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

Energy Vault Holdings, Inc. (NYSE:NRGV) CEO Robert Piconi purchased 7,500 shares of the business’s stock in a transaction dated Thursday, February 26th. The stock was purchased at an average price of $3.25 per share, for a total transaction of $24,375.00. Following the completion of the acquisition, the chief executive officer owned 20,090,637 shares of the company’s stock, valued at approximately $65,294,570.25. This represents a 0.04% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at this link.

Energy Vault Stock Up 8.0%

Shares of NYSE:NRGV traded up $0.26 during mid-day trading on Thursday, reaching $3.44. 3,033,175 shares of the stock were exchanged, compared to its average volume of 3,522,144. The stock’s 50 day simple moving average is $4.67 and its 200-day simple moving average is $3.61. Energy Vault Holdings, Inc. has a one year low of $0.60 and a one year high of $6.35. The company has a market cap of $576.36 million, a P/E ratio of -3.63 and a beta of 0.91. The company has a quick ratio of 0.59, a current ratio of 0.63 and a debt-to-equity ratio of 0.39.

Institutional Investors Weigh In On Energy Vault

Several hedge funds have recently bought and sold shares of the company. Y Intercept Hong Kong Ltd acquired a new position in shares of Energy Vault in the second quarter valued at $156,000. Mesirow Financial Investment Management Inc. boosted its holdings in shares of Energy Vault by 19.0% during the 2nd quarter. Mesirow Financial Investment Management Inc. now owns 125,000 shares of the company’s stock worth $90,000 after buying an additional 20,000 shares during the period. Catalyst Funds Management Pty Ltd acquired a new position in Energy Vault in the 2nd quarter valued at about $36,000. Abacus Wealth Partners LLC bought a new position in Energy Vault in the 4th quarter valued at about $461,000. Finally, Meridian Wealth Management LLC bought a new position in Energy Vault in the 4th quarter valued at about $81,000. 40.03% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on NRGV. Weiss Ratings reissued a “sell (e+)” rating on shares of Energy Vault in a research report on Friday, January 9th. Fundamental Research set a $5.19 price target on shares of Energy Vault and gave the stock a “buy” rating in a research report on Tuesday, November 18th. The Goldman Sachs Group increased their price objective on shares of Energy Vault from $1.50 to $2.00 and gave the stock a “sell” rating in a research note on Wednesday, November 12th. Finally, Zacks Research downgraded Energy Vault from a “hold” rating to a “strong sell” rating in a research report on Tuesday, February 17th. Three equities research analysts have rated the stock with a Buy rating and three have given a Sell rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus 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.