State Street Corp Purchases 20,915 Shares of Energy Vault Holdings, Inc. (NYSE:NRGV)

State Street Corp increased its position in Energy Vault Holdings, Inc. (NYSE:NRGV) by 1.1% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,850,702 shares of the company’s stock after purchasing an additional 20,915 shares during the period. State Street Corp owned 1.23% of Energy Vault worth $1,777,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in the company. SG Americas Securities LLC grew its position in shares of Energy Vault by 95.5% in the 3rd quarter. SG Americas Securities LLC now owns 35,601 shares of the company’s stock worth $34,000 after buying an additional 17,388 shares during the period. Mesirow Financial Investment Management Inc. boosted its stake in Energy Vault by 33.3% during the second quarter. Mesirow Financial Investment Management Inc. now owns 80,000 shares of the company’s stock worth $76,000 after acquiring an additional 20,000 shares in the last quarter. DRW Securities LLC bought a new stake in Energy Vault during the third quarter worth about $31,000. Green Alpha Advisors LLC grew its holdings in Energy Vault by 62.3% in the third quarter. Green Alpha Advisors LLC now owns 158,171 shares of the company’s stock worth $152,000 after purchasing an additional 60,725 shares during the period. Finally, Bank of New York Mellon Corp increased its stake in shares of Energy Vault by 21.8% during the second quarter. Bank of New York Mellon Corp now owns 341,909 shares of the company’s stock valued at $325,000 after purchasing an additional 61,135 shares in the last quarter. Institutional investors own 40.03% of the company’s stock.

Wall Street Analyst Weigh In

Separately, TD Cowen reissued a “buy” rating and issued a $2.50 price target on shares of Energy Vault in a research report on Wednesday, November 13th. Two investment analysts have rated the stock with a sell rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $1.95.

Energy Vault Stock Performance

Shares of Energy Vault stock opened at $2.28 on Thursday. The stock has a market capitalization of $346.83 million, a PE ratio of -3.51 and a beta of 0.49. The company has a 50-day simple moving average of $1.83 and a two-hundred day simple moving average of $1.32. Energy Vault Holdings, Inc. has a 52-week low of $0.78 and a 52-week high of $2.55.

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

Insider Activity

In other news, CEO Robert Piconi acquired 150,000 shares of the business’s stock in a transaction that occurred on Friday, November 22nd. The stock was 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 directly owns 17,623,361 shares of the company’s stock, valued at approximately $27,668,676.77. The trade was a 0.86 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 19.80% of the stock is owned by corporate insiders.

Energy Vault 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.