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

Energy Vault Holdings, Inc. (NYSE:NRGV) was the recipient of some unusual options trading on Tuesday. Stock traders acquired 3,079 call options on the stock. This is an increase of approximately 3,247% compared to the typical daily volume of 92 call options.

Energy Vault Stock Down 2.1 %

Shares of NYSE NRGV traded down $0.04 during trading hours on Tuesday, reaching $1.84. 385,149 shares of the stock traded hands, compared to its average volume of 765,711. The company has a market capitalization of $276.88 million, a P/E ratio of -3.10 and a beta of 0.65. Energy Vault has a 52-week low of $0.78 and a 52-week high of $3.22. The company’s 50-day simple moving average is $0.98 and its two-hundred day simple moving average is $1.10.

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

Hedge Funds Weigh In On Energy Vault

Large investors have recently bought and sold shares of the stock. SG Americas Securities LLC increased its stake in Energy Vault by 95.5% in the 3rd quarter. SG Americas Securities LLC now owns 35,601 shares of the company’s stock worth $34,000 after purchasing an additional 17,388 shares during the period. Jacobs Levy Equity Management Inc. purchased a new position in Energy Vault in the 1st quarter worth approximately $91,000. Mesirow Financial Investment Management Inc. increased its stake in Energy Vault by 33.3% in the 2nd quarter. Mesirow Financial Investment Management Inc. now owns 80,000 shares of the company’s stock worth $76,000 after purchasing an additional 20,000 shares during the period. Green Alpha Advisors LLC increased its stake in Energy Vault by 62.3% in the 3rd quarter. Green Alpha Advisors LLC now owns 158,171 shares of the company’s stock worth $152,000 after purchasing an additional 60,725 shares during the period. Finally, XTX Topco Ltd increased its stake in Energy Vault by 684.0% in the 2nd quarter. XTX Topco Ltd now owns 173,016 shares of the company’s stock worth $164,000 after purchasing an additional 150,948 shares during the period. 40.03% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

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

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.