GSA Capital Partners LLP Makes New Investment in Energy Vault Holdings, Inc. $NRGV

GSA Capital Partners LLP purchased a new stake in shares of Energy Vault Holdings, Inc. (NYSE:NRGV) in the second quarter, according to its most recent 13F filing with the SEC. The fund purchased 179,047 shares of the company’s stock, valued at approximately $843,000. GSA Capital Partners LLP owned approximately 0.10% of Energy Vault at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Bank of Nova Scotia grew its position in Energy Vault by 19.9% in the first quarter. Bank of Nova Scotia now owns 41,600 shares of the company’s stock worth $137,000 after acquiring an additional 6,900 shares in the last quarter. Forte Asset Management LLC purchased a new position in Energy Vault in the first quarter worth $33,000. Calamos Advisors LLC purchased a new stake in Energy Vault during the first quarter valued at about $48,000. Miller Howard Investments Inc. NY purchased a new stake in Energy Vault during the first quarter valued at about $51,000. Finally, Meridian Wealth Management LLC purchased a new stake in Energy Vault during the fourth quarter valued at about $81,000. 40.03% of the stock is currently owned by hedge funds and other institutional investors.

Energy Vault Stock Performance

Shares of NRGV stock traded down $0.17 during trading hours on Monday, hitting $3.78. The company’s stock had a trading volume of 684,267 shares, compared to its average volume of 4,493,698. The company has a 50 day moving average of $3.76 and a 200 day moving average of $4.02. The stock has a market cap of $686.45 million, a PE ratio of -5.73 and a beta of 1.25. The company has a current ratio of 1.19, a quick ratio of 1.19 and a debt-to-equity ratio of 24.07. Energy Vault Holdings, Inc. has a 12-month low of $2.50 and a 12-month high of $6.64.

Energy Vault (NYSE:NRGV) last released its quarterly earnings data on Tuesday, August 11th. The company reported ($0.17) EPS for the quarter, missing the consensus estimate of ($0.14) by ($0.03). The business had revenue of $17.37 million during the quarter, compared to analysts’ expectations of $14.24 million. Energy Vault had a negative net margin of 48.58% and a negative return on equity of 236.83%. On average, sell-side analysts forecast that Energy Vault Holdings, Inc. will post -0.56 EPS for the current fiscal year.

Analyst Ratings Changes

Several equities analysts have recently commented on the stock. Wall Street Zen downgraded shares of Energy Vault from a “sell” rating to a “strong sell” rating in a research note on Saturday, August 15th. Citigroup increased their price target on shares of Energy Vault from $5.00 to $6.00 and gave the stock a “buy” rating in a research note on Thursday, August 20th. Weiss Ratings downgraded shares of Energy Vault from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Wednesday, August 12th. Zacks Research raised shares of Energy Vault from a “strong sell” rating to a “hold” rating in a research note on Monday, July 6th. Finally, Roth Capital reissued a “buy” rating and issued a $7.00 price target (up from $5.00) on shares of Energy Vault in a research note on Wednesday, August 12th. Four investment analysts have rated the stock with a Buy rating, one has given a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $6.01.

Insiders Place Their Bets

In other news, Director Stephanie Unwin sold 115,000 shares of the stock in a transaction dated Wednesday, August 26th. The shares were sold at an average price of $3.71, for a total value of $426,650.00. Following the completion of the sale, the director directly owned 182,245 shares in the company, valued at $676,128.95. This represents a 38.69% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Dylan Hixon purchased 85,518 shares of the firm’s stock in a transaction dated Friday, August 14th. The stock was acquired at an average cost of $3.74 per share, for a total transaction of $319,837.32. Following the completion of the purchase, the director owned 1,103,185 shares of the company’s stock, valued at approximately $4,125,911.90. This represents a 8.40% increase in their position. The SEC filing for this purchase provides additional information. Corporate insiders own 17.20% of the company’s stock.

Energy Vault Profile

Energy Vault Holdings, Inc (NYSE: NRGV) develops and deploys long-duration energy storage systems designed to help utilities, renewable energy developers and industrial customers store electricity and improve grid reliability. Its solutions are intended to complement intermittent renewable power sources such as wind and solar by storing energy when supply is abundant and releasing it when demand is higher.

The company’s portfolio includes gravity-based energy storage systems, which use mechanical structures and heavy materials to store and release energy, as well as battery energy storage solutions.