Bank of New York Mellon Corp Buys New Shares in Energy Vault Holdings, Inc. $NRGV

Bank of New York Mellon Corp purchased a new stake in Energy Vault Holdings, Inc. (NYSE:NRGV - Free Report) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 315,422 shares of the company's stock, valued at approximately $1,486,000. Bank of New York Mellon Corp owned 0.18% of Energy Vault at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Millennium Management LLC raised its position 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 valued at $17,400,000 after buying an additional 3,430,094 shares during the last quarter. State Street Corp raised its holdings in Energy Vault by 1,004.0% in the 4th quarter. State Street Corp now owns 5,697,735 shares of the company's stock valued at $26,267,000 after acquiring an additional 5,181,624 shares in the last quarter. Legal & General Group Plc acquired a new position in Energy Vault in the 4th quarter valued at approximately $18,217,000. Marshall Wace LLP lifted its position in shares of 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 acquiring an additional 1,821,462 shares during the period. Finally, Invesco Ltd. acquired a new stake in shares of Energy Vault during the 4th quarter worth approximately $11,454,000. 40.03% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Energy Vault news, Director Dylan Hixon purchased 27,472 shares of the stock in a transaction dated Monday, August 17th. The stock was bought at an average price of $3.88 per share, for a total transaction of $106,591.36. Following the transaction, the director directly owned 27,472 shares in the company, valued at $106,591.36. This represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Michael Beer sold 65,000 shares of the business's stock in a transaction that occurred on Monday, July 6th. The stock was sold at an average price of $4.08, for a total transaction of $265,200.00. Following the sale, 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. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 17.20% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the company. Wall Street Zen cut Energy Vault from a "sell" rating to a "strong sell" rating in a research report on Saturday, August 15th. Zacks Research raised Energy Vault from a "strong sell" rating to a "hold" rating in a research report on Monday, July 6th. Cantor Fitzgerald reiterated an "overweight" rating and set a $7.00 price target on shares of Energy Vault in a research note on Wednesday, August 12th. 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. Finally, Citigroup increased their price objective on shares of Energy Vault from $5.00 to $6.00 and gave the company a "buy" rating in a research note on Thursday, August 20th. Four 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 stock. Based on data from MarketBeat, Energy Vault presently has a consensus rating of "Hold" and a consensus target price of $6.01.

Energy Vault Trading Down 0.3%

Shares of Energy Vault stock opened at $4.30 on Thursday. Energy Vault Holdings, Inc. has a 12-month low of $1.78 and a 12-month high of $6.64. The stock has a market capitalization of $782.82 million, a P/E ratio of -6.52 and a beta of 1.24. The company has a 50-day simple moving average of $3.50 and a 200 day simple moving average of $3.89. 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 (NYSE:NRGV - Get Free Report) last released its quarterly earnings results on Tuesday, August 11th. The company reported ($0.17) EPS for the quarter, missing analysts' consensus estimates of ($0.14) by ($0.03). Energy Vault had a negative net margin of 48.58% and a negative return on equity of 236.83%. The firm had revenue of $17.37 million during the quarter, compared to analyst estimates of $14.24 million. Research analysts expect that Energy Vault Holdings, Inc. will post -0.56 earnings per share for the current fiscal year.

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.

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