Tidal Investments LLC Raises Position in Energy Vault Holdings, Inc. $NRGV

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

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Bank of Nova Scotia grew its position in Energy Vault by 19.9% in the first quarter. Bank of Nova Scotia now owns 41,600 shares of the company's stock worth $137,000 after acquiring an additional 6,900 shares in the last quarter. Arizona State Retirement System grew its position in Energy Vault by 37.6% in the second quarter. Arizona State Retirement System now owns 33,637 shares of the company's stock worth $158,000 after acquiring an additional 9,186 shares in the last quarter. Forte Asset Management LLC purchased a new position in Energy Vault in the first quarter worth $33,000. Quantbot Technologies LP purchased a new position in Energy Vault in the second quarter worth $50,000. Finally, Hsbc Holdings PLC purchased a new position in Energy Vault in the second quarter worth $57,000. 40.03% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Energy Vault news, Director Dylan Hixon acquired 85,518 shares of the company's stock in a transaction on 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 purchase, the director directly owned 1,103,185 shares of the company's stock, valued at approximately $4,125,911.90. This represents a 8.40% increase in their position. The purchase was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Stephanie Unwin sold 115,000 shares of Energy Vault 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 directly owned 182,245 shares of the company's stock, valued at $676,128.95. The trade was a 38.69% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 17.20% of the company's stock.

Energy Vault Price Performance

NYSE NRGV traded down $0.17 on Monday, reaching $3.78. The company had a trading volume of 684,267 shares, compared to its average volume of 4,493,698. Energy Vault Holdings, Inc. has a 12 month low of $2.50 and a 12 month high of $6.64. The stock has a market capitalization of $686.45 million, a PE ratio of -5.73 and a beta of 1.25. The firm's 50 day moving average price is $3.76 and its 200 day moving average price is $4.02. 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 (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 analysts' consensus estimates 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 business had revenue of $17.37 million during the quarter, compared to analysts' expectations of $14.24 million. As a group, equities analysts predict that Energy Vault Holdings, Inc. will post -0.56 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several analysts have issued reports on NRGV shares. Citigroup upped their price target on shares of Energy Vault from $5.00 to $6.00 and gave the company a "buy" rating in a research report on Thursday, August 20th. Wall Street Zen lowered shares of Energy Vault from a "sell" rating to a "strong sell" rating in a research report on Saturday, August 15th. Weiss Ratings downgraded shares of Energy Vault from a "sell (d-)" rating to a "sell (e+)" rating in a research note on Wednesday, August 12th. 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, August 18th. Finally, Zacks Research raised shares of Energy Vault from a "strong sell" rating to a "hold" rating in a research note on Monday, July 6th. Four investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, Energy Vault has an average rating of "Hold" and a consensus target price of $6.01.

Energy Vault Company Profile

Energy Vault Holdings, Inc NYSE: NRGV develops and deploys long-duration energy storage systems designed to help utilities, renewable energy developers and industrial customers store electricity and improve grid reliability. Its solutions are intended to complement intermittent renewable power sources such as wind and solar by storing energy when supply is abundant and releasing it when demand is higher.

The company's portfolio includes gravity-based energy storage systems, which use mechanical structures and heavy materials to store and release energy, as well as battery energy storage solutions.