Energy Vault (NYSE:NRGV) Sets New 52-Week High Following Insider Buying Activity

Key Points

• Energy Vault Holdings, Inc. shares reached a new 52-week high of $3.17, driven by significant insider buying activity, including CEO Robert Piconi's recent acquisitions.
• Analysts have updated their ratings for the stock, with Wall Street Zen upgrading it from a "strong sell" to a "hold," while the company maintains an average price target of $1.42.
• Energy Vault reported a quarterly loss of ($0.22) EPS, significantly missing analysts' estimates, leading to ongoing concerns about its financial performance.

Energy Vault Holdings, Inc. (NYSE:NRGV - Get Free Report)'s share price reached a new 52-week high during trading on Friday after an insider bought additional shares in the company. The stock traded as high as $3.16 and last traded at $3.17, with a volume of 5466401 shares traded. The stock had previously closed at $2.68.

Specifically, CEO Robert Piconi purchased 17,500 shares of the stock in a transaction dated Friday, September 19th. The shares were purchased at an average cost of $3.02 per share, with a total value of $52,850.00. Following the completion of the purchase, the chief executive officer directly owned 20,199,884 shares of the company's stock, valued at approximately $61,003,649.68. The trade was a 0.09% increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, CEO Robert Piconi acquired 50,000 shares of the stock in a transaction on Wednesday, September 17th. The shares were bought at an average cost of $2.30 per share, for a total transaction of $115,000.00. Following the purchase, the chief executive officer directly owned 20,182,384 shares of the company's stock, valued at $46,419,483.20. The trade was a 0.25% increase in their position. The disclosure for this purchase can be found here.

Energy Vault Price Performance

The company has a current ratio of 0.66, a quick ratio of 0.66 and a debt-to-equity ratio of 0.11. The stock has a market cap of $496.07 million, a PE ratio of -3.16 and a beta of 0.82. The company has a fifty day moving average of $1.62 and a 200-day moving average of $1.11.

Energy Vault (NYSE:NRGV - Get Free Report) last issued its quarterly earnings results on Thursday, August 7th. The company reported ($0.22) earnings per share for the quarter, missing the consensus estimate of ($0.07) by ($0.15). Energy Vault had a negative return on equity of 96.64% and a negative net margin of 279.38%.The company had revenue of $8.51 million for the quarter, compared to analysts' expectations of $31.18 million. Energy Vault has set its FY 2025 guidance at EPS. Sell-side analysts expect that Energy Vault Holdings, Inc. will post -0.64 EPS for the current fiscal year.

Institutional Trading of Energy Vault

Hedge funds have recently added to or reduced their stakes in the stock. Ground Swell Capital LLC acquired a new stake in shares of Energy Vault in the 2nd quarter valued at approximately $26,000. Catalyst Funds Management Pty Ltd purchased a new position in Energy Vault during the second quarter worth $36,000. XTX Topco Ltd purchased a new position in Energy Vault during the second quarter worth $39,000. BNP Paribas Financial Markets purchased a new stake in shares of Energy Vault in the fourth quarter valued at $44,000. Finally, Squarepoint Ops LLC purchased a new stake in shares of Energy Vault in the fourth quarter valued at $50,000. 40.03% of the stock is owned by institutional investors and hedge funds.

About Energy Vault

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.