CastleKnight Management LP Acquires New Holdings in Energy Vault Holdings, Inc. (NYSE:NRGV)

CastleKnight Management LP bought a new stake in shares of Energy Vault Holdings, Inc. (NYSE:NRGV - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund bought 1,207,200 shares of the company's stock, valued at approximately $2,752,000. CastleKnight Management LP owned 0.79% of Energy Vault as of its most recent SEC filing.

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

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on NRGV. The Goldman Sachs Group cut their price target on Energy Vault from $1.00 to $0.75 and set a "sell" rating for the company in a research note on Wednesday, March 19th. Roth Mkm cut their price target on Energy Vault from $2.50 to $1.50 and set a "buy" rating for the company in a report on Thursday, March 20th. Finally, TD Cowen decreased their target price on Energy Vault from $2.50 to $2.00 and set a "buy" rating on the stock in a research report on Tuesday, March 18th.

Energy Vault Price Performance

Shares of NRGV stock traded down $0.02 during trading hours on Friday, hitting $0.76. 801,083 shares of the company's stock were exchanged, compared to its average volume of 1,129,539. The stock's 50-day moving average is $0.83 and its 200-day moving average is $1.47. The stock has a market cap of $117.52 million, a price-to-earnings ratio of -1.17 and a beta of 0.72. Energy Vault Holdings, Inc. has a 52 week low of $0.60 and a 52 week high of $2.70.

Energy Vault (NYSE:NRGV - Get Free Report) last issued its quarterly earnings data on Monday, March 17th. The company reported ($0.35) earnings per share (EPS) 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 analyst estimates of $42.51 million. Energy Vault had a negative net margin of 73.37% and a negative return on equity of 47.41%. Equities research analysts forecast that Energy Vault Holdings, Inc. will post -0.64 earnings per share for the current fiscal year.

Insider Transactions at Energy Vault

In other news, insider Akshay Ladwa sold 57,033 shares of Energy Vault stock in a transaction dated Tuesday, April 29th. The shares were sold at an average price of $0.71, for a total value of $40,493.43. Following the completion of the transaction, 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 sale was disclosed in a legal filing with the SEC, which is available at this link. Insiders sold 142,661 shares of company stock valued at $101,289 over the last three months. Company insiders own 15.40% of the company's stock.

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.