Legal & General Group Plc Takes $18.22 Million Position in Energy Vault Holdings, Inc. $NRGV

Legal & General Group Plc acquired a new stake in shares of Energy Vault Holdings, Inc. (NYSE:NRGV) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund acquired 3,951,609 shares of the company’s stock, valued at approximately $18,217,000.

Other institutional investors have also modified their holdings of the company. Millennium Management LLC grew its holdings in shares of Energy Vault by 141.2% during the third quarter. Millennium Management LLC now owns 5,858,734 shares of the company’s stock worth $17,400,000 after buying an additional 3,430,094 shares in the last quarter. Vanguard Group Inc. grew its holdings in shares of Energy Vault by 20.4% during the third quarter. Vanguard Group Inc. now owns 1,823,443 shares of the company’s stock worth $5,416,000 after buying an additional 308,509 shares in the last quarter. UBS Group AG grew its holdings in shares of Energy Vault by 940.1% during the fourth quarter. UBS Group AG now owns 1,541,087 shares of the company’s stock worth $7,104,000 after buying an additional 1,392,923 shares in the last quarter. Jane Street Group LLC grew its holdings 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 worth $678,000 after buying an additional 806,576 shares in the last quarter. Finally, Goldman Sachs Group Inc. grew its holdings in shares of Energy Vault by 4.2% during the first quarter. Goldman Sachs Group Inc. now owns 398,476 shares of the company’s stock worth $277,000 after buying an additional 16,101 shares in the last quarter. Institutional investors own 40.03% of the company’s stock.

Insiders Place Their Bets

In other Energy Vault news, CFO Michael Thomas Beer sold 65,000 shares of the firm’s stock in a transaction that occurred on Monday, April 6th. The stock was sold at an average price of $3.18, for a total value of $206,700.00. Following the completion of the transaction, the chief financial officer directly owned 1,060,945 shares in the company, valued at $3,373,805.10. This trade represents a 5.77% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 17.20% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of research analysts recently issued reports on NRGV shares. Weiss Ratings reiterated a “sell (d-)” rating on shares of Energy Vault in a report on Wednesday, May 27th. The Goldman Sachs Group increased their price objective on Energy Vault from $1.75 to $2.00 and gave the stock a “sell” rating in a report on Thursday, March 19th. Cantor Fitzgerald started coverage on Energy Vault in a report on Tuesday, May 5th. They set an “overweight” rating and a $7.00 price objective for the company. Fundamental Research set a $6.05 price objective on Energy Vault and gave the stock a “buy” rating in a report on Tuesday, March 24th. Finally, Zacks Research downgraded Energy Vault from a “hold” rating to a “strong sell” rating in a report on Tuesday, February 17th. Two research analysts have rated the stock with a Buy rating and three have assigned a Sell rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Reduce” and a consensus price target of $5.02.

Energy Vault Stock Up 5.3%

NRGV stock opened at $5.32 on Tuesday. The company has a quick ratio of 1.44, a current ratio of 1.44 and a debt-to-equity ratio of 4.94. The business has a 50 day moving average price of $4.22 and a two-hundred day moving average price of $4.20. The company has a market cap of $948.29 million, a price-to-earnings ratio of -7.49 and a beta of 1.15. Energy Vault Holdings, Inc. has a twelve month low of $0.65 and a twelve month high of $6.40.

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