Guggenheim downgrades Energy Vault Holdings Inc. (NRGV) rating to a Neutral


Energy Vault Holdings Inc.’s recent filing unveils that its Chief People Officer Icoren Goncagul unloaded Company’s shares for reported $23550.0 on Aug 16. In the deal valued at $3.14 per share,7,500 shares were sold. As a result of this transaction, Icoren Goncagul now holds 695,416 shares worth roughly $ 2.11 million.

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Then, Icoren Goncagul sold 7,500 shares, generating $24,225 in total proceeds. Upon selling the shares at $3.23, the Chief People Officer now owns 703,891 shares.

Before that, Icoren Goncagul sold 7,500 shares. Energy Vault Holdings Inc. shares valued at $23,625 were divested by the Chief People Officer at a price of $3.15 per share. As a result of the transaction, Icoren Goncagul now holds 711,391 shares, worth roughly $2.16 million.

Guggenheim downgraded its Energy Vault Holdings Inc. [NRGV] rating to a Neutral from a a Buy in a research note published on Friday.

Price Performance Review of NRGV

On Friday, Energy Vault Holdings Inc. [NYSE:NRGV] saw its stock jump 3.41% to $3.03. On the same session, the stock had its day’s lowest price of $2.91, but rose to a high of $3.10. Over the last five days, the stock has lost -3.50%. Energy Vault Holdings Inc. shares have fallen nearly -2.88% since the year began. Nevertheless, the stocks have fallen -42.83% over the past one year. While a 52-week high of $6.72 was reached on 01/18/23, a 52-week low of $1.35 was recorded on 04/21/23. SMA at 50 days reached $2.94, while 200 days put it at $2.90. A total of 0.53 million shares were traded, compared to the trading of 0.55 million shares in the previous session.

Levels Of Support And Resistance For NRGV Stock

The 24-hour chart illustrates a support level at 2.93, which if violated will result in even more drops to 2.82. On the upside, there is a resistance level at 3.12. A further resistance level may holdings at 3.20. The Relative Strength Index (RSI) on the 14-day chart is 49.83, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at -0.05, which suggests price will go down in the next trading period. Percent R suggests that price movement has been low at 61.25%. Stochastics %K at 37.50% indicates the stock is a holding.

How much short interest is there in Energy Vault Holdings Inc.?

A steep rise in short interest was recorded in Energy Vault Holdings Inc. stocks on Aug 14, 2023, growing by 100000.0 shares to a total of 10.53 million shares. Yahoo Finance data shows the prior-month short interest on Jul 13, 2023 was 10.43 million shares. There was a rise of 0.95%, which implies that there is a positive sentiment for the stock. In spite of short shares comprising just 10.64% of the overall stock float, the days-to-cover ratio (short ratio) rose to 11.43.

Energy Vault Holdings Inc. [NRGV] – Who Are The Largest Shareholders?

In filings from BlackRock Fund Advisors, it is revealed that the company now owns 5,756,470 shares, or roughly 4.05% of the outstanding NRGV shares. In other words, the investor’s shares have risen by 1,304,437 from its previous 13-F filing of 4452033.0. Additionally, SailingStone Capital Partners LLC increased 9.54% of its stake after which the total value it holdings stand at $15,889,402, while Invesco Capital Management LLC reduced -18.77% of its stake to hold $13.13 million in the firm. Over the last quarter, SSgA Funds Management, Inc. purchased 1,154,404 shares of Energy Vault Holdings Inc., while Geode Capital Management LLC bought 305,926 shares. At present, The Vanguard Group, Inc. is holding 1,360,139 shares valued at $4.56 million. Millennium Management LLC owned 913,635 shares of the company at the time of its most recent 13F filing, worth $3.06 million.

According to FactSet, Energy Vault Holdings Inc.’s share price will average $5.19 in the next year, based on opinions of analysts polled by the firm. This is up nearly 104.78 percent from its previous closing price of $2.93. Analysts expect Energy Vault Holdings Inc. stock to reach the higher price of $7.00, while the lowest price estimate is $1.75. However, 4 analysts have rated NRGV stock as an Overweight in their predictions for 2023.


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