedge funds have also recently modified their holdings of the stock. Northern Trust Corp lifted its holdings in shares of Energy Vault by 4.2% in the fourth quarter. Northern Trust Corp now owns 822,529 shares of the company’s stock worth $1,875,000 after buying an additional 33,039 shares in the last quarter. The Manufacturers Life Insurance Company purchased a new stake in Energy Vault during the fourth quarter valued at $90,000. Two Sigma Securities LLC raised its stake in Energy Vault by 81.0% during the fourth quarter. Two Sigma Securities LLC now owns 22,303 shares of the company’s stock valued at $51,000 after purchasing an additional 9,982 shares in the last quarter. Price T Rowe Associates Inc. MD raised its stake in Energy Vault by 55.2% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 148,738 shares of the company’s stock valued at $340,000 after purchasing an additional 52,880 shares in the last quarter. Finally, MetLife Investment Management LLC purchased a new stake in Energy Vault during the fourth quarter valued at $86,000. Hedge funds and other institutional investors own 40.03% of the company’s stock.

Energy Vault Trading Up 11.7%

Shares of NRGV opened at $0.92 on Wednesday. Energy Vault Holdings, Inc. has a twelve month low of $0.60 and a twelve month high of $2.70. The company has a market cap of $143.59 million, a P/E ratio of -1.42 and a beta of 0.72. The company’s fifty day simple moving average is $0.79 and its 200-day simple moving average is $1.37.

Energy Vault (NYSE:NRGV) last announced 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. Energy Vault had a negative net margin of 73.37% and a negative return on equity of 47.41%. The business had revenue of $8.53 million for the quarter, compared to the consensus estimate of $25.04 million. Analysts predict that Energy Vault Holdings, Inc. will post -0.64 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on NRGV. Wall Street Zen raised shares of Energy Vault from a “strong sell” rating to a “hold” rating in a research note on Thursday, May 22nd. 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. TD Cowen decreased their price target 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. Finally, Roth Mkm decreased their price target on shares of Energy Vault from $2.50 to $1.50 and set a “buy” rating on the stock in a research note on Thursday, March 20th.

Insider Activity

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