Energy Vault Sees Unusually High Options Volume (NYSE:NRGV)

Energy Vault Holdings, Inc. (NYSE:NRGV) saw some unusual options trading on Tuesday. Stock traders bought 3,079 call options on the company. This represents an increase of approximately 3,247% compared to the typical volume of 92 call options.

Energy Vault Trading Up 0.5 %

Shares of NYSE:NRGV opened at $1.89 on Wednesday. The stock has a fifty day simple moving average of $1.00 and a two-hundred day simple moving average of $1.10. The stock has a market capitalization of $281.33 million, a price-to-earnings ratio of -3.06 and a beta of 0.65. Energy Vault has a 12-month low of $0.78 and a 12-month high of $3.22.

Energy Vault (NYSE:NRGV) last posted its earnings results on Tuesday, August 6th. The company reported ($0.18) EPS for the quarter, missing analysts’ consensus estimates of ($0.11) by ($0.07). The business had revenue of $3.77 million during the quarter, compared to the consensus estimate of $16.65 million. Energy Vault had a negative return on equity of 40.67% and a negative net margin of 29.29%. During the same period in the previous year, the business posted ($0.18) EPS. As a group, equities research analysts predict that Energy Vault will post -0.6 EPS for the current year.

Analyst Upgrades and Downgrades

Separately, Roth Mkm lowered their target price on Energy Vault from $2.50 to $2.00 and set a “buy” rating for the company in a research note on Thursday, August 8th. Two investment analysts have rated the stock with a sell rating and four have issued a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $2.25.

Institutional Trading of Energy Vault

A number of institutional investors and hedge funds have recently modified their holdings of NRGV. SG Americas Securities LLC grew its holdings in shares of 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 during the period. Mesirow Financial Investment Management Inc. grew its holdings in shares of 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 during the period. Mirae Asset Global Investments Co. Ltd. grew its holdings in shares of Energy Vault by 17.4% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 242,541 shares of the company’s stock worth $434,000 after acquiring an additional 35,935 shares during the period. Vanguard Group Inc. grew its holdings in shares of Energy Vault by 2.7% in the first quarter. Vanguard Group Inc. now owns 1,675,361 shares of the company’s stock worth $2,999,000 after acquiring an additional 43,764 shares during the period. Finally, Jacobs Levy Equity Management Inc. bought a new stake in shares of Energy Vault in the first quarter worth $91,000. Institutional investors own 40.03% of the company’s stock.

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.