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

CastleKnight Management LP acquired a new position in Energy Vault Holdings, Inc. (NYSE:NRGV - Free Report) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 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 filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Invesco Ltd. lifted its position in Energy Vault by 15,519.9% in the fourth quarter. Invesco Ltd. now owns 2,675,226 shares of the company's stock valued at $6,100,000 after buying an additional 2,658,099 shares during the last quarter. Truist Financial Corp acquired a new stake in Energy Vault in the 4th quarter valued at approximately $27,000. Barclays PLC raised its position in Energy Vault by 225.2% in the third quarter. Barclays PLC now owns 143,759 shares of the company's stock valued at $137,000 after purchasing an additional 99,550 shares during the period. Geode Capital Management LLC lifted its stake in Energy Vault by 8.5% during the third quarter. Geode Capital Management LLC now owns 2,273,042 shares of the company's stock worth $2,182,000 after purchasing an additional 177,214 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its position in shares of Energy Vault by 44.2% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 889,493 shares of the company's stock worth $2,028,000 after buying an additional 272,465 shares during the period. Hedge funds and other institutional investors own 40.03% of the company's stock.

Analysts Set New Price Targets

A number of analysts recently weighed in on NRGV shares. TD Cowen cut their target price on shares of Energy Vault from $2.50 to $2.00 and set a "buy" rating on the stock in a research note on Tuesday, March 18th. Roth Mkm dropped their price target on shares of Energy Vault from $2.50 to $1.50 and set a "buy" rating on the stock in a research note on Thursday, March 20th. Finally, The Goldman Sachs Group lowered their target price 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 company has a market capitalization of $107.97 million, a P/E ratio of -1.08 and a beta of 0.72. Energy Vault Holdings, Inc. has a 1-year low of $0.60 and a 1-year high of $2.70. The business has a 50 day moving average price of $0.88 and a 200 day moving average price of $1.50.

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 for the quarter, missing analysts' consensus estimates of ($0.14) by ($0.21). The business 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, research analysts expect that Energy Vault Holdings, Inc. will post -0.64 earnings per share for the current fiscal year.

Insider Activity

In other Energy Vault news, insider Akshay Ladwa sold 57,033 shares of Energy Vault stock in a transaction that occurred on Tuesday, April 29th. The shares were sold at an average price of $0.71, for a total transaction of $40,493.43. Following the transaction, the insider now directly owns 2,213,618 shares of the company's stock, valued at $1,571,668.78. The trade was a 2.51 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Insiders sold a total of 159,132 shares of company stock valued at $128,302 in the last 90 days. 15.40% of the stock is currently owned by insiders.

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.

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