Legal & General Group Plc Takes $25.51 Million Position in Energy Vault Holdings, Inc. $NRGV

Legal & General Group Plc acquired a new position in shares of Energy Vault Holdings, Inc. (NYSE:NRGV) during the second quarter, HoldingsChannel.com reports. The firm acquired 5,415,800 shares of the company’s stock, valued at approximately $25,508,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Forte Asset Management LLC acquired a new stake in shares of Energy Vault in the 1st quarter worth $33,000. Quantbot Technologies LP acquired a new position in shares of Energy Vault during the 2nd quarter valued at about $50,000. Kovack Advisors Inc. acquired a new position in shares of Energy Vault during the 4th quarter valued at about $49,000. Hsbc Holdings PLC purchased a new stake in shares of Energy Vault in the fourth quarter valued at about $53,000. Finally, Mercer Global Advisors Inc. ADV purchased a new stake in shares of Energy Vault in the third quarter valued at about $36,000. Institutional investors and hedge funds own 40.03% of the company’s stock.

Energy Vault Trading Down 4.3%

Shares of NRGV stock opened at $3.59 on Friday. The company has a debt-to-equity ratio of 24.07, a current ratio of 1.19 and a quick ratio of 1.19. The firm has a market cap of $652.81 million, a PE ratio of -5.44 and a beta of 1.21. The company has a 50-day moving average of $3.58 and a two-hundred day moving average of $3.87. Energy Vault Holdings, Inc. has a 1-year low of $1.73 and a 1-year high of $6.64.

Energy Vault (NYSE:NRGV) last announced its quarterly earnings results on Tuesday, August 11th. The company reported ($0.17) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.14) by ($0.03). Energy Vault had a negative net margin of 48.58% and a negative return on equity of 236.83%. The company had revenue of $17.37 million for the quarter, compared to analyst estimates of $14.24 million. On average, analysts predict that Energy Vault Holdings, Inc. will post -0.56 EPS for the current year.

Wall Street Analyst Weigh In

A number of brokerages have commented on NRGV. Roth Capital reaffirmed 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. Wall Street Zen downgraded shares of Energy Vault from a “sell” rating to a “strong sell” rating in a report on Saturday, August 15th. Citigroup lifted their price target on shares of Energy Vault from $5.00 to $6.00 and gave the company a “buy” rating in a research report on Thursday, August 20th. Zacks Research upgraded Energy Vault from a “strong sell” rating to a “hold” rating in a report on Monday, July 6th. Finally, Fundamental Research set a $8.03 price objective on Energy Vault and gave the stock a “buy” rating in a research report on Tuesday, August 18th. Four research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $6.01.

Insider Buying and Selling at Energy Vault

In other news, Director Dylan Hixon purchased 27,472 shares of the firm’s stock in a transaction on Monday, August 17th. The shares were bought at an average cost of $3.88 per share, for a total transaction of $106,591.36. Following the completion of the purchase, the director directly owned 27,472 shares of the company’s stock, valued at approximately $106,591.36. This trade represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Stephanie Unwin sold 115,000 shares of the firm’s stock in a transaction on Wednesday, August 26th. The stock was sold at an average price of $3.71, for a total value of $426,650.00. Following the transaction, the director owned 182,245 shares of the company’s stock, valued at approximately $676,128.95. This represents a 38.69% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 17.20% of the stock is owned by corporate insiders.

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.