Tidal Investments LLC Has $3.24 Million Stake in Energy Vault Holdings, Inc. $NRGV

Tidal Investments LLC increased its position in shares of Energy Vault Holdings, Inc. (NYSE:NRGV) by 105.9% during the second quarter, HoldingsChannel reports. The fund owned 688,592 shares of the company’s stock after buying an additional 354,220 shares during the quarter. Tidal Investments LLC’s holdings in Energy Vault were worth $3,243,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. SailingStone Capital Partners LLC boosted its stake in shares of Energy Vault by 0.5% during the second quarter. SailingStone Capital Partners LLC now owns 4,469,075 shares of the company’s stock valued at $21,049,000 after purchasing an additional 24,058 shares in the last quarter. Arizona State Retirement System increased its stake in shares of Energy Vault by 37.6% in the second quarter. Arizona State Retirement System now owns 33,637 shares of the company’s stock valued at $158,000 after buying an additional 9,186 shares during the period. Amundi acquired a new position in shares of Energy Vault in the second quarter valued at approximately $827,000. California State Teachers Retirement System bought a new position in Energy Vault in the 2nd quarter valued at approximately $3,037,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in Energy Vault by 548.9% in the 2nd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 177,171 shares of the company’s stock valued at $834,000 after buying an additional 149,866 shares during the last quarter. Institutional investors and hedge funds own 40.03% of the company’s stock.

Energy Vault Stock Down 5.0%

Shares of NYSE:NRGV opened at $4.09 on Tuesday. Energy Vault Holdings, Inc. has a 1 year low of $2.11 and a 1 year high of $6.64. The company has a debt-to-equity ratio of 24.07, a current ratio of 1.19 and a quick ratio of 1.19. The business’s 50-day moving average is $3.50 and its 200-day moving average is $3.92. The company has a market capitalization of $744.63 million, a price-to-earnings ratio of -6.20 and a beta of 1.24.

Energy Vault (NYSE:NRGV) last issued its earnings results 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. Equities research analysts predict that Energy Vault Holdings, Inc. will post -0.56 earnings per share for the current year.

Analyst Ratings Changes

A number of equities research analysts have weighed in on NRGV shares. Zacks Research raised shares of Energy Vault from a “strong sell” rating to a “hold” rating in a report on Monday, July 6th. Weiss Ratings downgraded shares of Energy Vault from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Wednesday, August 12th. Fundamental Research set a $8.03 price target on shares of Energy Vault and gave the stock a “buy” rating in a report on Tuesday, August 18th. Citigroup boosted their price objective on shares of Energy Vault from $5.00 to $6.00 and gave the stock a “buy” rating in a research note on Thursday, August 20th. Finally, Roth Capital restated a “buy” rating and issued a $7.00 price objective (up from $5.00) on shares of Energy Vault in a report on Wednesday, August 12th. Four analysts have rated the stock with a Buy rating, one has issued a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, Energy Vault presently has an average rating of “Hold” and an average target price of $6.01.

Insider Transactions at Energy Vault

In related news, Director Dylan Hixon purchased 27,472 shares of Energy Vault stock in a transaction on Monday, August 17th. The stock was acquired at an average cost of $3.88 per share, for a total transaction of $106,591.36. Following the completion of the acquisition, the director owned 27,472 shares of the company’s stock, valued at $106,591.36. This trade represents a ∞ increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Stephanie Unwin sold 115,000 shares of Energy Vault stock in a transaction on Wednesday, August 26th. The shares were sold at an average price of $3.71, for a total transaction of $426,650.00. Following the completion of the sale, the director directly owned 182,245 shares of the company’s stock, valued at approximately $676,128.95. This trade represents a 38.69% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 17.20% of the company’s stock.

Energy Vault Profile

Energy Vault Holdings, Inc develops and deploys energy-storage systems designed to help stabilize electric grids and integrate renewable power. The company’s technologies are intended to store electricity for later use, addressing the intermittent nature of sources such as wind and solar.

Its product portfolio includes gravity-based storage systems, including the EVx platform, which uses mechanical lifting and lowering of heavy composite blocks to store and release energy. Energy Vault also offers battery energy-storage systems, hybrid storage solutions, and VaultOS, a software platform designed to manage and optimize energy-storage assets.

Founded in 2017, Energy Vault became a publicly traded company in 2022 through a business combination with Novus Capital Corporation III.