DRW Securities LLC Makes New $31,000 Investment in Energy Vault Holdings, Inc. (NYSE:NRGV)

DRW Securities LLC bought a new stake in shares of Energy Vault Holdings, Inc. (NYSE:NRGV) in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 32,300 shares of the company’s stock, valued at approximately $31,000.

A number of other hedge funds have also recently made changes to their positions in the stock. Vanguard Group Inc. increased its position in Energy Vault by 2.7% during the 1st quarter. Vanguard Group Inc. now owns 1,675,361 shares of the company’s stock valued at $2,999,000 after buying an additional 43,764 shares in the last quarter. Jacobs Levy Equity Management Inc. bought a new position in shares of Energy Vault during the first quarter valued at $91,000. Bank of New York Mellon Corp raised its position in shares of Energy Vault by 21.8% in the 2nd quarter. Bank of New York Mellon Corp now owns 341,909 shares of the company’s stock worth $325,000 after purchasing an additional 61,135 shares during the last quarter. Mesirow Financial Investment Management Inc. boosted its stake in Energy Vault by 33.3% in the 2nd quarter. Mesirow Financial Investment Management Inc. now owns 80,000 shares of the company’s stock worth $76,000 after purchasing an additional 20,000 shares in the last quarter. Finally, XTX Topco Ltd grew its position in Energy Vault by 684.0% during the 2nd quarter. XTX Topco Ltd now owns 173,016 shares of the company’s stock valued at $164,000 after purchasing an additional 150,948 shares during the last quarter. 40.03% of the stock is owned by institutional investors.

Energy Vault Trading Up 4.7 %

Shares of NRGV stock opened at $1.90 on Thursday. Energy Vault Holdings, Inc. has a 12-month low of $0.78 and a 12-month high of $2.68. The stock has a market capitalization of $288.27 million, a P/E ratio of -2.92 and a beta of 0.45. The firm’s 50 day moving average is $1.44 and its 200 day moving average is $1.19.

Energy Vault (NYSE:NRGV) last released its quarterly earnings results on Tuesday, November 12th. The company reported ($0.18) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.15) by ($0.03). The firm had revenue of $1.20 million during the quarter, compared to analysts’ expectations of $4.80 million. Energy Vault had a negative return on equity of 47.41% and a negative net margin of 73.37%. During the same quarter last year, the business earned ($0.13) earnings per share. As a group, equities analysts predict that Energy Vault Holdings, Inc. will post -0.64 earnings per share for the current year.

Insider Buying and Selling at Energy Vault

In other Energy Vault news, CEO Robert Piconi acquired 150,000 shares of the company’s stock in a transaction that occurred on Friday, November 22nd. The shares were bought at an average price of $1.57 per share, with a total value of $235,500.00. Following the completion of the acquisition, the chief executive officer now owns 17,623,361 shares in the company, valued at $27,668,676.77. This represents a 0.86 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 19.80% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have issued reports on NRGV shares. TD Cowen reaffirmed a “buy” rating and issued a $2.50 target price on shares of Energy Vault in a report on Wednesday, November 13th. Roth Mkm cut their target price on Energy Vault from $2.50 to $2.00 and set a “buy” rating on the stock in a research note on Thursday, August 8th. Two equities research analysts have rated the stock with a sell rating and four have given a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $1.95.

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.