Intech Investment Management LLC Purchases Shares of 50,145 Energy Vault Holdings, Inc. (NYSE:NRGV)

Intech Investment Management LLC acquired a new position in shares of Energy Vault Holdings, Inc. (NYSE:NRGV) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 50,145 shares of the company’s stock, valued at approximately $114,000.

Several other large investors also recently made changes to their positions in NRGV. Truist Financial Corp bought a new position in Energy Vault in the fourth quarter worth approximately $27,000. Barclays PLC raised its position in shares of Energy Vault by 225.2% during the third quarter. Barclays PLC now owns 143,759 shares of the company’s stock worth $137,000 after purchasing an additional 99,550 shares during the period. State Street Corp lifted its holdings in shares of Energy Vault by 1.1% in the 3rd quarter. State Street Corp now owns 1,850,702 shares of the company’s stock worth $1,777,000 after purchasing an additional 20,915 shares in the last quarter. Geode Capital Management LLC grew its position in Energy Vault by 8.5% in the 3rd quarter. Geode Capital Management LLC now owns 2,273,042 shares of the company’s stock valued at $2,182,000 after purchasing an additional 177,214 shares during the period. Finally, PFG Investments LLC acquired a new position in Energy Vault during the fourth quarter worth $42,000. 40.03% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

NRGV has been the subject of a number of analyst reports. 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 report on Thursday, March 20th. TD Cowen cut their price target on Energy Vault from $2.50 to $2.00 and set a “buy” rating for the company in a research note on Tuesday, March 18th. Finally, The Goldman Sachs Group decreased their price objective on Energy Vault from $1.00 to $0.75 and set a “sell” rating for the company in a report on Wednesday, March 19th. Two equities research analysts have rated the stock with a sell rating and three have assigned a buy rating to the company. Based on data from MarketBeat, Energy Vault presently has a consensus rating of “Hold” and an average price target of $1.60.

Energy Vault Price Performance

NRGV opened at $0.74 on Friday. Energy Vault Holdings, Inc. has a fifty-two week low of $0.71 and a fifty-two week high of $2.70. The firm has a market capitalization of $112.57 million, a P/E ratio of -1.14 and a beta of 0.45. The company’s 50-day moving average is $1.46 and its 200 day moving average is $1.55.

Energy Vault (NYSE:NRGV) last posted its earnings results on Monday, March 17th. The company reported ($0.35) EPS for the quarter, missing the consensus estimate of ($0.14) by ($0.21). The firm had revenue of $38.95 million for the quarter, compared to the consensus estimate of $42.51 million. Energy Vault had a negative return on equity of 47.41% and a negative net margin of 73.37%. On average, equities research analysts expect that Energy Vault Holdings, Inc. will post -0.64 earnings per share 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.