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

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

Energy Vault Stock Up 0.5 %

Shares of Energy Vault stock opened at $1.89 on Wednesday. The stock’s 50-day simple moving average is $1.00 and its 200-day simple moving average is $1.10. Energy Vault has a 52 week low of $0.78 and a 52 week high of $3.22. The company has a market capitalization of $281.33 million, a price-to-earnings ratio of -3.06 and a beta of 0.65.

Energy Vault (NYSE:NRGV) last announced its quarterly earnings data on Tuesday, August 6th. The company reported ($0.18) EPS for the quarter, missing the consensus estimate of ($0.11) by ($0.07). Energy Vault had a negative net margin of 29.29% and a negative return on equity of 40.67%. The business had revenue of $3.77 million during the quarter, compared to analysts’ expectations of $16.65 million. During the same quarter in the previous year, the firm earned ($0.18) earnings per share. On average, equities analysts expect that Energy Vault will post -0.6 earnings per share for the current year.

Institutional Investors Weigh In On Energy Vault

A number of hedge funds have recently made changes to their positions in NRGV. Mirae Asset Global Investments Co. Ltd. lifted its position 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 buying an additional 35,935 shares in the last quarter. Vanguard Group Inc. lifted its position 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 buying an additional 43,764 shares in the last quarter. Jacobs Levy Equity Management Inc. purchased a new stake in shares of Energy Vault in the first quarter worth about $91,000. Bank of New York Mellon Corp lifted its position in shares of Energy Vault by 21.8% in the second quarter. Bank of New York Mellon Corp now owns 341,909 shares of the company’s stock worth $325,000 after buying an additional 61,135 shares in the last quarter. Finally, Mesirow Financial Investment Management Inc. lifted its position 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 buying an additional 20,000 shares in the last quarter. 40.03% of the stock is currently owned by hedge funds and other institutional investors.

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 on the stock in a research report on Thursday, August 8th. Two equities research analysts have rated the stock with a sell rating and four have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $2.25.

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.