Energy Vault (NYSE:NRGV) CEO Robert Piconi Buys 7,500 Shares

Energy Vault Holdings, Inc. (NYSE:NRGV) CEO Robert Piconi bought 7,500 shares of the business’s stock in a transaction on Thursday, February 26th. The shares were acquired at an average price of $3.25 per share, with a total value of $24,375.00. Following the transaction, the chief executive officer directly owned 20,090,637 shares of the company’s stock, valued at approximately $65,294,570.25. This trade represents a 0.04% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

Energy Vault Stock Performance

Shares of NYSE NRGV traded down $0.20 during midday trading on Friday, hitting $3.21. The company’s stock had a trading volume of 430,048 shares, compared to its average volume of 3,462,742. The firm has a market capitalization of $537.77 million, a price-to-earnings ratio of -3.39 and a beta of 0.91. The company has a current ratio of 0.63, a quick ratio of 0.59 and a debt-to-equity ratio of 0.39. The stock has a fifty day moving average price of $4.63 and a 200 day moving average price of $3.61. Energy Vault Holdings, Inc. has a one year low of $0.60 and a one year high of $6.35.

Hedge Funds Weigh In On Energy Vault

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Cambient Family Office LLC bought a new position in Energy Vault in the 4th quarter worth about $320,000. Invesco Ltd. purchased a new position in shares of Energy Vault during the fourth quarter worth about $11,454,000. Beartown Capital Management LLC bought a new position in shares of Energy Vault in the fourth quarter worth approximately $2,766,000. Mercer Global Advisors Inc. ADV raised its stake in Energy Vault by 70.0% in the fourth quarter. Mercer Global Advisors Inc. ADV now owns 20,808 shares of the company’s stock valued at $96,000 after purchasing an additional 8,570 shares in the last quarter. Finally, Tudor Investment Corp ET AL bought a new stake in Energy Vault during the fourth quarter valued at approximately $554,000. 40.03% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts have issued reports on NRGV shares. Zacks Research downgraded Energy Vault from a “hold” rating to a “strong sell” rating in a research report on Tuesday, February 17th. Weiss Ratings reiterated a “sell (e+)” rating on shares of Energy Vault in a research note on Friday, January 9th. The Goldman Sachs Group raised their target price on Energy Vault from $1.50 to $2.00 and gave the stock a “sell” rating in a research note on Wednesday, November 12th. Finally, Fundamental Research set a $5.19 price target on Energy Vault and gave the company a “buy” rating in a research report on Tuesday, November 18th. Three research analysts have rated the stock with a Buy rating and three have issued a Sell rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $2.67.

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.