Insider Selling: Energy Vault Holdings, Inc. (NYSE:NRGV) Insider Sells $21,110.90 in Stock

Energy Vault Holdings, Inc. (NYSE:NRGV) insider Marco Terruzzin sold 22,222 shares of the firm’s stock in a transaction that occurred on Tuesday, October 1st. The shares were sold at an average price of $0.95, for a total value of $21,110.90. Following the completion of the sale, the insider now directly owns 1,593,888 shares in the company, valued at approximately $1,514,193.60. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this link.

Energy Vault Price Performance

NRGV stock opened at $0.93 on Friday. Energy Vault Holdings, Inc. has a 1 year low of $0.78 and a 1 year high of $3.22. The firm has a market capitalization of $137.95 million, a PE ratio of -1.54 and a beta of 0.65. The business has a 50 day simple moving average of $0.95 and a 200-day simple moving average of $1.15.

Energy Vault (NYSE:NRGV) last announced its quarterly earnings data on Tuesday, August 6th. The company reported ($0.18) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.11) by ($0.07). Energy Vault had a negative net margin of 29.29% and a negative return on equity of 40.67%. The firm had revenue of $3.77 million during the quarter, compared to analysts’ expectations of $16.65 million. During the same period in the prior year, the company posted ($0.18) EPS. On average, equities research analysts expect that Energy Vault Holdings, Inc. will post -0.6 EPS for the current year.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the stock. SG Americas Securities LLC lifted its position in shares of Energy Vault by 95.5% during the third quarter. SG Americas Securities LLC now owns 35,601 shares of the company’s stock worth $34,000 after purchasing an additional 17,388 shares in the last quarter. Mesirow Financial Investment Management Inc. boosted its holdings in shares of Energy Vault by 33.3% in the second quarter. Mesirow Financial Investment Management Inc. now owns 80,000 shares of the company’s stock valued at $76,000 after acquiring an additional 20,000 shares during the period. Mirae Asset Global Investments Co. Ltd. boosted its stake in Energy Vault by 17.4% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 242,541 shares of the company’s stock worth $434,000 after purchasing an additional 35,935 shares during the period. Vanguard Group Inc. boosted its stake in shares of Energy Vault by 2.7% during the first quarter. Vanguard Group Inc. now owns 1,675,361 shares of the company’s stock worth $2,999,000 after buying an additional 43,764 shares during the period. Finally, Jacobs Levy Equity Management Inc. purchased a new position in shares of Energy Vault in the 1st quarter valued at approximately $91,000. Institutional investors and hedge funds own 40.03% of the company’s stock.

Wall Street Analyst Weigh In

Separately, Roth Mkm dropped 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 report on Thursday, August 8th. Two analysts have rated the stock with a sell rating and four have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $2.25.

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.