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

Energy Vault Holdings, Inc. (NYSE:NRGV) was the recipient of unusually large options trading on Wednesday. Stock traders bought 8,270 call options on the company. This is an increase of approximately 53% compared to the typical volume of 5,389 call options.

Insider Transactions at Energy Vault

In other news, Director Dylan Hixon bought 27,472 shares of the firm’s stock in a transaction that occurred on Monday, August 17th. The stock was purchased at an average price of $3.88 per share, with a total value of $106,591.36. Following the completion of the acquisition, the director directly owned 27,472 shares of the company’s stock, valued at $106,591.36. This trade represents a ∞ increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Stephanie Unwin sold 115,000 shares of Energy Vault stock in a transaction dated Wednesday, August 26th. The stock was sold at an average price of $3.71, for a total value of $426,650.00. Following the sale, the director directly owned 182,245 shares of the company’s stock, valued at $676,128.95. This trade represents a 38.69% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 17.20% of the company’s stock.

Institutional Trading of Energy Vault

A number of institutional investors and hedge funds have recently made changes to their positions in NRGV. BlackRock Inc. purchased a new stake in shares of Energy Vault in the second quarter valued at approximately $52,657,000. Legal & General Group Plc purchased a new stake in shares of Energy Vault in the second quarter valued at approximately $25,508,000. J. Goldman & Co LP purchased a new stake in shares of Energy Vault in the second quarter valued at approximately $7,085,000. UBS Group AG increased its position in shares of Energy Vault by 940.1% in the fourth quarter. UBS Group AG now owns 1,541,087 shares of the company’s stock valued at $7,104,000 after buying an additional 1,392,923 shares in the last quarter. Finally, Mitsubishi UFJ Asset Management Co. Ltd. purchased a new stake in shares of Energy Vault in the second quarter valued at approximately $2,703,000. 40.03% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities research analysts recently commented on NRGV shares. Wall Street Zen downgraded Energy Vault from a “sell” rating to a “strong sell” rating in a report on Saturday, August 15th. Roth Capital reaffirmed a “buy” rating and set a $7.00 target price (up from $5.00) on shares of Energy Vault in a report on Wednesday, August 12th. Cantor Fitzgerald reissued an “overweight” rating and issued a $7.00 price target on shares of Energy Vault in a report on Wednesday, August 12th. Weiss Ratings downgraded Energy Vault from a “sell (d-)” rating to a “sell (e+)” rating in a report on Wednesday, August 12th. Finally, Fundamental Research set a $8.03 price target on Energy Vault and gave the company a “buy” rating in a report on Tuesday, August 18th. Four equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, Energy Vault presently has an average rating of “Hold” and an average price target of $6.01.

Energy Vault Stock Performance

NYSE:NRGV traded down $0.17 during trading hours 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 has a 1-year low of $2.50 and a 1-year high of $6.64. The firm has a market cap of $686.45 million, a PE ratio of -5.73 and a beta of 1.25. The business’s 50 day moving average price is $3.76 and its 200-day moving average price is $4.02. The company has a debt-to-equity ratio of 24.07, a current ratio of 1.19 and a quick ratio of 1.19.

Energy Vault (NYSE:NRGV) last announced its quarterly earnings results on Tuesday, August 11th. The company reported ($0.17) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.14) by ($0.03). Energy Vault had a negative net margin of 48.58% and a negative return on equity of 236.83%. The company had revenue of $17.37 million during the quarter, compared to analyst estimates of $14.24 million. Research analysts forecast that Energy Vault will post -0.56 EPS for the current year.

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.