Energy Vault Target of Unusually High Options Trading (NYSE:NRGV)

Key Points

• Energy Vault Holdings, Inc. experienced an unusual trading activity with a total of 2,022 call options purchased, marking a 110% increase from the average daily volume of 965 call options.
• Insider transactions included CFO Michael Thomas Beer selling 33,897 shares of stock while CEO Robert Piconi bought 22,500 shares, with overall insider ownership at 19.80% of the company.
• Institutional investors have been active, with Wells Fargo increasing its holdings by 24.9% and Dimensional Fund Advisors raising theirs by 202.8% during the last quarter.

Energy Vault Holdings, Inc. (NYSE:NRGV - Get Free Report) was the target of some unusual options trading activity on Tuesday. Investors purchased 2,022 call options on the stock. Thisisanincreaseofapproximately110% compared to the average volume of 965 call options.

Insider Activity at Energy Vault

In related news, CEO Robert Piconi purchased 22,500 shares of the company's stock in a transaction that occurred on Friday, August 29th. The stock was purchased at an average price of $1.92 per share, with a total value of $43,200.00. Following the completion of the transaction, the chief executive officer owned 20,110,026 shares of the company's stock, valued at approximately $38,611,249.92. This trade represents a 0.11% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Dylan Hixon purchased 20,000 shares of the company's stock in a transaction that occurred on Friday, August 29th. The shares were bought at an average cost of $1.92 per share, with a total value of $38,400.00. Following the transaction, the director directly owned 900,065 shares of the company's stock, valued at $1,728,124.80. The trade was a 2.27% increase in their position. The disclosure for this purchase can be found here. Over the last 90 days, insiders have bought 64,900 shares of company stock valued at $120,280 and have sold 66,024 shares valued at $53,479. Insiders own 15.40% of the company's stock.

Institutional Investors Weigh In On Energy Vault

A number of large investors have recently added to or reduced their stakes in the company. Shepherd Kaplan Krochuk LLC bought a new position in Energy Vault during the 4th quarter valued at $31,000. Wells Fargo & Company MN grew its holdings in Energy Vault by 24.9% during the 4th quarter. Wells Fargo & Company MN now owns 72,058 shares of the company's stock worth $164,000 after acquiring an additional 14,367 shares in the last quarter. Goldman Sachs Group Inc. grew its holdings in Energy Vault by 4.2% during the 1st quarter. Goldman Sachs Group Inc. now owns 398,476 shares of the company's stock worth $277,000 after acquiring an additional 16,101 shares in the last quarter. BNP Paribas Financial Markets acquired a new position in Energy Vault during the 4th quarter worth $44,000. Finally, Mesirow Financial Investment Management Inc. grew its holdings in Energy Vault by 19.0% during the 2nd quarter. Mesirow Financial Investment Management Inc. now owns 125,000 shares of the company's stock worth $90,000 after acquiring an additional 20,000 shares in the last quarter. 40.03% of the stock is owned by institutional investors and hedge funds.

Energy Vault Stock Down 0.2%

NRGV traded down $0.01 during trading hours on Friday, reaching $2.07. 1,046,529 shares of the stock traded hands, compared to its average volume of 2,014,212. The firm's fifty day simple moving average is $1.29 and its two-hundred day simple moving average is $1.04. The company has a market cap of $334.22 million, a price-to-earnings ratio of -2.13 and a beta of 0.83. Energy Vault has a fifty-two week low of $0.60 and a fifty-two week high of $2.69. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.66 and a quick ratio of 0.66.

Energy Vault (NYSE:NRGV - Get Free Report) last released its quarterly earnings results on Thursday, August 7th. The company reported ($0.22) earnings per share for the quarter, missing analysts' consensus estimates of ($0.07) by ($0.15). The firm had revenue of $8.51 million for the quarter, compared to analyst estimates of $31.18 million. Energy Vault had a negative net margin of 279.38% and a negative return on equity of 96.64%. Energy Vault has set its FY 2025 guidance at EPS. As a group, analysts forecast that Energy Vault will post -0.64 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Separately, Wall Street Zen raised shares of Energy Vault from a "strong sell" rating to a "hold" rating in a research report on Thursday, May 22nd. Two research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus target price of $1.42.

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.