Renaissance Technologies LLC Reduces Stock Holdings in Energy Vault Holdings, Inc. $NRGV

Key Points

• Renaissance Technologies cut its Energy Vault stake by 77.5% in the first quarter, selling 326,305 shares and retaining 94,495 shares worth approximately $312,000. Institutional investors collectively own 40.03% of the company.
• Energy Vault reported a quarterly loss of $0.17 per share, missing estimates by $0.03, though revenue of $17.37 million exceeded expectations. Analysts project a full-year loss of $0.56 per share.
• NRGV shares opened at $3.67, compared with a 52-week range of $1.40 to $6.64. Analyst opinions remain mixed, producing a consensus “Hold” rating and an average price target of $5.81.

Renaissance Technologies LLC trimmed its position in shares of Energy Vault Holdings, Inc. (NYSE:NRGV - Free Report) by 77.5% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 94,495 shares of the company's stock after selling 326,305 shares during the period. Renaissance Technologies LLC owned 0.05% of Energy Vault worth $312,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also bought and sold shares of the company. Forte Asset Management LLC purchased a new position in shares of Energy Vault during the 1st quarter valued at $33,000. Mercer Global Advisors Inc. ADV purchased a new stake in Energy Vault in the 3rd quarter worth about $36,000. XTX Topco Ltd purchased a new stake in Energy Vault in the 2nd quarter worth about $39,000. Banco BTG Pactual S.A. bought a new stake in Energy Vault in the 3rd quarter valued at about $43,000. Finally, Calamos Advisors LLC bought a new stake in Energy Vault in the 1st quarter valued at about $48,000. 40.03% of the stock is owned by hedge funds and other institutional investors.

Energy Vault Stock Performance

Shares of NRGV opened at $3.67 on Wednesday. The stock's 50-day simple moving average is $3.65 and its 200 day simple moving average is $3.92. The stock has a market capitalization of $653.29 million, a price-to-earnings ratio of -5.55 and a beta of 1.21. The company has a debt-to-equity ratio of 24.07, a quick ratio of 1.19 and a current ratio of 1.19. Energy Vault Holdings, Inc. has a 52-week low of $1.40 and a 52-week high of $6.64.

Energy Vault (NYSE:NRGV - Get Free Report) last posted 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 net margin of 48.58% and a negative return on equity of 236.83%. The company had revenue of $17.37 million for the quarter, compared to analysts' expectations of $14.24 million. Research analysts forecast that Energy Vault Holdings, Inc. will post -0.56 EPS for the current fiscal year.

Insider Buying and Selling

In other news, CFO Michael Thomas Beer sold 65,000 shares of the firm's 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 completion of the transaction, the chief financial officer directly owned 1,021,806 shares in the company, valued at approximately $4,168,968.48. This trade represents a 5.98% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Dylan Hixon acquired 85,518 shares of Energy Vault stock in a transaction that occurred on Friday, August 14th. The shares were purchased at an average cost of $3.74 per share, with a total value of $319,837.32. Following the purchase, the director owned 31,864 shares of the company's stock, valued at $119,171.36. This represents a -159.39% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. 17.20% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the stock. Zacks Research upgraded shares of Energy Vault from a "strong sell" rating to a "hold" rating in a research report on Monday, July 6th. Wall Street Zen lowered shares of Energy Vault from a "sell" rating to a "strong sell" rating in a research report on Saturday. Citigroup upgraded shares of Energy Vault from a "neutral" rating to a "buy" rating and dropped their price target for the company from $5.25 to $5.00 in a research note on Wednesday, July 22nd. Roth Capital reaffirmed 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. Finally, Fundamental Research set a $8.03 price objective on shares of Energy Vault and gave the company a "buy" rating in a research note on Tuesday. Four equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and two have assigned a Sell rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus price target of $5.81.

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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