373,491 Shares in Energy Vault Holdings, Inc. $NRGV Bought by Connor Clark & Lunn Investment Management Ltd.

Key Points

• Connor Clark & Lunn Investment Management acquired 373,491 Energy Vault shares worth approximately $1.76 million, giving it a 0.21% stake. Institutional investors collectively own 40.03% of the company.
• Energy Vault insiders sold shares: Director Stephanie Unwin sold 115,000 shares for $426,650, while CFO Michael Thomas Beer sold 65,000 shares for $265,200. Company insiders retain a 17.20% ownership stake.
• Analyst sentiment is mixed, with an average “Hold” rating and a $6.01 target price. Energy Vault reported quarterly revenue of $17.37 million but missed earnings estimates, posting a loss of $0.17 per share versus expectations of $0.14.

Connor Clark & Lunn Investment Management Ltd. bought a new stake in shares of Energy Vault Holdings, Inc. (NYSE:NRGV - Free Report) in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 373,491 shares of the company's stock, valued at approximately $1,759,000. Connor Clark & Lunn Investment Management Ltd. owned 0.21% of Energy Vault at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in the business. Creative Planning grew its position in Energy Vault by 3.7% during the 3rd quarter. Creative Planning now owns 102,139 shares of the company's stock worth $303,000 after purchasing an additional 3,690 shares during the period. Osaic Holdings Inc. boosted its stake in shares of Energy Vault by 12.4% in the fourth quarter. Osaic Holdings Inc. now owns 44,547 shares of the company's stock worth $205,000 after buying an additional 4,897 shares during the last quarter. Bank of Nova Scotia boosted its stake in shares of Energy Vault by 19.9% in the first quarter. Bank of Nova Scotia now owns 41,600 shares of the company's stock worth $137,000 after buying an additional 6,900 shares during the last quarter. Charles Schwab Investment Management Inc. grew its holdings in Energy Vault by 1.2% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 668,703 shares of the company's stock worth $3,083,000 after acquiring an additional 7,742 shares during the period. Finally, Mercer Global Advisors Inc. ADV grew its holdings in Energy Vault by 70.0% during the fourth quarter. Mercer Global Advisors Inc. ADV now owns 20,808 shares of the company's stock worth $96,000 after acquiring an additional 8,570 shares during the period. 40.03% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, Director Stephanie Unwin sold 115,000 shares of the company's stock in a transaction that occurred on Wednesday, August 26th. The stock was sold at an average price of $3.71, for a total transaction of $426,650.00. Following the completion of the transaction, the director directly owned 182,245 shares of the company's stock, valued at $676,128.95. This represents a 38.69% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CFO Michael Thomas Beer sold 65,000 shares of the stock in a transaction that occurred on Monday, July 6th. The shares were sold at an average price of $4.08, for a total value of $265,200.00. Following the transaction, the chief financial officer owned 1,021,806 shares in the company, valued at $4,168,968.48. This trade represents a 5.98% decrease in their position. The disclosure for this sale is available in the SEC filing. Company insiders own 17.20% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on NRGV shares. Roth Capital reissued a "buy" rating and issued a $7.00 price target (up from $5.00) on shares of Energy Vault in a report on Wednesday, August 12th. Cantor Fitzgerald reaffirmed an "overweight" rating and set a $7.00 price objective on shares of Energy Vault in a research note on Wednesday, August 12th. Citigroup lifted their target price on shares of Energy Vault from $5.00 to $6.00 and gave the company a "buy" rating in a report on Thursday, August 20th. Weiss Ratings cut shares of Energy Vault from a "sell (d-)" rating to a "sell (e+)" rating in a research note on Wednesday, August 12th. Finally, Fundamental Research set a $8.03 target price on shares of Energy Vault and gave the company a "buy" rating in a research note on Tuesday, August 18th. Four research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Hold" and an average target price of $6.01.

Energy Vault Price Performance

NYSE:NRGV opened at $3.59 on Friday. 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 Holdings, Inc. has a 52 week low of $1.73 and a 52 week high of $6.64. The stock's 50-day moving average price is $3.58 and its 200-day moving average price is $3.87. The stock has a market capitalization of $652.81 million, a PE ratio of -5.44 and a beta of 1.21.

Energy Vault (NYSE:NRGV - Get Free Report) last released its quarterly 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). The business had revenue of $17.37 million during the quarter, compared to analyst estimates of $14.24 million. Energy Vault had a negative return on equity of 236.83% and a negative net margin of 48.58%. As a group, equities analysts expect that Energy Vault Holdings, Inc. will post -0.56 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.

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