CastleKnight Management LP Invests $2.75 Million in Energy Vault Holdings, Inc. (NYSE:NRGV)

CastleKnight Management LP purchased a new position in Energy Vault Holdings, Inc. (NYSE:NRGV) in the fourth quarter, Holdings Channel reports. The fund purchased 1,207,200 shares of the company’s stock, valued at approximately $2,752,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Virtu Financial LLC bought a new position in Energy Vault during the fourth quarter worth $27,000. Truist Financial Corp acquired a new position in Energy Vault in the fourth quarter valued at approximately $27,000. Atala Financial Inc bought a new stake in shares of Energy Vault in the 4th quarter worth approximately $31,000. PFG Investments LLC acquired a new position in Energy Vault during the 4th quarter valued at approximately $42,000. Finally, BNP Paribas Financial Markets bought a new stake in Energy Vault in the fourth quarter valued at $44,000. 40.03% of the stock is owned by institutional investors.

Insider Activity at Energy Vault

In other Energy Vault news, insider Akshay Ladwa sold 57,033 shares of the firm’s stock in a transaction that occurred on Tuesday, April 29th. The stock was sold at an average price of $0.71, for a total value of $40,493.43. Following the sale, the insider now owns 2,213,618 shares of the company’s stock, valued at $1,571,668.78. This trade represents a 2.51 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. In the last ninety days, insiders have sold 159,132 shares of company stock valued at $128,302. Corporate insiders own 15.40% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on NRGV shares. Roth Mkm cut their price objective on shares of Energy Vault from $2.50 to $1.50 and set a “buy” rating on the stock in a research report on Thursday, March 20th. TD Cowen lowered their price target on Energy Vault from $2.50 to $2.00 and set a “buy” rating on the stock in a report on Tuesday, March 18th. Finally, The Goldman Sachs Group reduced their price objective on shares of Energy Vault from $1.00 to $0.75 and set a “sell” rating for the company in a report on Wednesday, March 19th.

Energy Vault Price Performance

NYSE:NRGV opened at $0.70 on Tuesday. The stock has a market cap of $107.97 million, a PE ratio of -1.08 and a beta of 0.72. The stock’s 50-day moving average is $0.88 and its two-hundred day moving average is $1.50. Energy Vault Holdings, Inc. has a fifty-two week low of $0.60 and a fifty-two week high of $2.70.

Energy Vault (NYSE:NRGV) last posted its quarterly earnings results on Monday, March 17th. The company reported ($0.35) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.14) by ($0.21). The firm had revenue of $38.95 million for the quarter, compared to analysts’ expectations of $42.51 million. Energy Vault had a negative return on equity of 47.41% and a negative net margin of 73.37%. On average, equities research analysts anticipate that Energy Vault Holdings, Inc. will post -0.64 earnings per share for the current year.

Energy Vault Company Profile

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.