Royal Bank of Canada Increases Holdings in Energy Vault Holdings, Inc. $NRGV

Key Points

• Royal Bank of Canada increased its Energy Vault stake by 306,907.9% in the first quarter, acquiring 463,431 additional shares for a total position worth approximately $1.53 million. Institutional investors collectively own 40.03% of the company.
• Analyst sentiment remains mixed: four analysts rate the stock a Buy, one a Hold and two a Sell. The consensus rating is Hold, with an average price target of $5.81.
• Energy Vault reported quarterly revenue of $17.37 million, above estimates, but its adjusted loss of $0.17 per share missed expectations. The company continues to post weak profitability, including a negative net margin of 48.58%.

Royal Bank of Canada boosted its stake in shares of Energy Vault Holdings, Inc. (NYSE:NRGV - Free Report) by 306,907.9% during the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 463,582 shares of the company's stock after buying an additional 463,431 shares during the period. Royal Bank of Canada owned 0.27% of Energy Vault worth $1,529,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in the stock. SummitTX Capital L.P. purchased a new position in shares of Energy Vault during the 1st quarter worth $68,000. Bank of Nova Scotia grew its holdings 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 valued at $137,000 after purchasing an additional 6,900 shares during the period. Sei Investments Co. increased its position in Energy Vault by 41.5% during the first quarter. Sei Investments Co. now owns 188,520 shares of the company's stock worth $622,000 after purchasing an additional 55,303 shares during the last quarter. Walleye Capital LLC acquired a new stake in Energy Vault during the first quarter worth about $58,000. Finally, State of Wyoming purchased a new position in Energy Vault during the first quarter worth about $75,000. 40.03% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the stock. Zacks Research raised shares of Energy Vault from a "strong sell" rating to a "hold" rating in a research note on Monday, July 6th. Roth Capital reaffirmed a "buy" rating and set a $7.00 price target (up from $5.00) on shares of Energy Vault in a research report on Wednesday, August 12th. Citigroup upgraded Energy Vault from a "neutral" rating to a "buy" rating and decreased their price objective for the company from $5.25 to $5.00 in a report on Wednesday, July 22nd. Fundamental Research set a $8.03 target price on Energy Vault and gave the stock a "buy" rating in a research note on Tuesday. Finally, Wall Street Zen downgraded Energy Vault from a "sell" rating to a "strong sell" rating in a research report on Saturday, August 15th. Four equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and two have given a Sell rating to the company. According to MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price of $5.81.

Energy Vault Price Performance

Shares of NRGV opened at $3.90 on Thursday. Energy Vault Holdings, Inc. has a 1-year low of $1.40 and a 1-year high of $6.64. The stock has a market cap of $694.28 million, a PE ratio of -5.90 and a beta of 1.21. The firm has a 50-day simple moving average of $3.64 and a two-hundred day simple moving average of $3.91. The company has a debt-to-equity ratio of 24.07, a current ratio of 1.19 and a quick ratio of 1.19.

Energy Vault (NYSE:NRGV - Get Free Report) last issued its quarterly earnings data on Tuesday, August 11th. The company reported ($0.17) EPS for the quarter, missing the consensus estimate of ($0.14) by ($0.03). Energy Vault had a negative return on equity of 236.83% and a negative net margin of 48.58%.The company had revenue of $17.37 million during the quarter, compared to analyst estimates of $14.24 million. As a group, analysts forecast that Energy Vault Holdings, Inc. will post -0.56 EPS for the current year.

Insiders Place Their Bets

In other news, Director Dylan Hixon acquired 85,518 shares of the company's stock in a transaction dated Friday, August 14th. The stock was acquired at an average cost of $3.74 per share, with a total value of $319,837.32. Following the completion of 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. The acquisition was disclosed in a document filed with the SEC, which is available at this link. Also, CFO Michael Thomas Beer sold 65,000 shares of the business's stock in a transaction 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 sale, the chief financial officer owned 1,021,806 shares in the company, valued at $4,168,968.48. This represents a 5.98% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 17.20% of the stock is owned by corporate insiders.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source