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

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

Eos Energy Enterprises Price Performance

NASDAQ EOSE traded up $0.60 on Monday, hitting $4.63. The company had a trading volume of 21,276,019 shares, compared to its average volume of 8,713,701. Eos Energy Enterprises has a 12-month low of $0.74 and a 12-month high of $7.36. The company's fifty day moving average price is $5.09 and its 200-day moving average price is $4.75. The company has a market capitalization of $1.05 billion, a PE ratio of -1.92 and a beta of 1.97.

Eos Energy Enterprises (NASDAQ:EOSE - Get Free Report) last posted its quarterly earnings results on Tuesday, May 6th. The company reported ($0.20) earnings per share (EPS) for the quarter, missing analysts' consensus estimates 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. On average, sell-side analysts anticipate that Eos Energy Enterprises will post -2.54 EPS for the current year.

Analysts Set New Price Targets

A number of equities analysts have recently commented on EOSE shares. Guggenheim dropped their target price on Eos Energy Enterprises from $7.00 to $6.00 and set a "buy" rating for the company in a report on Monday, June 2nd. Stifel Nicolaus reduced their price objective 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 Capital cut shares of Eos Energy Enterprises from a "strong-buy" rating to a "hold" rating in a report on Thursday, February 20th. Roth Mkm downgraded Eos Energy Enterprises from a "buy" rating to a "neutral" rating and raised their price target for the stock from $4.00 to $5.00 in a report on Thursday, February 20th. Finally, Cowen reaffirmed a "hold" rating on shares of Eos Energy Enterprises in a report on Friday, March 7th. Four investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus price target of $6.50.

Insider Activity at Eos Energy Enterprises

In related news, General Counsel Michael W. Silberman sold 100,943 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 transaction of $692,468.98. Following the sale, the general counsel now owns 161,404 shares of the company's stock, valued at approximately $1,107,231.44. This trade represents a 38.48% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Nathan Kroeker sold 152,856 shares of Eos Energy Enterprises stock in a transaction dated Friday, May 16th. The stock was sold at an average price of $6.86, for a total value of $1,048,592.16. Following the completion of the sale, the insider now directly owns 403,815 shares in the company, valued at $2,770,170.90. This trade represents a 27.46% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 560,356 shares of company stock valued at $3,844,042 in the last three months. Company insiders own 3.63% of the company's stock.

Institutional Investors Weigh In On Eos Energy Enterprises

Hedge funds have recently modified their holdings of the company. Parkside Financial Bank & Trust acquired a new position in shares of Eos Energy Enterprises in the 4th quarter valued at $29,000. Carmel Capital Partners LLC purchased a new position in shares of Eos Energy Enterprises during the fourth quarter worth $49,000. KBC Group NV acquired a new position in Eos Energy Enterprises in the 1st quarter valued at about $38,000. SBI Securities Co. Ltd. increased its stake in 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 buying an additional 8,602 shares during the period. Finally, Elevatus Welath Management purchased a new position in Eos Energy Enterprises in the first quarter valued at $39,000. Hedge funds and other 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.

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