SB Investment Advisers UK Ltd. Sells 3,000,000 Shares of Energy Vault Holdings, Inc. $NRGV

SB Investment Advisers UK Ltd. lessened its position in Energy Vault Holdings, Inc. (NYSE:NRGV) by 16.2% in the 1st quarter, Holdings Channel reports. The fund owned 15,535,631 shares of the company’s stock after selling 3,000,000 shares during the period. Energy Vault makes up approximately 0.7% of SB Investment Advisers UK Ltd.’s investment portfolio, making the stock its 8th biggest holding. SB Investment Advisers UK Ltd. owned 0.09% of Energy Vault worth $51,268,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in NRGV. Forte Asset Management LLC purchased a new position in Energy Vault during the 1st quarter worth approximately $33,000. Mercer Global Advisors Inc. ADV acquired a new stake in Energy Vault during the 3rd quarter valued at $36,000. XTX Topco Ltd acquired a new stake in Energy Vault during the 2nd quarter valued at $39,000. Banco BTG Pactual S.A. purchased a new stake in shares of Energy Vault in the third quarter valued at $43,000. Finally, Calamos Advisors LLC purchased a new stake in shares of Energy Vault in the first quarter valued at $48,000. Institutional investors and hedge funds own 40.03% of the company’s stock.

Insider Transactions at Energy Vault

In related news, CFO Michael Thomas Beer sold 65,000 shares of Energy Vault stock in a transaction on Monday, July 6th. The stock was sold at an average price of $4.08, for a total transaction of $265,200.00. Following the completion of the sale, the chief financial officer owned 1,021,806 shares of the company’s stock, valued at approximately $4,168,968.48. This trade represents a 5.98% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 17.20% of the company’s stock.

Energy Vault Stock Down 5.6%

NRGV stock opened at $2.77 on Wednesday. The company has a 50 day moving average of $4.25 and a two-hundred day moving average of $4.15. The company has a market cap of $492.86 million, a price-to-earnings ratio of -3.89 and a beta of 1.17. Energy Vault Holdings, Inc. has a 12-month low of $1.02 and a 12-month high of $6.64. The company has a quick ratio of 1.44, a current ratio of 1.44 and a debt-to-equity ratio of 4.94.

Energy Vault (NYSE:NRGV) last posted its quarterly earnings results on Tuesday, May 5th. The company reported ($0.20) EPS for the quarter, missing the consensus estimate of ($0.15) by ($0.05). Energy Vault had a negative net margin of 52.97% and a negative return on equity of 171.09%. The company had revenue of $21.88 million for the quarter, compared to analysts’ expectations of $20.72 million. On average, equities analysts anticipate that Energy Vault Holdings, Inc. will post -0.61 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

NRGV has been the topic of a number of research analyst reports. Citigroup upgraded Energy Vault from a “neutral” rating to a “buy” rating and lowered their price target for the company from $5.25 to $5.00 in a report on Wednesday, July 22nd. Weiss Ratings reissued a “sell (d-)” rating on shares of Energy Vault in a research note on Wednesday, May 27th. Wall Street Zen lowered Energy Vault from a “hold” rating to a “sell” rating in a research report on Saturday, May 23rd. Cantor Fitzgerald started coverage on Energy Vault in a research note on Tuesday, May 5th. They set an “overweight” rating and a $7.00 target price on the stock. Finally, Zacks Research raised Energy Vault from a “strong sell” rating to a “hold” rating in a research note on Monday, July 6th. Three analysts have rated the stock with a Buy rating, one has given a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $5.01.

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.