Robert Piconi, a director at Energy Vault Holdings, Inc. (NASDAQ: NRGV), purchased 12,500 shares of the company’s common stock in a single transaction, according to a Form 4 filing with the Securities and Exchange Commission. The trade was executed on March 31, 2026, at a per-share price of $3.2096, totaling $40,120.
The purchase occurred while the stock was trading around $3.22, following a 10% decline over the prior week. Over a longer horizon, shares have risen 274% in the past year.
After the transaction, Piconi is reported to directly own 16,921,594 shares of Energy Vault common stock.
Company performance and strategic moves
Energy Vault reported fourth-quarter 2025 results that exceeded analyst expectations. The company posted earnings per share of $0.02, compared with an anticipated -$0.0033, representing a reported surprise of 706.06%. Revenue for the quarter reached $153.3 million versus an expected $137.73 million, an increase of 11.3% over the forecasted figure.
In conjunction with its results, Energy Vault announced the acquisition of the McMurtre Battery Energy Storage System, a 175 MW project located near Dallas, Texas. The project was purchased from Belltown Power and is slated to be added to Energy Vault’s Asset Vault investment platform once it attains Ready-to-Build status. The company has described this transaction as part of its broader plan to deploy 1,500 MW of battery energy storage capacity.
Financial health and analyst tools
InvestingPro indicates that Energy Vault currently carries a "WEAK" financial health score, even as the service anticipates sales growth for the year and offers 10 additional ProTips for NRGV.
Context and takeaway
The Form 4 filing documents an insider purchase at modest scale relative to total reported insider holdings. The timing follows a short-term pullback in the share price and comes on the heels of a quarter in which the company reported both an earnings and revenue beat and disclosed a significant project acquisition intended for its Asset Vault platform.
Details on the McMurtre project’s path to Ready-to-Build status, and on how it will be integrated operationally or financially into the Asset Vault platform, were limited to the company’s announcement that the project will be added once that status is achieved.