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Robert Piconi, the Chief Executive Officer of Energy Vault Holdings , Inc. (NYSE:NRGV), recently reported a sale of company stock. According to a recent SEC filing, Piconi sold 16,594 shares of common stock at a price of $0.7059 per share, amounting to a total transaction value of $11,713. This transaction was executed on April 4, 2025, with the stock trading near its 52-week low of $0.63 and showing a significant year-to-date decline of 66%. InvestingPro analysis suggests the stock may be undervalued at current levels.
The sale was conducted to satisfy tax liabilities associated with the vesting of restricted stock units. Following this transaction, Piconi holds 20,094,264 shares directly. In addition, he has indirect ownership of 4,307,946 shares held by the Piconi 2021 Delaware Trust and the Piconi Family 2021 Delaware Trust, for which he serves as an investment advisor. With a market capitalization of $118.6 million, InvestingPro subscribers can access 15+ additional insights and a comprehensive Pro Research Report for deeper analysis of NRGV's financial health and growth prospects.
In other recent news, Energy Vault Holdings Inc. reported a revenue shortfall for Q4 2024, with earnings revealing a larger-than-anticipated loss per share of $0.14. The company generated $33.5 million in revenue for the quarter, contributing to a full-year total of $46.2 million, which was slightly below its guidance. Despite the financial setbacks, Energy Vault expanded its revenue backlog by 90% quarter-over-quarter, reaching $660 million. The company disclosed anticipated cash inflows of $70-80 million from project financings and investment tax credits, with significant contributions expected from the Calistoga Resiliency Center in California and Cross Trails in Texas. Energy Vault's management projected achieving Adjusted EBITDA positivity by Q4 2025, considering the updated revenue range and current pricing environment for Lithium Ion batteries. Additionally, the company announced plans to focus on projects with contracted offtakers and expects margin expansion in 2025. Analyst firms have not issued recent upgrades or downgrades, but Energy Vault's financial outlook reflects its strategic initiatives and the growing demand for renewable energy solutions.
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