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

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

Wall Street Analyst Weigh In

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

Insider Activity

In other Energy Vault news, CEO Robert Piconi purchased 50,000 shares of the business’s stock in a transaction that occurred on Wednesday, September 17th. The shares were bought at an average price of $2.30 per share, for a total transaction of $115,000.00. Following the acquisition, the chief executive officer owned 20,182,384 shares in the company, valued at $46,419,483.20. This represents a 0.25% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Akshay Ladwa sold 75,000 shares of the firm’s stock in a transaction that occurred on Thursday, September 25th. The stock was sold at an average price of $3.11, for a total transaction of $233,250.00. Following the transaction, the insider directly owned 1,934,582 shares of the company’s stock, valued at $6,016,550.02. This represents a 3.73% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders bought 77,500 shares of company stock valued at $197,850. Company insiders own 15.40% 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. Nuveen LLC acquired a new position in shares of Energy Vault during the 1st quarter worth approximately $190,000. AQR Capital Management LLC increased its holdings in Energy Vault by 381.1% in the 1st quarter. AQR Capital Management LLC now owns 105,296 shares of the company’s stock worth $73,000 after acquiring an additional 83,410 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in Energy Vault by 201.9% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 177,395 shares of the company’s stock worth $125,000 after acquiring an additional 118,641 shares during the period. Goldman Sachs Group Inc. lifted its holdings in Energy Vault by 4.2% during the first quarter. Goldman Sachs Group Inc. now owns 398,476 shares of the company’s stock valued at $277,000 after purchasing an additional 16,101 shares in the last quarter. Finally, Jane Street Group LLC grew its position in shares of Energy Vault by 613.7% in the first quarter. Jane Street Group LLC now owns 139,129 shares of the company’s stock valued at $97,000 after purchasing an additional 119,636 shares during the period. 40.03% of the stock is currently owned by hedge funds and other institutional investors.

Energy Vault Trading Down 9.5%

Shares of Energy Vault stock opened at $4.91 on Friday. The firm has a 50-day simple moving average of $3.59 and a two-hundred day simple moving average of $2.21. The company has a debt-to-equity ratio of 0.39, a quick ratio of 0.59 and a current ratio of 0.63. Energy Vault has a fifty-two week low of $0.60 and a fifty-two week high of $5.56. The company has a market cap of $823.01 million, a P/E ratio of -5.16 and a beta of 0.95.

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

Energy Vault Company Profile

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.