Tidal Investments LLC Has $3.24 Million Stock Holdings in Energy Vault Holdings, Inc. $NRGV

Key Points

• Tidal Investments more than doubled its Energy Vault stake in the second quarter, adding 354,220 shares to reach 688,592 shares worth approximately $3.24 million. Institutional investors and hedge funds collectively own 40.03% of the company.
• Analyst sentiment is mixed: Roth Capital and Citigroup raised their price targets to $7 and $6, respectively, while the consensus rating remains “Hold” with an average target of $6.01.
• Energy Vault reported quarterly revenue of $17.37 million, exceeding estimates, but its adjusted loss of $0.17 per share was wider than expected. The stock opened at $4.09 after declining 5%, while two insiders also sold shares recently.

Tidal Investments LLC grew its stake in Energy Vault Holdings, Inc. (NYSE:NRGV - Free Report) by 105.9% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 688,592 shares of the company's stock after purchasing an additional 354,220 shares during the quarter. Tidal Investments LLC owned approximately 0.38% of Energy Vault worth $3,243,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of the stock. BlackRock Inc. bought a new stake in shares of Energy Vault during the 2nd quarter worth about $52,657,000. Legal & General Group Plc bought a new position in Energy Vault in the 2nd quarter valued at about $25,508,000. SailingStone Capital Partners LLC raised its holdings in Energy Vault by 0.5% in the 2nd quarter. SailingStone Capital Partners LLC now owns 4,469,075 shares of the company's stock valued at $21,049,000 after acquiring an additional 24,058 shares during the period. UBS Group AG lifted its position in Energy Vault by 940.1% during the fourth quarter. UBS Group AG now owns 1,541,087 shares of the company's stock worth $7,104,000 after acquiring an additional 1,392,923 shares during the last quarter. Finally, J. Goldman & Co LP acquired a new stake in Energy Vault during the second quarter worth approximately $7,085,000. Institutional investors and hedge funds own 40.03% of the company's stock.

Analyst Ratings Changes

Several equities analysts have recently commented on the company. Roth Capital reaffirmed a "buy" rating and issued a $7.00 target price (up from $5.00) on shares of Energy Vault in a research report on Wednesday, August 12th. Citigroup boosted their price target on Energy Vault from $5.00 to $6.00 and gave the company a "buy" rating in a research note on Thursday, August 20th. Cantor Fitzgerald reaffirmed an "overweight" rating and issued a $7.00 price objective on shares of Energy Vault in a report on Wednesday, August 12th. Zacks Research upgraded Energy Vault from a "strong sell" rating to a "hold" rating in a research report on Monday, July 6th. Finally, Wall Street Zen downgraded Energy Vault from a "sell" rating to a "strong sell" rating in a report on Saturday, August 15th. Four analysts have rated the stock with a Buy rating, one has given a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average target price of $6.01.

Energy Vault Trading Down 5.0%

Shares of Energy Vault stock opened at $4.09 on Tuesday. 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 Holdings, Inc. has a 12-month low of $2.11 and a 12-month high of $6.64. The company has a market capitalization of $744.63 million, a price-to-earnings ratio of -6.20 and a beta of 1.24. The firm's 50-day moving average price is $3.50 and its two-hundred day moving average price is $3.92.

Energy Vault (NYSE:NRGV - Get Free Report) last issued its quarterly 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). The firm had revenue of $17.37 million for the quarter, compared to the consensus estimate of $14.24 million. Energy Vault had a negative return on equity of 236.83% and a negative net margin of 48.58%. On average, analysts forecast that Energy Vault Holdings, Inc. will post -0.56 earnings per share for the current fiscal year.

Insider Activity

In other news, Director Stephanie Unwin sold 115,000 shares of the business's stock in a transaction on Wednesday, August 26th. The stock was sold at an average price of $3.71, for a total transaction of $426,650.00. Following the completion of the transaction, the director owned 182,245 shares of the company's stock, valued at approximately $676,128.95. The trade was a 38.69% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Michael Beer sold 65,000 shares of the firm's stock in a transaction dated 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 directly owned 1,021,806 shares in the company, valued at $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.

Energy Vault Company Profile

Energy Vault Holdings, Inc develops and deploys energy-storage systems designed to help stabilize electric grids and integrate renewable power. The company's technologies are intended to store electricity for later use, addressing the intermittent nature of sources such as wind and solar.

Its product portfolio includes gravity-based storage systems, including the EVx platform, which uses mechanical lifting and lowering of heavy composite blocks to store and release energy. Energy Vault also offers battery energy-storage systems, hybrid storage solutions, and VaultOS, a software platform designed to manage and optimize energy-storage assets.

Founded in 2017, Energy Vault became a publicly traded company in 2022 through a business combination with Novus Capital Corporation III.

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.