Royal Bank of Canada boosted its holdings in shares of Energy Vault Holdings, Inc. (NYSE:NRGV – Free Report) by 306,907.9% during the first quarter, Holdings Channel.com reports. The institutional investor owned 463,582 shares of the company’s stock after buying an additional 463,431 shares during the period. Royal Bank of Canada’s holdings in Energy Vault were worth $1,529,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. SummitTX Capital L.P. acquired a new position in shares of Energy Vault in the first quarter worth $68,000. Bank of Nova Scotia raised its stake in shares of Energy Vault by 19.9% in the first quarter. Bank of Nova Scotia now owns 41,600 shares of the company’s stock valued at $137,000 after acquiring an additional 6,900 shares in the last quarter. Sei Investments Co. raised its stake in shares of Energy Vault by 41.5% in the first quarter. Sei Investments Co. now owns 188,520 shares of the company’s stock valued at $622,000 after acquiring an additional 55,303 shares in the last quarter. Walleye Capital LLC purchased a new position in Energy Vault in the first quarter valued at $58,000. Finally, State of Wyoming purchased a new position in Energy Vault in the first quarter valued at $75,000. Hedge funds and other institutional investors own 40.03% of the company’s stock.
Energy Vault Stock Performance
Shares of NRGV stock opened at $3.90 on Thursday. The company has a market cap of $694.28 million, a P/E ratio of -5.90 and a beta of 1.21. The firm has a fifty day moving average price of $3.64 and a 200 day moving average price of $3.91. The company has a current ratio of 1.19, a quick ratio of 1.19 and a debt-to-equity ratio of 24.07. Energy Vault Holdings, Inc. has a 12 month low of $1.40 and a 12 month high of $6.64.
Analyst Upgrades and Downgrades
NRGV has been the topic of several recent research reports. Weiss Ratings downgraded Energy Vault from a “sell (d-)” rating to a “sell (e+)” rating in a report on Wednesday, August 12th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $7.00 price objective on shares of Energy Vault in a research note on Wednesday, August 12th. Zacks Research raised Energy Vault from a “strong sell” rating to a “hold” rating in a research report on Monday, July 6th. Roth Capital restated a “buy” rating and set a $7.00 target price (up from $5.00) on shares of Energy Vault in a research note on Wednesday, August 12th. Finally, Citigroup raised shares of Energy Vault from a “neutral” rating to a “buy” rating and reduced their target price for the company from $5.25 to $5.00 in a report on Wednesday, July 22nd. Four analysts have rated the stock with a Buy rating, one has given a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat.com, Energy Vault presently has a consensus rating of “Hold” and a consensus price target of $5.81.
Check Out Our Latest Report on NRGV
Insider Transactions at Energy Vault
In related news, CFO Michael Thomas Beer sold 65,000 shares of the company’s stock in a transaction that occurred on Monday, July 6th. The stock was sold at an average price of $4.08, for a total value of $265,200.00. Following the completion of the transaction, the chief financial officer directly owned 1,021,806 shares of the company’s stock, valued at $4,168,968.48. This represents a 5.98% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Dylan Hixon acquired 85,518 shares of the business’s stock in a transaction on Friday, August 14th. The shares were bought at an average cost of $3.74 per share, for a total transaction of $319,837.32. Following the acquisition, the director owned 31,864 shares of the company’s stock, valued at $119,171.36. This represents a -159.39% increase in their position. The disclosure for this purchase is available in the SEC filing. Corporate insiders own 17.20% of the company’s stock.
Energy Vault Company Profile
Energy Vault is a global energy storage technology company specializing in long-duration, gravity-based energy storage solutions. Founded in 2017 and headquartered in Lugano, Switzerland, the firm has developed a modular system that uses large composite blocks and a proprietary crane system to convert excess renewable energy into gravitational potential energy. When energy demand peaks, the system lowers the blocks to generate electricity through regenerative braking, offering a dispatchable, carbon-free alternative to traditional battery storage.
The company’s flagship product line, EVx, integrates advanced materials science, software-driven controls and artificial intelligence to optimize charge and discharge cycles.
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