Energy Vault Holdings, Inc. (NYSE:NRGV) Shares Sold by Cynosure Group LLC

Cynosure Group LLC lowered its position in shares of Energy Vault Holdings, Inc. (NYSE:NRGV) by 63.5% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 33,940 shares of the company’s stock after selling 59,000 shares during the quarter. Cynosure Group LLC’s holdings in Energy Vault were worth $61,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the company. Sapient Capital LLC bought a new position in shares of Energy Vault during the fourth quarter valued at approximately $498,000. CenterBook Partners LP bought a new position in Energy Vault during the 4th quarter valued at $260,000. Mesirow Financial Investment Management Inc. bought a new position in Energy Vault during the 1st quarter valued at $107,000. Vanguard Group Inc. lifted its position in shares of 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 acquiring an additional 43,764 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. lifted its position in shares of Energy Vault by 17.4% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 242,541 shares of the company’s stock valued at $434,000 after acquiring an additional 35,935 shares during the last quarter. Institutional investors and hedge funds own 40.03% of the company’s stock.

Energy Vault Stock Up 0.9 %

NYSE:NRGV traded up $0.01 on Tuesday, reaching $1.13. The company’s stock had a trading volume of 136,515 shares, compared to its average volume of 776,873. Energy Vault Holdings, Inc. has a 1-year low of $0.91 and a 1-year high of $3.52. The business’s 50-day moving average price is $1.13 and its two-hundred day moving average price is $1.44.

Energy Vault (NYSE:NRGV) last released its earnings results on Wednesday, May 8th. The company reported ($0.14) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.14). The business had revenue of $7.76 million for the quarter, compared to analyst estimates of $11.35 million. Energy Vault had a negative return on equity of 38.36% and a negative net margin of 26.17%. As a group, equities analysts expect that Energy Vault Holdings, Inc. will post -0.5 earnings per share for the current year.

Insider Buying and Selling

In other Energy Vault news, CMO Laurence Alexander sold 22,316 shares of the firm’s stock in a transaction on Friday, June 7th. The stock was sold at an average price of $1.16, for a total value of $25,886.56. Following the sale, the chief marketing officer now owns 1,219,657 shares of the company’s stock, valued at approximately $1,414,802.12. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders have sold 79,344 shares of company stock valued at $92,744 over the last 90 days. 19.80% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of brokerages have commented on NRGV. Chardan Capital restated a “sell” rating and issued a $0.75 target price (down previously from $7.00) on shares of Energy Vault in a research note on Monday, April 8th. TD Cowen lowered their target price on Energy Vault from $5.00 to $4.00 and set a “buy” rating on the stock in a report on Monday, May 13th. Finally, Stifel Nicolaus decreased their price objective on Energy Vault from $6.00 to $3.00 and set a “buy” rating on the stock in a report on Tuesday, April 30th. Two research analysts have rated the stock with a sell rating and four have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $2.65.

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.