Insider Selling: Energy Vault (NYSE:NRGV) CFO Sells $265,200.00 in Stock

Key Points

• Energy Vault CFO Michael Thomas Beer sold 65,000 shares on July 6 at an average price of $4.08, totaling $265,200. After the sale, he still owned 1,021,806 shares.
• The stock fell 6.1% in Wednesday trading to $3.56, below both its 50-day moving average of $4.75 and 200-day moving average of $4.33.
• Recent fundamentals and analyst views remain mixed: the company missed EPS expectations in its latest quarter, while Wall Street’s consensus rating is “Hold” with an average price target of $5.08.

Energy Vault Holdings, Inc. (NYSE:NRGV - Get Free Report) CFO Michael Thomas Beer sold 65,000 shares of Energy Vault stock in a transaction that occurred on Monday, July 6th. The stock was sold at an average price of $4.08, for a total transaction of $265,200.00. Following the completion of the sale, the chief financial officer directly owned 1,021,806 shares of the company's stock, valued at $4,168,968.48. The trade was a 5.98% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website.

Energy Vault Trading Down 6.1%

Shares of Energy Vault stock traded down $0.23 during trading hours on Wednesday, reaching $3.56. 4,223,665 shares of the company's stock were exchanged, compared to its average volume of 4,522,736. Energy Vault Holdings, Inc. has a 52-week low of $0.75 and a 52-week high of $6.64. The firm has a market capitalization of $634.57 million, a price-to-earnings ratio of -5.01 and a beta of 1.17. The company has a fifty day moving average of $4.75 and a 200-day moving average of $4.33. The company has a current ratio of 1.44, a quick ratio of 1.44 and a debt-to-equity ratio of 4.94.

Energy Vault (NYSE:NRGV - Get Free Report) last posted its quarterly earnings data on Tuesday, May 5th. The company reported ($0.20) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.15) by ($0.05). The business had revenue of $21.88 million for the quarter, compared to analyst estimates of $20.72 million. Energy Vault had a negative return on equity of 171.09% and a negative net margin of 52.97%. Sell-side analysts forecast that Energy Vault Holdings, Inc. will post -0.61 EPS for the current fiscal year.

Institutional Investors Weigh In On Energy Vault

Institutional investors have recently added to or reduced their stakes in the company. RFG Advisory LLC acquired a new position in shares of Energy Vault in the 4th quarter valued at about $1,560,000. UBS Group AG grew its holdings in shares of Energy Vault by 940.1% during the 4th quarter. UBS Group AG now owns 1,541,087 shares of the company's stock worth $7,104,000 after purchasing an additional 1,392,923 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. acquired a new stake in Energy Vault during the 4th quarter worth approximately $1,805,000. Legal & General Group Plc acquired a new stake in Energy Vault during the 4th quarter worth approximately $18,217,000. Finally, Abacus Wealth Partners LLC purchased a new position in Energy Vault in the fourth quarter valued at approximately $461,000. Hedge funds and other institutional investors own 40.03% of the company's stock.

Wall Street Analyst Weigh In

Several analysts have commented on NRGV shares. Cantor Fitzgerald assumed coverage on Energy Vault in a report on Tuesday, May 5th. They issued an "overweight" rating and a $7.00 price target for the company. Wall Street Zen lowered shares of Energy Vault from a "hold" rating to a "sell" rating in a report on Saturday, May 23rd. The Goldman Sachs Group raised their target price on shares of Energy Vault from $1.75 to $2.00 and gave the stock a "sell" rating in a research report on Thursday, March 19th. Weiss Ratings restated a "sell (d-)" rating on shares of Energy Vault in a report on Wednesday, May 27th. Finally, Citigroup began coverage on shares of Energy Vault in a research report on Thursday, June 11th. They set a "neutral" rating and a $5.25 price target for the company. Two equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus price target of $5.08.

About Energy Vault

Energy Vault is a global energy storage technology company specializing in long-duration, gravity-based energy storage solutions. Founded in 2017 and headquartered in Lugano, Switzerland, the firm has developed a modular system that uses large composite blocks and a proprietary crane system to convert excess renewable energy into gravitational potential energy. When energy demand peaks, the system lowers the blocks to generate electricity through regenerative braking, offering a dispatchable, carbon-free alternative to traditional battery storage.

The company's flagship product line, EVx, integrates advanced materials science, software-driven controls and artificial intelligence to optimize charge and discharge cycles.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.