Renaissance Technologies LLC Lowers Position in Energy Vault Holdings, Inc. $NRGV

Renaissance Technologies LLC lessened its holdings in shares of Energy Vault Holdings, Inc. (NYSE:NRGV) by 77.5% in the first quarter, HoldingsChannel.com reports. The fund owned 94,495 shares of the company’s stock after selling 326,305 shares during the period. Renaissance Technologies LLC’s holdings in Energy Vault were worth $312,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Millennium Management LLC increased its position in shares of Energy Vault by 141.2% in the third quarter. Millennium Management LLC now owns 5,858,734 shares of the company’s stock worth $17,400,000 after purchasing an additional 3,430,094 shares during the last quarter. State Street Corp lifted its position in Energy Vault by 1,004.0% during the fourth quarter. State Street Corp now owns 5,697,735 shares of the company’s stock valued at $26,267,000 after purchasing an additional 5,181,624 shares during the last quarter. Legal & General Group Plc bought a new stake in Energy Vault during the fourth quarter valued at approximately $18,217,000. Marshall Wace LLP grew its stake in Energy Vault by 132.7% in the 4th quarter. Marshall Wace LLP now owns 3,194,205 shares of the company’s stock worth $14,725,000 after buying an additional 1,821,462 shares in the last quarter. Finally, Invesco Ltd. bought a new position in shares of Energy Vault in the 4th quarter worth $11,454,000. Hedge funds and other institutional investors own 40.03% of the company’s stock.

Energy Vault Trading Down 4.1%

NRGV stock opened at $3.67 on Wednesday. The company has a market capitalization of $653.29 million, a PE ratio of -5.55 and a beta of 1.21. Energy Vault Holdings, Inc. has a one year low of $1.40 and a one year high of $6.64. The company’s 50 day moving average price is $3.65 and its two-hundred day moving average price is $3.92. The company has a debt-to-equity ratio of 24.07, a quick ratio of 1.19 and a current ratio of 1.19.

Energy Vault (NYSE:NRGV) last announced its quarterly earnings data 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 return on equity of 236.83% and a negative net margin of 48.58%.The business had revenue of $17.37 million during the quarter, compared to the consensus estimate of $14.24 million. As a group, analysts predict that Energy Vault Holdings, Inc. will post -0.56 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, CFO Michael Thomas Beer sold 65,000 shares of the firm’s stock in a transaction dated Monday, July 6th. The stock was sold at an average price of $4.08, for a total transaction of $265,200.00. Following the transaction, the chief financial officer directly 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 sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Dylan Hixon acquired 85,518 shares of Energy Vault stock in a transaction dated 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 completion of the purchase, the director directly owned 31,864 shares of the company’s stock, valued at approximately $119,171.36. The trade was a -159.39% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. 17.20% of the stock is owned by company insiders.

Analyst Ratings Changes

Several analysts have recently weighed in on the stock. Fundamental Research set a $8.03 price objective on shares of Energy Vault and gave the company a “buy” rating in a research report on Tuesday. Weiss Ratings lowered shares of Energy Vault from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Wednesday, August 12th. Cantor Fitzgerald reissued an “overweight” rating and issued a $7.00 target price on shares of Energy Vault in a research note on Wednesday, August 12th. 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 research report on Wednesday, July 22nd. Finally, Roth Capital reaffirmed a “buy” rating and set a $7.00 price target (up from $5.00) on shares of Energy Vault in a research note on Wednesday, August 12th. Four investment analysts have rated the stock with a Buy rating, one has given a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat, Energy Vault presently has an average rating of “Hold” and a consensus price target of $5.81.

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.