Stock Traders Buy Large Volume of Energy Vault Call Options (NYSE:NRGV)

Energy Vault Holdings, Inc. (NYSE:NRGV) was the recipient of unusually large options trading on Tuesday. Stock investors acquired 3,079 call options on the company. This represents an increase of 3,247% compared to the typical daily volume of 92 call options.

Energy Vault Stock Performance

Shares of NYSE NRGV traded down $0.04 during mid-day trading on Tuesday, hitting $1.84. 385,149 shares of the stock traded hands, compared to its average volume of 765,711. Energy Vault has a 52 week low of $0.78 and a 52 week high of $3.22. The company has a market cap of $276.88 million, a price-to-earnings ratio of -3.10 and a beta of 0.65. The stock has a fifty day moving average price of $0.98 and a 200-day moving average price of $1.10.

Energy Vault (NYSE:NRGV) last released its quarterly earnings results on Tuesday, August 6th. The company reported ($0.18) earnings per share for the quarter, missing the consensus estimate of ($0.11) by ($0.07). Energy Vault had a negative net margin of 29.29% and a negative return on equity of 40.67%. The firm had revenue of $3.77 million for the quarter, compared to the consensus estimate of $16.65 million. During the same quarter in the prior year, the firm earned ($0.18) earnings per share. As a group, sell-side analysts predict that Energy Vault will post -0.6 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Separately, Roth Mkm cut their price objective on Energy Vault from $2.50 to $2.00 and set a “buy” rating on the stock in a research report on Thursday, August 8th. Two research analysts have rated the stock with a sell rating and four have given a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $2.25.

Institutional Investors Weigh In On Energy Vault

Several hedge funds have recently made changes to their positions in NRGV. SG Americas Securities LLC boosted its holdings in Energy Vault by 95.5% in the third quarter. SG Americas Securities LLC now owns 35,601 shares of the company’s stock worth $34,000 after acquiring an additional 17,388 shares in the last quarter. Mesirow Financial Investment Management Inc. boosted its holdings in Energy Vault by 33.3% in the second quarter. Mesirow Financial Investment Management Inc. now owns 80,000 shares of the company’s stock worth $76,000 after acquiring an additional 20,000 shares in the last quarter. Jacobs Levy Equity Management Inc. bought a new stake in Energy Vault in the first quarter worth $91,000. Green Alpha Advisors LLC boosted its holdings in Energy Vault by 62.3% in the third quarter. Green Alpha Advisors LLC now owns 158,171 shares of the company’s stock worth $152,000 after acquiring an additional 60,725 shares in the last quarter. Finally, XTX Topco Ltd boosted its holdings in Energy Vault by 684.0% in the second quarter. XTX Topco Ltd now owns 173,016 shares of the company’s stock worth $164,000 after acquiring an additional 150,948 shares in the last quarter. 40.03% of the stock is currently owned by institutional investors.

About Energy Vault

Energy Vault Holdings, Inc develops and sells energy storage solutions. The company offers B-Vault, an electrochemical battery energy storage systems for shorter-duration energy storage needs; G-Vault, a proprietary gravity energy storage solution, including EVx solution; and H-Vault, a hybrid energy storage systems including systems that integrate green hydrogen.