Energy Vault (NYSE:NRGV) Major Shareholder Sells $16,950,000.00 in Stock

Energy Vault Holdings, Inc. (NYSE:NRGV) major shareholder Vision Fund (Aiv M2) Softbank sold 3,000,000 shares of the business’s stock in a transaction on Thursday, January 15th. The shares were sold at an average price of $5.65, for a total transaction of $16,950,000.00. Following the transaction, the insider owned 15,535,631 shares of the company’s stock, valued at $87,776,315.15. This trade represents a 16.19% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Major shareholders that own at least 10% of a company’s shares are required to disclose their sales and purchases with the SEC.

Energy Vault Trading Up 2.4%

Shares of NRGV stock opened at $5.64 on Friday. The company has a debt-to-equity ratio of 0.39, a quick ratio of 0.59 and a current ratio of 0.63. Energy Vault Holdings, Inc. has a 52-week low of $0.60 and a 52-week high of $6.35. The company has a market capitalization of $946.34 million, a PE ratio of -5.94 and a beta of 0.91. The business’s fifty day moving average is $4.57 and its 200 day moving average is $3.09.

Energy Vault (NYSE:NRGV) last posted its earnings results on Monday, November 10th. The company reported ($0.16) EPS for the quarter, missing the consensus estimate of ($0.10) by ($0.06). Energy Vault had a negative return on equity of 119.98% and a negative net margin of 172.61%.The business had revenue of $33.32 million for the quarter, compared to analysts’ expectations of $48.99 million. On average, equities research analysts anticipate that Energy Vault Holdings, Inc. will post -0.64 EPS for the current fiscal year.

Institutional Investors Weigh In On Energy Vault

Institutional investors have recently made changes to their positions in the business. Millennium Management LLC grew its holdings in shares of Energy Vault by 141.2% during the 3rd quarter. Millennium Management LLC now owns 5,858,734 shares of the company’s stock valued at $17,400,000 after purchasing an additional 3,430,094 shares during the last quarter. Vanguard Group Inc. boosted its position in Energy Vault by 20.4% during the third quarter. Vanguard Group Inc. now owns 1,823,443 shares of the company’s stock valued at $5,416,000 after buying an additional 308,509 shares during the period. Jane Street Group LLC grew its stake in shares of Energy Vault by 579.7% during the second quarter. Jane Street Group LLC now owns 945,705 shares of the company’s stock valued at $678,000 after buying an additional 806,576 shares during the last quarter. Private Capital Advisors Inc. increased its holdings in shares of Energy Vault by 41.0% in the second quarter. Private Capital Advisors Inc. now owns 687,260 shares of the company’s stock worth $493,000 after buying an additional 200,000 shares during the period. Finally, Goldman Sachs Group Inc. lifted its stake in shares of Energy Vault by 4.2% in the 1st quarter. Goldman Sachs Group Inc. now owns 398,476 shares of the company’s stock valued at $277,000 after acquiring an additional 16,101 shares during the last quarter. Hedge funds and other institutional investors own 40.03% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the stock. Zacks Research upgraded shares of Energy Vault from a “strong sell” rating to a “hold” rating in a research report on Monday, January 5th. The Goldman Sachs Group raised their price objective on shares of Energy Vault from $1.50 to $2.00 and gave the company a “sell” rating in a research report on Wednesday, November 12th. Weiss Ratings reiterated a “sell (e+)” rating on shares of Energy Vault in a research report on Friday, January 9th. Finally, Fundamental Research set a $5.19 target price on Energy Vault and gave the company a “buy” rating in a research note on Tuesday, November 18th. Three research 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. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $2.67.

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.