Invesco Ltd. Sells 1,445,012 Shares of Energy Vault Holdings, Inc. $NRGV

Key Points

• Invesco Ltd. has reduced its stake in Energy Vault Holdings, Inc. by 54%, selling 1,445,012 shares and now owns approximately 0.80% of the company.
• Director Dylan Hixon and CEO Robert Piconi both purchased shares recently, indicating continued insider investment despite the company facing challenges, including missing earnings estimates.
• Analyst ratings have been upgraded, with the stock moving from a "strong sell" to a "hold" rating, reflecting a shift in investor sentiment towards Energy Vault Holdings Inc.

Invesco Ltd. cut its position in Energy Vault Holdings, Inc. (NYSE:NRGV - Free Report) by 54.0% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 1,230,214 shares of the company's stock after selling 1,445,012 shares during the quarter. Invesco Ltd. owned about 0.80% of Energy Vault worth $855,000 at the end of the most recent quarter.

Several other institutional investors have also made changes to their positions in the company. Private Capital Advisors Inc. grew its holdings in Energy Vault by 766.1% during the 1st quarter. Private Capital Advisors Inc. now owns 487,260 shares of the company's stock worth $339,000 after acquiring an additional 431,000 shares during the last quarter. Squarepoint Ops LLC acquired a new stake in shares of Energy Vault during the fourth quarter worth $50,000. Shepherd Kaplan Krochuk LLC acquired a new stake in shares of Energy Vault during the 4th quarter worth approximately $31,000. ProShare Advisors LLC raised its stake in Energy Vault by 199.9% during the fourth quarter. ProShare Advisors LLC now owns 58,398 shares of the company's stock worth $133,000 after acquiring an additional 38,927 shares in the last quarter. Finally, Millennium Management LLC boosted its holdings in Energy Vault by 122.5% in the fourth quarter. Millennium Management LLC now owns 1,442,399 shares of the company's stock valued at $3,289,000 after acquiring an additional 794,253 shares during the last quarter. 40.03% of the stock is owned by hedge funds and other institutional investors.

Energy Vault Price Performance

Shares of NYSE NRGV traded down $0.01 during midday trading on Friday, reaching $2.07. 1,046,529 shares of the stock traded hands, compared to its average volume of 2,014,212. The stock has a market capitalization of $334.22 million, a PE ratio of -2.13 and a beta of 0.83. The company's 50 day moving average is $1.29 and its 200 day moving average is $1.04. Energy Vault Holdings, Inc. has a one year low of $0.60 and a one year high of $2.69. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.66 and a quick ratio of 0.66.

Energy Vault (NYSE:NRGV - Get Free Report) last announced its earnings results on Thursday, August 7th. The company reported ($0.22) EPS for the quarter, missing analysts' consensus estimates of ($0.07) by ($0.15). The firm had revenue of $8.51 million during the quarter, compared to the consensus estimate of $31.18 million. Energy Vault had a negative return on equity of 96.64% and a negative net margin of 279.38%. Energy Vault has set its FY 2025 guidance at EPS. On average, equities research analysts anticipate that Energy Vault Holdings, Inc. will post -0.64 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen raised Energy Vault from a "strong sell" rating to a "hold" rating in a research report on Thursday, May 22nd. Two equities research analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Hold" and a consensus price target of $1.42.

Insider Buying and Selling at Energy Vault

In other news, CFO Michael Thomas Beer sold 33,897 shares of the company's stock in a transaction dated Friday, July 18th. The stock was sold at an average price of $0.81, for a total value of $27,456.57. Following the completion of the sale, the chief financial officer owned 1,266,103 shares of the company's stock, valued at $1,025,543.43. This represents a 2.61% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Dylan Hixon purchased 20,000 shares of the company's stock in a transaction dated Friday, August 29th. The shares were bought at an average price of $1.92 per share, for a total transaction of $38,400.00. Following the completion of the transaction, the director directly owned 900,065 shares in the company, valued at approximately $1,728,124.80. This trade represents a 2.27% increase in their position. The disclosure for this purchase can be found here. In the last ninety days, insiders have purchased 64,900 shares of company stock worth $120,280 and have sold 66,024 shares worth $53,479. Company insiders own 15.40% of the company's stock.

About Energy Vault

Energy Vault Holdings, Inc develops and sells energy storage solutions. The company offers B-Vault, an electrochemical battery energy storage systems for shorter-duration energy storage needs; G-Vault, a proprietary gravity energy storage solution, including EVx solution; and H-Vault, a hybrid energy storage systems including systems that integrate green hydrogen.