Energy Vault (NYSE:NRGV) Director Dylan Hixon Buys 85,518 Shares of Company Stock

Energy Vault Holdings, Inc. (NYSE:NRGV) Director Dylan Hixon bought 85,518 shares of the stock in a transaction that occurred on Friday, August 14th. The shares were bought at an average cost of $3.74 per share, with a total value of $319,837.32. Following the completion of the transaction, the director owned 1,103,185 shares in the company, valued at $4,125,911.90. The trade was a 8.40% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website.

Dylan Hixon also recently made the following trade(s):

• On Monday, August 17th, Dylan Hixon bought 27,472 shares of Energy Vault stock. The shares were bought at an average cost of $3.88 per share, with a total value of $106,591.36.

Energy Vault Trading Down 3.9%

NYSE:NRGV traded down $0.16 during trading hours on Monday, hitting $3.79. 684,267 shares of the company were exchanged, compared to its average volume of 4,493,698. The stock has a market capitalization of $688.26 million, a price-to-earnings ratio of -5.73 and a beta of 1.25. The company has a current ratio of 1.19, a quick ratio of 1.19 and a debt-to-equity ratio of 24.07. Energy Vault Holdings, Inc. has a one year low of $2.50 and a one year high of $6.64. The company has a fifty day simple moving average of $3.76 and a 200 day simple moving average of $4.02.

Energy Vault (NYSE:NRGV) last announced its earnings results on Tuesday, August 11th. The company reported ($0.17) earnings per share (EPS) for the quarter, missing the consensus estimate 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 company had revenue of $17.37 million for the quarter, compared to the consensus estimate of $14.24 million. Sell-side analysts expect that Energy Vault Holdings, Inc. will post -0.56 EPS for the current fiscal year.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the company. Cantor Fitzgerald reissued an “overweight” rating and issued a $7.00 price objective on shares of Energy Vault in a research report on Wednesday, August 12th. Roth Capital reissued a “buy” rating and issued a $7.00 price objective (up from $5.00) on shares of Energy Vault in a research report on Wednesday, August 12th. Fundamental Research set a $8.03 price objective on Energy Vault and gave the stock a “buy” rating in a research report on Tuesday, August 18th. Zacks Research raised Energy Vault from a “strong sell” rating to a “hold” rating in a research report on Monday, July 6th. Finally, Wall Street Zen lowered Energy Vault from a “sell” rating to a “strong sell” rating in a research report on Saturday, August 15th. Four research analysts have rated the stock with a Buy rating, one has given a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $6.01.

Hedge Funds Weigh In On Energy Vault

Hedge funds have recently added to or reduced their stakes in the stock. BlackRock Inc. acquired a new position in Energy Vault during the 2nd quarter valued at about $52,657,000. Legal & General Group Plc acquired a new position in Energy Vault during the 2nd quarter valued at about $25,508,000. SailingStone Capital Partners LLC boosted its stake in Energy Vault by 0.5% during the 2nd quarter. SailingStone Capital Partners LLC now owns 4,469,075 shares of the company’s stock valued at $21,049,000 after purchasing an additional 24,058 shares during the last quarter. UBS Group AG boosted its stake in Energy Vault by 940.1% during the 4th quarter. UBS Group AG now owns 1,541,087 shares of the company’s stock valued at $7,104,000 after purchasing an additional 1,392,923 shares during the last quarter. Finally, J. Goldman & Co LP acquired a new position in Energy Vault during the 2nd quarter valued at about $7,085,000. Institutional investors and hedge funds own 40.03% of the company’s stock.

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.