Connor Clark & Lunn Investment Management Ltd. Purchases New Holdings in Energy Vault Holdings, Inc. $NRGV

Connor Clark & Lunn Investment Management Ltd. acquired a new position in Energy Vault Holdings, Inc. (NYSE:NRGV) during the 2nd quarter, HoldingsChannel reports. The fund acquired 373,491 shares of the company’s stock, valued at approximately $1,759,000.

Several other large investors also recently bought and sold shares of NRGV. BlackRock Inc. acquired a new position in shares of Energy Vault during the second quarter valued at approximately $52,657,000. State Street Corp boosted its stake in shares of Energy Vault by 1,004.0% in the fourth quarter. State Street Corp now owns 5,697,735 shares of the company’s stock worth $26,267,000 after acquiring an additional 5,181,624 shares during the last quarter. Legal & General Group Plc purchased a new stake in shares of Energy Vault during the fourth quarter worth approximately $18,217,000. Millennium Management LLC increased its position in shares of Energy Vault by 141.2% during the third quarter. Millennium Management LLC now owns 5,858,734 shares of the company’s stock worth $17,400,000 after purchasing an additional 3,430,094 shares in the last quarter. Finally, Invesco Ltd. acquired a new position in Energy Vault in the 4th quarter valued at $11,454,000. 40.03% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Energy Vault

In other news, Director Dylan Hixon acquired 85,518 shares of the company’s stock in a transaction that occurred on Friday, August 14th. The stock was purchased at an average price of $3.74 per share, with a total value of $319,837.32. Following the completion of the acquisition, the director owned 31,864 shares of the company’s stock, valued at $119,171.36. This trade represents a -159.39% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Stephanie Unwin sold 115,000 shares of the firm’s stock in a transaction dated Wednesday, August 26th. The stock was sold at an average price of $3.71, for a total transaction of $426,650.00. Following the sale, 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 ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders own 17.20% of the company’s stock.

Energy Vault Price Performance

NYSE:NRGV opened at $3.59 on Friday. Energy Vault Holdings, Inc. has a one year low of $1.73 and a one year high of $6.64. The company has a debt-to-equity ratio of 24.07, a quick ratio of 1.19 and a current ratio of 1.19. The stock has a market cap of $652.81 million, a PE ratio of -5.44 and a beta of 1.21. The stock has a 50 day moving average price of $3.58 and a 200 day moving average price of $3.87.

Energy Vault (NYSE:NRGV) last released its quarterly earnings data 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 company had revenue of $17.37 million for the quarter, compared to analyst estimates of $14.24 million. Energy Vault had a negative return on equity of 236.83% and a negative net margin of 48.58%. Equities research analysts expect that Energy Vault Holdings, Inc. will post -0.56 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on NRGV. Weiss Ratings lowered Energy Vault from a “sell (d-)” rating to a “sell (e+)” rating in a report on Wednesday, August 12th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $7.00 target price on shares of Energy Vault in a report on Wednesday, August 12th. Zacks Research upgraded shares of Energy Vault from a “strong sell” rating to a “hold” rating in a research report on Monday, July 6th. Fundamental Research set a $8.03 price target on shares of Energy Vault and gave the stock a “buy” rating in a research note on Tuesday, August 18th. Finally, Citigroup boosted their price target on shares of Energy Vault from $5.00 to $6.00 and gave the stock a “buy” rating in a research report on Thursday, August 20th. Four research analysts have rated the stock with a Buy rating, one has given a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $6.01.

Energy Vault 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.