Investors Purchase High Volume of Energy Vault Call Options (NYSE:NRGV)

Energy Vault Holdings, Inc. (NYSE:NRGV) was the recipient of some unusual options trading on Thursday. Stock traders acquired 13,460 call options on the company. This is an increase of approximately 287% compared to the average daily volume of 3,480 call options.

Analyst Ratings Changes

NRGV has been the topic of a number of research analyst reports. Fundamental Research set a $5.19 price objective on shares of Energy Vault and gave the company a “buy” rating in a research report on Tuesday, November 18th. The Goldman Sachs Group boosted their price target on shares of Energy Vault from $1.50 to $2.00 and gave the company a “sell” rating in a research report on Wednesday, November 12th. Weiss Ratings reissued a “sell (e+)” rating on shares of Energy Vault in a research note on Tuesday, October 14th. Finally, Zacks Research lowered shares of Energy Vault from a “hold” rating to a “strong sell” rating in a report on Wednesday, October 15th. Three research analysts have rated the stock with a Buy rating and three have issued a Sell rating to the stock. Based on data from MarketBeat.com, Energy Vault currently has a consensus rating of “Hold” and an average target price of $2.67.

Insider Activity

In related news, insider Akshay Ladwa sold 75,000 shares of the company’s stock in a transaction on Thursday, September 25th. The shares were sold at an average price of $3.11, for a total transaction of $233,250.00. Following the completion of the sale, the insider directly owned 1,934,582 shares in the company, valued at $6,016,550.02. This represents a 3.73% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CEO Robert Piconi purchased 10,000 shares of the company’s stock in a transaction on Friday, November 14th. The shares were purchased at an average cost of $3.00 per share, with a total value of $30,000.00. Following the transaction, the chief executive officer directly owned 20,207,242 shares in the company, valued at $60,621,726. This trade represents a 0.05% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Over the last 90 days, insiders purchased 77,500 shares of company stock valued at $197,850 and sold 200,000 shares valued at $584,000. Insiders own 15.40% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Ground Swell Capital LLC bought a new stake in Energy Vault in the 2nd quarter worth about $26,000. Catalyst Funds Management Pty Ltd bought a new position in Energy Vault during the 2nd quarter valued at about $36,000. Mercer Global Advisors Inc. ADV purchased a new stake in shares of Energy Vault during the 3rd quarter valued at about $36,000. XTX Topco Ltd bought a new stake in shares of Energy Vault in the second quarter worth approximately $39,000. Finally, Platform Technology Partners bought a new stake in shares of Energy Vault in the third quarter worth approximately $40,000. Institutional investors own 40.03% of the company’s stock.

Energy Vault Stock Down 0.8%

NYSE NRGV traded down $0.04 during trading hours on Thursday, reaching $4.63. 286,955 shares of the company’s stock traded hands, compared to its average volume of 2,095,996. Energy Vault has a 52-week low of $0.60 and a 52-week high of $4.85. The company has a debt-to-equity ratio of 0.39, a current ratio of 0.63 and a quick ratio of 0.59. The firm has a 50-day simple moving average of $3.52 and a 200 day simple moving average of $2.16. The firm has a market cap of $776.03 million, a PE ratio of -4.89 and a beta of 0.95.

Energy Vault (NYSE:NRGV) last announced its quarterly earnings data on Monday, November 10th. The company reported ($0.16) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.10) by ($0.06). Energy Vault had a negative return on equity of 119.98% and a negative net margin of 172.61%.The business had revenue of $33.32 million during the quarter, compared to analysts’ expectations of $48.99 million. Sell-side analysts anticipate that Energy Vault will post -0.64 EPS for the current fiscal year.

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.