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WESTLAKE VILLAGE, CA—Energy Vault Holdings, Inc. (NYSE:NRGV), a renewable energy storage company with a market capitalization of $115.4 million, recently reported that its Chief Engineering Officer, Akshay Ladwa, executed a stock sale on April 29, 2025. The transaction comes as the company’s shares trade near their 52-week low of $0.60, having declined about 66% over the past six months. Ladwa sold 57,033 shares of common stock at an average price of $0.709 per share, totaling approximately $40,436. Following this transaction, Ladwa retains ownership of 2,213,618 shares in the company.
The sale was conducted to satisfy tax liabilities related to the vesting of restricted stock units, as noted in the filing.
In other recent news, Energy Vault Holdings Inc. has reported a revenue shortfall for Q4 2024, with earnings of $33.5 million, slightly below expectations, and a larger-than-expected loss per share of $0.14. Despite these financial challenges, the company expanded its revenue backlog by 90% quarter-over-quarter, reaching $660 million. Energy Vault anticipates 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. Additionally, the company has appointed Dylan Hixon to its Board of Directors, replacing co-founder Bill Gross, who will transition to an advisory role. Energy Vault is also addressing a non-compliance notice from the NYSE due to its stock price falling below the minimum required threshold. The company has six months to resolve this issue and plans to inform the NYSE of its strategy by May 1, 2025. Analysts have noted the company’s focus on long-duration energy storage solutions, with Energy Vault projecting Adjusted EBITDA positivity by Q4 2025.
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