Energy Vault (NYSE:NRGV) Stock Sees Unusually High Call Option Buying

Key Points

• Traders bought 12,596 Energy Vault call options on Friday, 141% above typical volume.
• Shares rose 5.7% to $3.81. Analyst views were mixed, with a consensus “Hold” rating and an average price target of $6.81.
• The company missed quarterly EPS estimates, reporting a loss of $0.17 per share, but revenue of $17.37 million exceeded forecasts.

Energy Vault Holdings, Inc. (NYSE:NRGV - Get Free Report) saw some unusual options trading activity on Friday. Traders purchased 12,596 call options on the company. This represents an increase of 141% compared to the typical volume of 5,230 call options.

Analysts Set New Price Targets

A number of analysts recently issued reports on NRGV shares. Cantor Fitzgerald increased their target price on shares of Energy Vault from $7.00 to $12.00 and gave the stock an "overweight" rating in a research report on Wednesday. Weiss Ratings reiterated a "sell (e+)" rating on shares of Energy Vault in a research note on Tuesday. Wall Street Zen downgraded shares of Energy Vault from a "sell" rating to a "strong sell" rating in a research note on Saturday, August 15th. Citigroup increased their price objective on shares of Energy Vault from $4.75 to $5.00 and gave the stock a "buy" rating in a research report on Wednesday. Finally, Roth Capital reissued a "buy" rating and issued a $7.00 target price (up from $5.00) on shares of Energy Vault in a research note on Wednesday, August 12th. Four analysts have rated the stock with a Buy rating, one has issued a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Hold" and a consensus price target of $6.81.

Energy Vault Stock Up 5.7%

Energy Vault stock traded up $0.20 during midday trading on Friday, hitting $3.81. 1,594,562 shares of the company were exchanged, compared to its average volume of 4,492,139. The company has a market cap of $693.72 million, a PE ratio of -5.65 and a beta of 1.33. Energy Vault has a fifty-two week low of $2.46 and a fifty-two week high of $6.64. The company's fifty day moving average price is $3.59 and its 200-day moving average price is $3.83. The company has a debt-to-equity ratio of 24.07, a current ratio of 1.19 and a quick ratio of 1.19.

Energy Vault (NYSE:NRGV - Get Free Report) last issued its quarterly earnings data on Tuesday, August 11th. The company reported ($0.17) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.14) by ($0.03). The firm had revenue of $17.37 million during the quarter, compared to analyst estimates of $14.24 million. Energy Vault had a negative net margin of 54.02% and a negative return on equity of 318.02%. On average, research analysts predict that Energy Vault will post -0.56 EPS for the current fiscal year.

Insider Activity at Energy Vault

In other news, Director Dylan Hixon bought 27,472 shares of the firm's stock in a transaction on Monday, August 17th. The shares were bought at an average cost of $3.88 per share, for a total transaction of $106,591.36. Following the completion of the transaction, the director owned 27,472 shares in the company, valued at $106,591.36. This trade represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Stephanie Unwin sold 115,000 shares of the business's stock in a transaction dated Wednesday, August 26th. The stock was sold at an average price of $3.71, for a total transaction of $426,650.00. Following the completion of the sale, the director owned 182,245 shares in the company, valued at $676,128.95. This represents a 38.69% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 17.20% of the stock is owned by insiders.

Hedge Funds Weigh In On Energy Vault

Institutional investors have recently added to or reduced their stakes in the company. Sterling Capital Management LLC increased its position in shares of Energy Vault by 153.2% during the third quarter. Sterling Capital Management LLC now owns 9,111 shares of the company's stock worth $36,000 after acquiring an additional 5,512 shares during the last quarter. Quantbot Technologies LP acquired a new position in shares of Energy Vault in the 2nd quarter valued at approximately $50,000. Hsbc Holdings PLC purchased a new position in shares of Energy Vault during the 2nd quarter valued at approximately $57,000. Calamos Advisors LLC purchased a new position in shares of Energy Vault during the 1st quarter valued at approximately $48,000. Finally, Seros Financial LLC acquired a new stake in shares of Energy Vault during the second quarter worth approximately $74,000. Institutional investors and hedge funds own 40.03% of the company's stock.

About Energy Vault

Energy Vault Holdings, Inc. develops energy storage systems designed to help utilities, power producers and other customers store electricity and deliver it when needed. Its offerings include gravity-based storage systems, which use mechanical processes to store and release energy, as well as battery energy storage systems and hybrid solutions. The company also provides VaultOS, a software platform for monitoring and managing energy storage assets. Its systems are intended to support renewable energy integration, grid stability and other energy management needs.

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