Energy Vault Holdings, Inc. $NRGV Shares Sold by Invesco Ltd.

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. lessened its stake in Energy Vault Holdings, Inc. (NYSE:NRGV - Free Report) by 54.0% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,230,214 shares of the company's stock after selling 1,445,012 shares during the quarter. Invesco Ltd. owned 0.80% of Energy Vault worth $855,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Shepherd Kaplan Krochuk LLC purchased a new position in shares of Energy Vault in the 4th quarter valued at about $31,000. BNP Paribas Financial Markets purchased a new position in shares of Energy Vault in the 4th quarter valued at about $44,000. Squarepoint Ops LLC purchased a new position in shares of Energy Vault in the 4th quarter valued at about $50,000. Dimensional Fund Advisors LP increased its holdings in shares of Energy Vault by 202.8% in the 4th quarter. Dimensional Fund Advisors LP now owns 33,637 shares of the company's stock valued at $77,000 after purchasing an additional 22,528 shares in the last quarter. Finally, MetLife Investment Management LLC purchased a new position in shares of Energy Vault in the 4th quarter valued at about $86,000. Hedge funds and other institutional investors own 40.03% of the company's stock.

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen raised shares of Energy Vault from a "strong sell" rating to a "hold" rating in a research note on Thursday, May 22nd. Two investment analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price of $1.42.

Insider Transactions at Energy Vault

In related news, CEO Robert Piconi acquired 22,500 shares of the business's stock in a transaction dated Friday, August 29th. The shares were acquired at an average cost of $1.92 per share, for a total transaction of $43,200.00. Following the acquisition, the chief executive officer directly owned 20,110,026 shares in the company, valued at approximately $38,611,249.92. The trade was a 0.11% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CFO Michael Thomas Beer sold 33,897 shares of the stock in a transaction dated Friday, July 18th. The stock was sold at an average price of $0.81, for a total transaction of $27,456.57. Following the transaction, the chief financial officer owned 1,266,103 shares in the company, valued at approximately $1,025,543.43. The trade was a 2.61% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have purchased 64,900 shares of company stock worth $120,280 and have sold 66,024 shares worth $53,479. Insiders own 19.80% of the company's stock.

Energy Vault Trading Down 8.3%

NYSE:NRGV traded down $0.16 on Tuesday, reaching $1.77. The stock had a trading volume of 2,836,012 shares, compared to its average volume of 1,838,258. The company has a market cap of $286.47 million, a price-to-earnings ratio of -1.82 and a beta of 0.83. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.66 and a quick ratio of 0.66. The firm's fifty day moving average is $1.34 and its two-hundred day moving average is $1.04. Energy Vault Holdings, Inc. has a 12-month low of $0.60 and a 12-month high of $2.70.

Energy Vault (NYSE:NRGV - Get Free Report) last released its earnings results on Thursday, August 7th. The company reported ($0.22) earnings per share (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 analysts' expectations of $31.18 million. Energy Vault had a negative net margin of 279.38% and a negative return on equity of 96.64%. Energy Vault has set its FY 2025 guidance at EPS. Equities analysts expect that Energy Vault Holdings, Inc. will post -0.64 EPS for the current fiscal year.

Energy Vault Profile

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.