Key Points
- CEO Robert Piconi bought 10,000 shares of Energy Vault on Nov. 14 at $3.00 each, bringing his direct holdings to 20,207,242 shares valued at about $60.6 million and continuing a recent pattern of insider purchases.
- Energy Vault reported weak Q3 results, missing estimates with EPS of -$0.16 (vs. -$0.10 expected) and revenue of $33.32M (vs. $48.99M expected), and showing very negative net margin and return on equity.
- The stock trades around $3.07 with a market cap near $496M, while analysts are split (consensus "Hold") and the average price target of $2.59 sits below the current share price.
Energy Vault Holdings, Inc. (NYSE:NRGV - Get Free Report) CEO Robert Piconi bought 10,000 shares of the business's stock in a transaction that occurred on Friday, November 14th. The shares were acquired at an average price of $3.00 per share, with a total value of $30,000.00. Following the completion of the transaction, the chief executive officer directly owned 20,207,242 shares of the company's stock, valued at $60,621,726. This trade represents a 0.05% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.
Robert Piconi also recently made the following trade(s):
- On Friday, September 19th, Robert Piconi purchased 17,500 shares of Energy Vault stock. The stock was acquired at an average price of $3.02 per share, for a total transaction of $52,850.00.
- On Wednesday, September 17th, Robert Piconi purchased 50,000 shares of Energy Vault stock. The shares were acquired at an average price of $2.30 per share, for a total transaction of $115,000.00.
- On Friday, August 29th, Robert Piconi acquired 22,500 shares of Energy Vault stock. The shares were acquired at an average cost of $1.92 per share, with a total value of $43,200.00.
Energy Vault Stock Performance
Shares of NYSE:NRGV traded down $0.05 during midday trading on Friday, hitting $3.07. The company had a trading volume of 2,929,280 shares, compared to its average volume of 3,028,744. Energy Vault Holdings, Inc. has a 12-month low of $0.60 and a 12-month high of $4.85. The company has a fifty day moving average of $3.18 and a two-hundred day moving average of $1.82. The company has a market cap of $496.07 million, a price-to-earnings ratio of -3.23 and a beta of 0.94. The company has a debt-to-equity ratio of 0.39, a current ratio of 0.63 and a quick ratio of 0.66.
Energy Vault (NYSE:NRGV - Get Free Report) last released its quarterly earnings results on Monday, November 10th. The company reported ($0.16) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.10) by ($0.06). The company had revenue of $33.32 million for the quarter, compared to the consensus estimate of $48.99 million. Energy Vault had a negative net margin of 172.61% and a negative return on equity of 119.98%. Energy Vault has set its FY 2025 guidance at EPS. On average, equities research analysts expect that Energy Vault Holdings, Inc. will post -0.64 EPS for the current fiscal year.
Hedge Funds Weigh In On Energy Vault
A number of hedge funds and other institutional investors have recently modified their holdings of NRGV. Creative Planning grew its stake in 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 acquiring an additional 3,690 shares in the last quarter. Virtu Financial LLC boosted its holdings in shares of Energy Vault by 171.4% during the 3rd quarter. Virtu Financial LLC now owns 72,136 shares of the company's stock valued at $214,000 after purchasing an additional 45,555 shares during the last quarter. Two Sigma Investments LP purchased a new position in shares of Energy Vault during the third quarter valued at about $182,000. Banco BTG Pactual S.A. bought a new stake in shares of Energy Vault in the third quarter worth about $43,000. Finally, Vanguard Group Inc. lifted its position in shares of Energy Vault by 20.4% in the third quarter. Vanguard Group Inc. now owns 1,823,443 shares of the company's stock worth $5,416,000 after buying an additional 308,509 shares in the last quarter. Institutional investors own 40.03% of the company's stock.
Analysts Set New Price Targets
Several research firms recently issued reports on NRGV. Fundamental Research set a $4.87 target price on shares of Energy Vault and gave the stock a "buy" rating in a report on Tuesday. The Goldman Sachs Group upped their price target on shares of Energy Vault from $1.50 to $2.00 and gave the stock a "sell" rating in a research report on Wednesday. Weiss Ratings restated a "sell (e+)" rating on shares of Energy Vault in a research report on Tuesday, October 14th. Finally, Zacks Research cut shares of Energy Vault from a "hold" rating to a "strong sell" rating in a research note on Wednesday, October 15th. Three analysts have rated the stock with a Buy rating and three have assigned a Sell rating to the company. According to data from MarketBeat.com, Energy Vault currently has a consensus rating of "Hold" and a consensus price target of $2.59.
Check Out Our Latest Stock Analysis on NRGV
About Energy Vault
(
Get Free Report)
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.
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