The Manufacturers Life Insurance Company Makes New Investment in Energy Vault Holdings, Inc. (NYSE:NRGV)

The Manufacturers Life Insurance Company purchased a new position in shares of Energy Vault Holdings, Inc. (NYSE:NRGV) during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 39,295 shares of the company’s stock, valued at approximately $90,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. Truist Financial Corp bought a new stake in Energy Vault in the fourth quarter worth $27,000. Virtu Financial LLC acquired a new stake in shares of Energy Vault in the fourth quarter worth about $27,000. Atala Financial Inc bought a new stake in shares of Energy Vault during the 4th quarter worth about $31,000. PFG Investments LLC bought a new stake in shares of Energy Vault during the 4th quarter worth about $42,000. Finally, XTX Topco Ltd acquired a new position in shares of Energy Vault during the 4th quarter valued at about $46,000. Institutional investors own 40.03% of the company’s stock.

Insider Buying and Selling at Energy Vault

In other news, insider Akshay Ladwa sold 57,033 shares of the company’s stock in a transaction dated Tuesday, April 29th. The shares were sold at an average price of $0.71, for a total transaction of $40,493.43. Following the completion of the transaction, the insider now owns 2,213,618 shares of the company’s stock, valued at approximately $1,571,668.78. This 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 accessible through the SEC website. Also, CEO Robert Piconi sold 40,277 shares of the stock in a transaction dated Friday, May 16th. The shares were sold at an average price of $0.94, for a total transaction of $37,860.38. Following the completion of the sale, the chief executive officer now owns 20,053,987 shares of the company’s stock, 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. Insiders sold a total of 182,938 shares of company stock valued at $139,150 in the last ninety days. Company insiders own 15.40% of the company’s stock.

Wall Street Analyst Weigh In

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

Energy Vault Stock Down 0.4%

Shares of NYSE:NRGV opened at $0.89 on Tuesday. The company has a market cap of $136.51 million, a price-to-earnings ratio of -1.36 and a beta of 0.72. The business has a 50 day moving average price of $0.80 and a 200 day moving average price of $1.44. Energy Vault Holdings, Inc. has a twelve month low of $0.60 and a twelve month high of $2.70.

Energy Vault (NYSE:NRGV) last posted its quarterly earnings data 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. The company had revenue of $8.53 million during the quarter, compared to analysts’ expectations of $25.04 million. Energy Vault had a negative return on equity of 47.41% and a negative net margin of 73.37%. Analysts anticipate that Energy Vault Holdings, Inc. will post -0.64 EPS for the current 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.