Private Capital Advisors Inc. Buys 431,000 Shares of Energy Vault Holdings, Inc. (NYSE:NRGV)

Private Capital Advisors Inc. lifted its holdings in Energy Vault Holdings, Inc. (NYSE:NRGV - Free Report) by 766.1% during the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 487,260 shares of the company's stock after purchasing an additional 431,000 shares during the period. Private Capital Advisors Inc. owned about 0.32% of Energy Vault worth $339,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the business. Squarepoint Ops LLC bought a new position in shares of Energy Vault in the 4th quarter worth approximately $50,000. Shepherd Kaplan Krochuk LLC bought a new position in shares of Energy Vault in the 4th quarter worth approximately $31,000. ProShare Advisors LLC increased its holdings in Energy Vault by 199.9% in the 4th quarter. ProShare Advisors LLC now owns 58,398 shares of the company's stock worth $133,000 after acquiring an additional 38,927 shares in the last quarter. Millennium Management LLC increased its holdings in Energy Vault by 122.5% in the 4th quarter. Millennium Management LLC now owns 1,442,399 shares of the company's stock worth $3,289,000 after acquiring an additional 794,253 shares in the last quarter. Finally, Deutsche Bank AG increased its holdings in Energy Vault by 69.2% in the 4th quarter. Deutsche Bank AG now owns 57,197 shares of the company's stock worth $130,000 after acquiring an additional 23,386 shares in the last quarter. Institutional investors own 40.03% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on NRGV shares. TD Cowen reduced their target price on shares of Energy Vault from $2.50 to $2.00 and set a "buy" rating for the company in a report on Tuesday, March 18th. The Goldman Sachs Group cut their price objective 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. Wall Street Zen raised shares of Energy Vault from a "strong sell" rating to a "hold" rating in a report on Thursday, May 22nd. Finally, Roth Mkm cut their price objective on shares of Energy Vault from $2.50 to $1.50 and set a "buy" rating for the company in a report on Thursday, March 20th.

Insiders Place Their Bets

In related news, insider Akshay Ladwa sold 57,033 shares of the firm's stock in a transaction on Tuesday, April 29th. The stock was sold at an average price of $0.71, for a total value of $40,493.43. Following the completion of the sale, the insider directly owned 2,213,618 shares in the company, valued at $1,571,668.78. This trade represents a 2.51% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Robert Piconi sold 40,277 shares of the firm's stock in a transaction on Friday, May 16th. The stock was sold at an average price of $0.94, for a total value of $37,860.38. Following the completion of the sale, the chief executive officer owned 20,053,987 shares of the company's stock, valued at approximately $18,850,747.78. This represents a 0.20% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 119,116 shares of company stock valued at $93,836. 15.40% of the stock is currently owned by insiders.

Energy Vault Trading Down 3.0%

NRGV stock opened at $0.83 on Monday. The firm has a fifty day moving average price of $0.86 and a 200 day moving average price of $1.18. Energy Vault Holdings, Inc. has a fifty-two week low of $0.60 and a fifty-two week high of $2.70. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.86 and a current ratio of 0.86. The firm has a market cap of $129.98 million, a PE ratio of -0.90 and a beta of 0.70.

Energy Vault (NYSE:NRGV - Get Free Report) last posted its earnings results on Monday, May 12th. The company reported ($0.08) earnings per share for the quarter, beating analysts' consensus estimates of ($0.13) by $0.05. Energy Vault had a negative net margin of 288.98% and a negative return on equity of 74.45%. The firm had revenue of $8.53 million during the quarter, compared to analyst estimates of $25.04 million. Sell-side analysts anticipate that Energy Vault Holdings, Inc. will post -0.64 earnings per share for the current fiscal year.

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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