Investors Purchase Large Volume of Call Options on Eos Energy Enterprises (NASDAQ:EOSE)

Eos Energy Enterprises, Inc. (NASDAQ:EOSE - Get Free Report) was the recipient of some unusual options trading activity on Wednesday. Stock investors purchased 158,708 call options on the stock. This represents an increase of 529% compared to the average volume of 25,226 call options.

Eos Energy Enterprises Stock Up 1.9%

NASDAQ EOSE traded up $0.12 during trading hours on Monday, reaching $6.33. 7,874,162 shares of the company were exchanged, compared to its average volume of 7,625,528. Eos Energy Enterprises has a 1 year low of $0.66 and a 1 year high of $6.89. The business's 50 day simple moving average is $4.50 and its 200-day simple moving average is $4.31. The stock has a market capitalization of $1.43 billion, a P/E ratio of -2.63 and a beta of 2.11.

Eos Energy Enterprises (NASDAQ:EOSE - Get Free Report) last issued its earnings results on Tuesday, May 6th. The company reported ($0.20) earnings per share for the quarter, missing analysts' consensus estimates of ($0.19) by ($0.01). The business had revenue of $10.46 million for the quarter, compared to analysts' expectations of $11.77 million. As a group, sell-side analysts anticipate that Eos Energy Enterprises will post -2.54 earnings per share for the current year.

Institutional Investors Weigh In On Eos Energy Enterprises

A number of institutional investors and hedge funds have recently bought and sold shares of EOSE. Virtu Financial LLC bought a new stake in shares of Eos Energy Enterprises during the 3rd quarter valued at $206,000. Tidal Investments LLC bought a new position in shares of Eos Energy Enterprises during the 3rd quarter valued at approximately $993,000. Lake Street Private Wealth LLC bought a new position in shares of Eos Energy Enterprises during the 4th quarter valued at approximately $51,000. Harel Insurance Investments & Financial Services Ltd. bought a new position in Eos Energy Enterprises in the 4th quarter worth approximately $58,000. Finally, Flagship Private Wealth LLC boosted its position in shares of Eos Energy Enterprises by 68.7% during the 4th quarter. Flagship Private Wealth LLC now owns 55,291 shares of the company's stock valued at $269,000 after acquiring an additional 22,525 shares during the last quarter. 54.87% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research analysts have recently commented on the stock. Cowen reissued a "hold" rating on shares of Eos Energy Enterprises in a research report on Friday, March 7th. Guggenheim reissued a "buy" rating and issued a $7.00 price objective on shares of Eos Energy Enterprises in a report on Tuesday, March 18th. Roth Capital downgraded shares of Eos Energy Enterprises from a "strong-buy" rating to a "hold" rating in a report on Thursday, February 20th. Finally, Roth Mkm cut shares of Eos Energy Enterprises from a "buy" rating to a "neutral" rating and boosted their target price for the company from $4.00 to $5.00 in a research report on Thursday, February 20th. Five equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Hold" and a consensus target price of $4.70.

About Eos Energy Enterprises

Eos Energy Enterprises, Inc designs, manufactures, and markets zinc-based energy storage solutions for utility-scale, microgrid, and commercial and industrial (C&I) applications in the United States. The company offers Znyth technology battery energy storage system (BESS), which provides the operating flexibility to manage increased grid complexity and price volatility.