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WESTLAKE VILLAGE, CA—Christopher Wiese, Chief Operating Officer of Energy Vault Holdings , Inc. (NYSE:NRGV), recently sold shares of the company, according to a filing with the Securities and Exchange Commission. The transaction comes as the stock trades near its 52-week low of $0.63, having declined 66% year-to-date. According to InvestingPro analysis, the stock appears undervalued at its current market cap of $119 million. On April 4, Wiese sold 20,530 shares of common stock at an average price of $0.7059 per share, totaling approximately $14,492.
This transaction reduced Wiese's direct ownership to 1,194,131 shares following the sale. The shares were sold to cover tax liabilities related to the vesting of restricted stock units, as noted in the filing.
In other recent news, Energy Vault Holdings Inc. reported a revenue shortfall in its Q4 2024 earnings, generating $33.5 million for the quarter, which contributed to a full-year total of $46.2 million. This was below the company's guidance and impacted investor sentiment. Additionally, Energy Vault reported 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 also anticipates cash inflows of $70-80 million from project financings and investment tax credits, with significant contributions expected from projects in California and Texas. The company projects achieving Adjusted EBITDA positivity by Q4 2025, influenced by owning project assets and current lithium-ion battery pricing. In terms of future expectations, the company has set a revenue guidance range of $200 million to $300 million for 2025. Analyst firms have noted these developments, though no upgrades or downgrades were specifically mentioned.
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