Deutsche Bank AG Raises Stock Position in Energy Vault Holdings, Inc. (NYSE:NRGV)

Deutsche Bank AG boosted its position in shares of Energy Vault Holdings, Inc. (NYSE:NRGV) by 69.2% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 57,197 shares of the company’s stock after purchasing an additional 23,386 shares during the period. Deutsche Bank AG’s holdings in Energy Vault were worth $130,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Virtu Financial LLC purchased a new position in Energy Vault during the fourth quarter worth about $27,000. Truist Financial Corp purchased a new position in Energy Vault during the fourth quarter worth about $27,000. Atala Financial Inc purchased a new position in Energy Vault during the fourth quarter worth about $31,000. BNP Paribas Financial Markets acquired a new stake in shares of Energy Vault during the fourth quarter valued at about $44,000. Finally, XTX Topco Ltd acquired a new stake in shares of Energy Vault during the fourth quarter valued at about $46,000. 40.03% of the stock is owned by hedge funds and other institutional investors.

Energy Vault Price Performance

Shares of NRGV opened at $0.92 on Wednesday. The stock has a market cap of $143.59 million, a PE ratio of -1.42 and a beta of 0.72. The firm has a 50-day simple moving average of $0.79 and a two-hundred day simple moving average of $1.37. Energy Vault Holdings, Inc. has a 1-year low of $0.60 and a 1-year high of $2.70.

Energy Vault (NYSE:NRGV) last announced its quarterly earnings data on Monday, May 12th. The company reported ($0.08) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.13) by $0.05. The firm had revenue of $8.53 million during the quarter, compared to analysts’ expectations 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 expect that Energy Vault Holdings, Inc. will post -0.64 earnings per share for the current fiscal year.

Insider Activity at Energy Vault

In other Energy Vault news, CEO Robert Piconi sold 40,277 shares of the business’s 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 in the company, valued at $18,850,747.78. The trade was a 0.20% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Akshay Ladwa sold 57,033 shares of the business’s stock in a transaction that occurred on Tuesday, April 29th. The stock was sold at an average price of $0.71, for a total transaction of $40,493.43. Following the transaction, 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. Over the last quarter, insiders sold 182,938 shares of company stock worth $139,150. Corporate insiders own 15.40% of the company’s stock.

Analyst Ratings Changes

NRGV has been the subject of a number of recent analyst reports. TD Cowen dropped their price target on shares of Energy Vault from $2.50 to $2.00 and set a “buy” rating for the company in a research report on Tuesday, March 18th. The Goldman Sachs Group dropped their price target on shares of Energy Vault from $1.00 to $0.75 and set a “sell” rating for the company in a research report on Wednesday, March 19th. Wall Street Zen upgraded shares of Energy Vault from a “strong sell” rating to a “hold” rating in a research report on Thursday, May 22nd. Finally, Roth Mkm dropped their price target on shares of Energy Vault from $2.50 to $1.50 and set a “buy” rating for the company in a research report on Thursday, March 20th.

Energy Vault Company 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.