MetLife Investment Management LLC Makes New Investment in Energy Vault Holdings, Inc. (NYSE:NRGV)

MetLife Investment Management LLC bought a new stake in shares of Energy Vault Holdings, Inc. (NYSE:NRGV) in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 37,737 shares of the company’s stock, valued at approximately $86,000.

A number of other hedge funds have also recently made changes to their positions in the stock. Rhumbline Advisers raised its stake in shares of Energy Vault by 4.9% during the fourth quarter. Rhumbline Advisers now owns 146,881 shares of the company’s stock valued at $335,000 after acquiring an additional 6,851 shares in the last quarter. DRW Securities LLC raised its position in Energy Vault by 22.0% during the 4th quarter. DRW Securities LLC now owns 39,400 shares of the company’s stock valued at $90,000 after purchasing an additional 7,100 shares in the last quarter. Root Financial Partners LLC lifted its holdings in shares of Energy Vault by 35.0% in the 4th quarter. Root Financial Partners LLC now owns 30,404 shares of the company’s stock worth $69,000 after buying an additional 7,876 shares during the period. SG Americas Securities LLC lifted its holdings in shares of Energy Vault by 22.5% in the 4th quarter. SG Americas Securities LLC now owns 43,600 shares of the company’s stock worth $99,000 after buying an additional 7,999 shares during the period. Finally, Truist Financial Corp bought a new position in shares of Energy Vault during the 4th quarter worth $27,000. 40.03% of the stock is currently owned by institutional investors.

Energy Vault Stock Performance

Shares of NRGV opened at $0.76 on Friday. The stock has a 50-day moving average of $0.83 and a two-hundred day moving average of $1.47. The stock has a market cap of $117.52 million, a P/E ratio of -1.17 and a beta of 0.72. Energy Vault Holdings, Inc. has a one year low of $0.60 and a one year high of $2.70.

Energy Vault (NYSE:NRGV) last released 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). Energy Vault had a negative return on equity of 47.41% and a negative net margin of 73.37%. The business had revenue of $38.95 million during the quarter, compared to analyst estimates of $42.51 million. Analysts predict that Energy Vault Holdings, Inc. will post -0.64 EPS for the current fiscal year.

Analyst Ratings Changes

A number of analysts recently weighed in on the stock. TD Cowen lowered their price objective on shares of Energy Vault from $2.50 to $2.00 and set a “buy” rating for the company in a research note on Tuesday, March 18th. Roth Mkm lowered their price target on shares of Energy Vault from $2.50 to $1.50 and set a “buy” rating for the company in a research report on Thursday, March 20th. Finally, The Goldman Sachs Group cut their price objective on shares of Energy Vault from $1.00 to $0.75 and set a “sell” rating on the stock in a report on Wednesday, March 19th.

Insider Buying and Selling

In related news, insider Akshay Ladwa sold 57,033 shares of the business’s stock in a transaction on Tuesday, April 29th. The shares were sold at an average price of $0.71, for a total value of $40,493.43. Following the completion of the sale, the insider now owns 2,213,618 shares of the company’s stock, valued at approximately $1,571,668.78. The trade was a 2.51 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In the last 90 days, insiders sold 142,661 shares of company stock valued at $101,289. 15.40% of the stock is owned by company 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.