Legal & General Group Plc Buys New Stake in Energy Vault Holdings, Inc. $NRGV

Legal & General Group Plc acquired a new stake in Energy Vault Holdings, Inc. (NYSE:NRGV) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 5,415,800 shares of the company’s stock, valued at approximately $25,508,000. Legal & General Group Plc owned 3.04% of Energy Vault as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of NRGV. The Manufacturers Life Insurance Company purchased a new stake in Energy Vault in the 2nd quarter worth approximately $177,000. Seros Financial LLC purchased a new position in shares of Energy Vault during the 2nd quarter valued at approximately $74,000. Connor Clark & Lunn Investment Management Ltd. purchased a new position in shares of Energy Vault during the 2nd quarter valued at approximately $1,759,000. Quantbot Technologies LP acquired a new position in shares of Energy Vault in the 2nd quarter valued at $50,000. Finally, Callan Family Office LLC purchased a new stake in Energy Vault during the second quarter worth $158,000. 40.03% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

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

Analyst Upgrades and Downgrades

Several research firms recently commented on NRGV. Zacks Research upgraded shares of Energy Vault from a “strong sell” rating to a “hold” rating in a research report on Monday, July 6th. Fundamental Research set a $8.03 target price on shares of Energy Vault and gave the stock a “buy” rating in a research note on Tuesday, August 18th. Citigroup raised their target price on Energy Vault from $5.00 to $6.00 and gave the company a “buy” rating in a research report on Thursday, August 20th. Cantor Fitzgerald restated an “overweight” rating and issued a $7.00 price target on shares of Energy Vault in a research note on Wednesday, August 12th. Finally, Roth Capital reiterated a “buy” rating and set a $7.00 price target (up from $5.00) on shares of Energy Vault in a research report on Wednesday, August 12th. Four analysts have rated the stock with a Buy rating, one has issued a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $6.01.

Energy Vault Stock Down 4.3%

NRGV opened at $3.59 on Friday. The company has a market cap of $652.81 million, a PE ratio of -5.44 and a beta of 1.21. Energy Vault Holdings, Inc. has a twelve month low of $1.73 and a twelve month high of $6.64. The company has a 50-day moving average price of $3.58 and a 200 day moving average price of $3.87. The company has a quick ratio of 1.19, a current ratio of 1.19 and a debt-to-equity ratio of 24.07.

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

About Energy Vault

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.