Legal & General Group Plc acquired a new position in Energy Vault Holdings, Inc. (NYSE:NRGV – Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 3,951,609 shares of the company’s stock, valued at approximately $18,217,000. Legal & General Group Plc owned approximately 2.36% of Energy Vault as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Creative Planning raised its position in shares of Energy Vault by 3.7% during the third quarter. Creative Planning now owns 102,139 shares of the company’s stock worth $303,000 after acquiring an additional 3,690 shares during the last quarter. Mercer Global Advisors Inc. ADV bought a new stake in shares of Energy Vault during the third quarter worth $36,000. Banco BTG Pactual S.A. bought a new stake in shares of Energy Vault during the third quarter worth $43,000. Goldman Sachs Group Inc. raised its position in shares of Energy Vault by 4.2% during the first quarter. Goldman Sachs Group Inc. now owns 398,476 shares of the company’s stock worth $277,000 after acquiring an additional 16,101 shares during the last quarter. Finally, Meridian Wealth Management LLC bought a new stake in shares of Energy Vault during the fourth quarter worth $81,000. Institutional investors and hedge funds own 40.03% of the company’s stock.
Insider Buying and Selling at Energy Vault
In other news, CFO Michael Thomas Beer sold 65,000 shares of Energy Vault stock in a transaction dated Monday, April 6th. The stock was sold at an average price of $3.18, for a total transaction of $206,700.00. Following the transaction, the chief financial officer owned 1,060,945 shares in the company, valued at $3,373,805.10. The trade was a 5.77% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 17.20% of the stock is owned by company insiders.
Energy Vault Stock Up 5.3%
Energy Vault (NYSE:NRGV – Get Free Report) last released its quarterly earnings data on Tuesday, May 5th. The company reported ($0.20) earnings per share for the quarter, missing the consensus estimate of ($0.15) by ($0.05). The firm had revenue of $21.88 million for the quarter, compared to the consensus estimate of $20.72 million. Energy Vault had a negative return on equity of 171.09% and a negative net margin of 52.97%. As a group, sell-side analysts anticipate that Energy Vault Holdings, Inc. will post -0.61 EPS for the current year.
Analyst Upgrades and Downgrades
A number of equities research analysts have recently weighed in on NRGV shares. Cantor Fitzgerald started coverage on Energy Vault in a research report on Tuesday, May 5th. They set an “overweight” rating and a $7.00 target price for the company. Fundamental Research set a $6.05 target price on Energy Vault and gave the stock a “buy” rating in a research report on Tuesday, March 24th. Weiss Ratings restated a “sell (d-)” rating on shares of Energy Vault in a research report on Wednesday, May 27th. The Goldman Sachs Group boosted their target price on Energy Vault from $1.75 to $2.00 and gave the stock a “sell” rating in a research report on Thursday, March 19th. Finally, Wall Street Zen downgraded Energy Vault from a “hold” rating to a “sell” rating in a research report on Saturday, May 23rd. Two investment analysts have rated the stock with a Buy rating and three have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Reduce” and an average target price of $5.02.
Get Our Latest Research Report on Energy Vault
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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