Traders Buy High Volume of Energy Vault Call Options (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 recipient of some unusual options trading activity on Tuesday. Investors bought 2,022 call options on the stock. Thisrepresentsanincreaseofapproximately110% compared to the average daily volume of 965 call options.

Insider Activity at Energy Vault

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

Institutional Investors Weigh In On Energy Vault

Institutional investors have recently bought and sold shares of the business. Millennium Management LLC grew its stake in Energy Vault by 122.5% during the fourth quarter. Millennium Management LLC now owns 1,442,399 shares of the company's stock worth $3,289,000 after buying an additional 794,253 shares during the period. Private Capital Advisors Inc. boosted its stake in shares of Energy Vault by 766.1% in the first quarter. Private Capital Advisors Inc. now owns 487,260 shares of the company's stock valued at $339,000 after purchasing an additional 431,000 shares during the period. CastleKnight Management LP purchased a new position in shares of Energy Vault in the fourth quarter valued at $2,752,000. Dimensional Fund Advisors LP boosted its stake in shares of Energy Vault by 202.8% in the fourth quarter. Dimensional Fund Advisors LP now owns 33,637 shares of the company's stock valued at $77,000 after purchasing an additional 22,528 shares during the period. Finally, Barclays PLC boosted its stake in shares of Energy Vault by 15.1% in the fourth quarter. Barclays PLC now owns 165,519 shares of the company's stock valued at $378,000 after purchasing an additional 21,760 shares during the period. 40.03% of the stock is currently owned by hedge funds and other institutional investors.

Energy Vault Trading Down 0.2%

NRGV stock traded down $0.01 on Friday, hitting $2.07. 1,046,529 shares of the company were exchanged, compared to its average volume of 2,014,212. Energy Vault has a twelve month low of $0.60 and a twelve month 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. The business's fifty day moving average is $1.29 and its two-hundred day moving average is $1.04. The stock has a market capitalization of $334.22 million, a price-to-earnings ratio of -2.13 and a beta of 0.83.

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

Wall Street Analyst Weigh In

Separately, Wall Street Zen upgraded shares of Energy Vault from a "strong sell" rating to a "hold" rating in a research report on Thursday, May 22nd. Two investment analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. According to data from MarketBeat, Energy Vault presently has an average rating of "Hold" and an average 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.