Eos Energy Enterprises Target of Unusually Large Options Trading (NASDAQ:EOSE)

Eos Energy Enterprises, Inc. (NASDAQ:EOSE - Get Free Report) was the recipient of some unusual options trading activity on Tuesday. Stock investors acquired 121,928 call options on the company. This is an increase of 264% compared to the typical daily volume of 33,534 call options.

Eos Energy Enterprises Stock Performance

NASDAQ EOSE opened at $5.12 on Tuesday. The stock's fifty day moving average is $5.14 and its two-hundred day moving average is $4.86. The firm has a market capitalization of $1.17 billion, a P/E ratio of -1.16 and a beta of 1.98. Eos Energy Enterprises has a fifty-two week low of $1.37 and a fifty-two week high of $7.36.

Eos Energy Enterprises (NASDAQ:EOSE - Get Free Report) last posted its quarterly earnings results on Tuesday, May 6th. The company reported ($0.20) EPS for the quarter, missing the consensus estimate of ($0.19) by ($0.01). The firm had revenue of $10.46 million during the quarter, compared to analyst estimates of $11.77 million. As a group, sell-side analysts forecast that Eos Energy Enterprises will post -2.54 EPS for the current year.

Insider Activity at Eos Energy Enterprises

In other news, CAO Sumeet Puri sold 36,173 shares of Eos Energy Enterprises stock in a transaction that occurred on Friday, May 16th. The stock was sold at an average price of $6.86, for a total value of $248,146.78. Following the sale, the chief accounting officer directly owned 95,624 shares of the company's stock, valued at $655,980.64. The trade was a 27.45% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Joe Mastrangelo sold 270,384 shares of the business's stock in a transaction that occurred on Friday, May 16th. The stock was sold at an average price of $6.86, for a total value of $1,854,834.24. Following the sale, the chief executive officer owned 1,109,409 shares of the company's stock, valued at $7,610,545.74. The trade was a 19.60% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 560,356 shares of company stock valued at $3,844,042. 3.63% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Eos Energy Enterprises

Several institutional investors and hedge funds have recently bought and sold shares of EOSE. Parkside Financial Bank & Trust purchased a new stake in shares of Eos Energy Enterprises during the 4th quarter valued at approximately $29,000. Carmel Capital Partners LLC acquired a new position in shares of Eos Energy Enterprises in the 4th quarter valued at $49,000. KBC Group NV purchased a new position in shares of Eos Energy Enterprises during the 1st quarter worth $38,000. SBI Securities Co. Ltd. grew its holdings in shares of Eos Energy Enterprises by 588.0% during the 1st quarter. SBI Securities Co. Ltd. now owns 10,065 shares of the company's stock worth $38,000 after purchasing an additional 8,602 shares during the period. Finally, Elevatus Welath Management acquired a new stake in shares of Eos Energy Enterprises during the 1st quarter worth about $39,000. 54.87% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the stock. Cowen reaffirmed a "hold" rating on shares of Eos Energy Enterprises in a research note on Friday, March 7th. Stifel Nicolaus decreased their price target on shares of Eos Energy Enterprises from $9.00 to $8.50 and set a "buy" rating on the stock in a research note on Monday, June 9th. TD Cowen upgraded shares of Eos Energy Enterprises to a "hold" rating in a research report on Monday, June 23rd. Finally, Guggenheim dropped their price objective on shares of Eos Energy Enterprises from $7.00 to $6.00 and set a "buy" rating for the company in a research note on Monday, June 2nd. Four analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of "Hold" and an average target price of $6.50.

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.

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