Investors Purchase Large Volume of Energy Vault Call Options (NYSE:NRGV)

Energy Vault Holdings, Inc. (NYSE:NRGV - Get Free Report) saw unusually large options trading on Tuesday. Investors purchased 3,079 call options on the stock. This is an increase of approximately 3,247% compared to the average volume of 92 call options.

Institutional Trading of Energy Vault

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Vanguard Group Inc. raised its stake in Energy Vault by 2.7% in the 1st quarter. Vanguard Group Inc. now owns 1,675,361 shares of the company's stock worth $2,999,000 after acquiring an additional 43,764 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. raised its stake in Energy Vault by 17.4% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 242,541 shares of the company's stock worth $434,000 after acquiring an additional 35,935 shares during the last quarter. Jacobs Levy Equity Management Inc. purchased a new position in Energy Vault in the 1st quarter worth $91,000. XTX Topco Ltd raised 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 acquiring an additional 150,948 shares during the last quarter. Finally, Mesirow Financial Investment Management Inc. raised 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 acquiring an additional 20,000 shares during the last quarter. Hedge funds and other institutional investors own 40.03% of the company's stock.

Energy Vault Price Performance

NYSE NRGV traded up $0.01 during midday trading on Tuesday, hitting $1.89. 1,934,092 shares of the company traded hands, compared to its average volume of 773,308. The company has a market cap of $281.33 million, a PE ratio of -3.06 and a beta of 0.65. The company'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.

Energy Vault (NYSE:NRGV - Get Free Report) last announced its earnings results on Tuesday, August 6th. The company reported ($0.18) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.11) by ($0.07). The company had revenue of $3.77 million for the quarter, compared to the consensus estimate 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 last year, the business posted ($0.18) EPS. On average, research analysts predict that Energy Vault will post -0.6 earnings per share for the current year.

Wall Street Analyst Weigh In

Separately, Roth Mkm dropped their price objective on Energy Vault from $2.50 to $2.00 and set a "buy" rating on the stock in a research note on Thursday, August 8th. Two research analysts have rated the stock with a sell rating and four have assigned a buy rating to the stock. According to MarketBeat, Energy Vault presently has a consensus rating of "Hold" and an average price target 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.