Jefferies Financial Group Inc. Makes New Investment in Energy Vault Holdings, Inc. $NRGV

Jefferies Financial Group Inc. purchased a new stake in shares of Energy Vault Holdings, Inc. (NYSE:NRGV) in the second quarter, according to its most recent 13F filing with the SEC. The fund purchased 160,481 shares of the company’s stock, valued at approximately $756,000. Jefferies Financial Group Inc. owned approximately 0.09% of Energy Vault at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in the company. Forte Asset Management LLC purchased a new position in Energy Vault in the first quarter worth $33,000. Calamos Advisors LLC purchased a new position in Energy Vault in the first quarter worth $48,000. Quantbot Technologies LP purchased a new position in Energy Vault in the second quarter worth $50,000. Miller Howard Investments Inc. NY purchased a new position in Energy Vault in the first quarter worth $51,000. Finally, Hsbc Holdings PLC purchased a new position in Energy Vault in the second quarter worth $57,000. 40.03% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Energy Vault news, Director Dylan Hixon acquired 85,518 shares of the company’s stock in a transaction on Friday, August 14th. The stock was acquired at an average cost of $3.74 per share, with a total value of $319,837.32. Following the purchase, the director directly owned 1,103,185 shares of the company’s stock, valued at approximately $4,125,911.90. This represents a 8.40% increase in their position. The purchase was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Stephanie Unwin sold 115,000 shares of Energy Vault stock in a transaction on Wednesday, August 26th. The stock was sold at an average price of $3.71, for a total transaction of $426,650.00. Following the completion of the transaction, the director directly owned 182,245 shares of the company’s stock, valued at $676,128.95. The trade was a 38.69% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 17.20% of the company’s stock.

Energy Vault Price Performance

Shares of NYSE:NRGV traded down $0.17 on Monday, reaching $3.78. The company’s stock had a trading volume of 684,267 shares, compared to its average volume of 4,493,698. Energy Vault Holdings, Inc. has a 52-week low of $2.50 and a 52-week high of $6.64. The company has a market cap of $686.45 million, a P/E ratio of -5.73 and a beta of 1.25. The company has a 50-day simple moving average of $3.76 and a 200 day simple moving average of $4.02. The company has a debt-to-equity ratio of 24.07, a quick ratio of 1.19 and a current ratio of 1.19.

Energy Vault (NYSE:NRGV) last issued its quarterly earnings data on Tuesday, August 11th. The company reported ($0.17) EPS for the quarter, missing analysts’ consensus estimates of ($0.14) by ($0.03). Energy Vault had a negative return on equity of 236.83% and a negative net margin of 48.58%.The business had revenue of $17.37 million during the quarter, compared to analysts’ expectations of $14.24 million. As a group, equities research analysts anticipate that Energy Vault Holdings, Inc. will post -0.56 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several analysts have issued reports on NRGV shares. Citigroup upped their price target on shares of Energy Vault from $5.00 to $6.00 and gave the company a “buy” rating in a research report on Thursday, August 20th. Wall Street Zen lowered shares of Energy Vault from a “sell” rating to a “strong sell” rating in a research report on Saturday, August 15th. Weiss Ratings lowered shares of Energy Vault from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Wednesday, August 12th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $7.00 price objective on shares of Energy Vault in a research note on Wednesday, August 12th. Finally, Fundamental Research set a $8.03 price objective on shares of Energy Vault and gave the company a “buy” rating in a research note on Tuesday, August 18th. Four investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $6.01.

Energy Vault Company Profile

Energy Vault Holdings, Inc (NYSE: NRGV) develops and deploys long-duration energy storage systems designed to help utilities, renewable energy developers and industrial customers store electricity and improve grid reliability. Its solutions are intended to complement intermittent renewable power sources such as wind and solar by storing energy when supply is abundant and releasing it when demand is higher.

The company’s portfolio includes gravity-based energy storage systems, which use mechanical structures and heavy materials to store and release energy, as well as battery energy storage solutions.