Energy Vault (NYSE:NRGV) CFO Michael Thomas Beer Sells 65,000 Shares of Stock

Energy Vault Holdings, Inc. (NYSE:NRGV) CFO Michael Thomas Beer sold 65,000 shares of Energy Vault stock in a transaction on Monday, April 6th. The stock was sold at an average price of $3.18, for a total value of $206,700.00. Following the completion of the transaction, the chief financial officer owned 1,060,945 shares in the company, valued at $3,373,805.10. The trade was a 5.77% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

Energy Vault Stock Performance

Shares of NYSE NRGV opened at $3.18 on Thursday. The company has a quick ratio of 0.73, a current ratio of 0.73 and a debt-to-equity ratio of 0.56. The stock has a market capitalization of $549.21 million, a price-to-earnings ratio of -4.88 and a beta of 0.90. The stock’s fifty day simple moving average is $3.51 and its 200 day simple moving average is $3.91. Energy Vault Holdings, Inc. has a 52-week low of $0.60 and a 52-week high of $6.35.

Energy Vault (NYSE:NRGV) last issued its earnings results on Tuesday, March 17th. The company reported ($0.13) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.07) by ($0.06). The company had revenue of $153.31 million during the quarter, compared to analyst estimates of $152.57 million. Energy Vault had a negative return on equity of 106.69% and a negative net margin of 50.87%. As a group, sell-side analysts forecast that Energy Vault Holdings, Inc. will post -0.64 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the business. Creative Planning grew its holdings in shares of Energy Vault by 3.7% during the third quarter. Creative Planning now owns 102,139 shares of the company’s stock valued at $303,000 after buying an additional 3,690 shares in the last quarter. Osaic Holdings Inc. grew its holdings in shares of Energy Vault by 12.4% during the fourth quarter. Osaic Holdings Inc. now owns 44,547 shares of the company’s stock valued at $205,000 after buying an additional 4,897 shares in the last quarter. Charles Schwab Investment Management Inc. grew its holdings in shares of Energy Vault by 1.2% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 668,703 shares of the company’s stock valued at $3,083,000 after buying an additional 7,742 shares in the last quarter. Mercer Global Advisors Inc. ADV grew its holdings in shares of Energy Vault by 70.0% during the fourth quarter. Mercer Global Advisors Inc. ADV now owns 20,808 shares of the company’s stock valued at $96,000 after buying an additional 8,570 shares in the last quarter. Finally, Kovack Advisors Inc. purchased a new position in shares of Energy Vault during the fourth quarter valued at $49,000. Hedge funds and other institutional investors own 40.03% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on the company. Zacks Research cut Energy Vault from a “hold” rating to a “strong sell” rating in a report on Tuesday, February 17th. Weiss Ratings restated a “sell (e+)” rating on shares of Energy Vault in a report on Friday, January 9th. The Goldman Sachs Group lifted their price target on Energy Vault from $1.75 to $2.00 and gave the company a “sell” rating in a report on Thursday, March 19th. Finally, Fundamental Research set a $6.05 price target on Energy Vault and gave the company a “buy” rating in a report on Tuesday, March 24th. One research analyst has rated the stock with a Buy rating and three have assigned a Sell rating to the stock. Based on data from MarketBeat.com, Energy Vault has a consensus rating of “Reduce” and a consensus target price of $4.03.

About Energy Vault

Energy Vault is a global energy storage technology company specializing in long-duration, gravity-based energy storage solutions. Founded in 2017 and headquartered in Lugano, Switzerland, the firm has developed a modular system that uses large composite blocks and a proprietary crane system to convert excess renewable energy into gravitational potential energy. When energy demand peaks, the system lowers the blocks to generate electricity through regenerative braking, offering a dispatchable, carbon-free alternative to traditional battery storage.

The company’s flagship product line, EVx, integrates advanced materials science, software-driven controls and artificial intelligence to optimize charge and discharge cycles.