Traders Buy High Volume of Eos Energy Enterprises Call Options (NASDAQ:EOSE)

Eos Energy Enterprises, Inc. (NASDAQ:EOSE - Get Free Report) saw some unusual options trading activity on Monday. Stock traders bought 48,449 call options on the company. This represents an increase of 45% compared to the typical volume of 33,407 call options.

Eos Energy Enterprises Stock Performance

NASDAQ:EOSE traded up $0.15 during mid-day trading on Thursday, reaching $4.58. The stock had a trading volume of 9,176,363 shares, compared to its average volume of 8,736,381. The firm has a 50 day moving average price of $5.14 and a two-hundred day moving average price of $4.76. The stock has a market capitalization of $1.04 billion, a P/E ratio of -1.04 and a beta of 1.97. Eos Energy Enterprises has a one year low of $0.77 and a one year 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 business had revenue of $10.46 million for the quarter, compared to analysts' expectations of $11.77 million. Research analysts forecast that Eos Energy Enterprises will post -2.54 earnings per share for the current year.

Analyst Upgrades and Downgrades

EOSE has been the subject of several recent analyst reports. Cowen reissued a "hold" rating on shares of Eos Energy Enterprises in a report on Friday, March 7th. Stifel Nicolaus cut their price target on shares of Eos Energy Enterprises from $9.00 to $8.50 and set a "buy" rating for the company in a research note on Monday, June 9th. Roth Mkm cut shares of Eos Energy Enterprises from a "buy" rating to a "neutral" rating and raised their price objective for the company from $4.00 to $5.00 in a research report on Thursday, February 20th. 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 report on Monday, June 2nd. Finally, Roth Capital lowered shares of Eos Energy Enterprises from a "strong-buy" rating to a "hold" rating in a research report on Thursday, February 20th. Four investment analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average price target of $6.50.

Insider Activity

In other Eos Energy Enterprises news, insider Nathan Kroeker sold 152,856 shares of the stock in a transaction that occurred on Friday, May 16th. The shares were sold at an average price of $6.86, for a total value of $1,048,592.16. Following the sale, the insider now directly owns 403,815 shares in the company, valued at $2,770,170.90. This represents a 27.46% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CAO Sumeet Puri sold 36,173 shares of the firm's stock in a transaction on Friday, May 16th. The shares were sold at an average price of $6.86, for a total transaction of $248,146.78. Following the completion of the transaction, the chief accounting officer now directly owns 95,624 shares of the company's stock, valued at approximately $655,980.64. The trade was a 27.45% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 560,356 shares of company stock worth $3,844,042. 3.63% of the stock is owned by company insiders.

Hedge Funds Weigh In On Eos Energy Enterprises

Several institutional investors and hedge funds have recently made changes to their positions in the business. Legal & General Group Plc boosted its position in Eos Energy Enterprises by 61,220.5% during the fourth quarter. Legal & General Group Plc now owns 4,804,461 shares of the company's stock valued at $23,350,000 after buying an additional 4,796,626 shares during the period. Driehaus Capital Management LLC purchased a new position in shares of Eos Energy Enterprises in the first quarter worth about $13,456,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new stake in shares of Eos Energy Enterprises in the 4th quarter valued at about $16,632,000. Alyeska Investment Group L.P. boosted its holdings in Eos Energy Enterprises by 714.3% during the 4th quarter. Alyeska Investment Group L.P. now owns 1,628,500 shares of the company's stock valued at $7,915,000 after acquiring an additional 1,428,500 shares during the period. Finally, Barings LLC grew its position in Eos Energy Enterprises by 100.5% during the 4th quarter. Barings LLC now owns 2,403,448 shares of the company's stock worth $11,681,000 after acquiring an additional 1,204,430 shares during the last quarter. Institutional investors own 54.87% of the company's stock.

Eos Energy Enterprises Company Profile

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.