Millennium Management LLC Boosts Holdings in Energy Vault Holdings, Inc. (NYSE:NRGV)

Millennium Management LLC boosted its stake in shares of Energy Vault Holdings, Inc. (NYSE:NRGV - Free Report) by 122.5% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,442,399 shares of the company's stock after buying an additional 794,253 shares during the quarter. Millennium Management LLC owned 0.95% of Energy Vault worth $3,289,000 as of its most recent SEC filing.

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

Energy Vault Trading Down 1.4%

NYSE:NRGV traded down $0.01 during mid-day trading on Wednesday, hitting $0.91. The stock had a trading volume of 812,684 shares, compared to its average volume of 1,183,603. The stock has a 50-day simple moving average of $0.80 and a two-hundred day simple moving average of $1.36. The company has a market capitalization of $141.61 million, a PE ratio of -1.40 and a beta of 0.72. Energy Vault Holdings, Inc. has a twelve month low of $0.60 and a twelve month high of $2.70.

Energy Vault (NYSE:NRGV - Get Free Report) last issued its earnings results on Monday, May 12th. The company reported ($0.08) earnings per share for the quarter, beating the consensus estimate of ($0.13) by $0.05. Energy Vault had a negative net margin of 73.37% and a negative return on equity of 47.41%. The firm had revenue of $8.53 million for the quarter, compared to analysts' expectations of $25.04 million. Sell-side analysts predict that Energy Vault Holdings, Inc. will post -0.64 EPS for the current fiscal year.

Insiders Place Their Bets

In other Energy Vault news, insider Akshay Ladwa sold 57,033 shares of the firm's 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 sale, the insider now owns 2,213,618 shares of the company's stock, valued at approximately $1,571,668.78. This trade represents a 2.51% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Robert Piconi sold 40,277 shares of the firm's stock in a transaction that occurred on Friday, May 16th. The stock was sold at an average price of $0.94, for a total transaction of $37,860.38. Following the sale, the chief executive officer now directly owns 20,053,987 shares in the company, valued at approximately $18,850,747.78. The trade was a 0.20% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 182,938 shares of company stock valued at $139,150. 15.40% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several research firms have recently commented on NRGV. Wall Street Zen raised shares of Energy Vault from a "strong sell" rating to a "hold" rating in a research note on Thursday, May 22nd. The Goldman Sachs Group lowered their price objective on shares of Energy Vault from $1.00 to $0.75 and set a "sell" rating for the company in a research note on Wednesday, March 19th. TD Cowen reduced their target price on shares of Energy Vault from $2.50 to $2.00 and set a "buy" rating on the stock in a report on Tuesday, March 18th. Finally, Roth Mkm reduced their target price on shares of Energy Vault from $2.50 to $1.50 and set a "buy" rating on the stock in a report on Thursday, March 20th.

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.