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

Eos Energy Enterprises, Inc. (NASDAQ:EOSE - Get Free Report) was the target of unusually large options trading on Tuesday. Stock investors purchased 65,831 call options on the company. This is an increase of approximately 140% compared to the average daily volume of 27,402 call options.

Insiders Place Their Bets

In other Eos Energy Enterprises news, insider Nathan Kroeker sold 152,856 shares of the company's 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 transaction, the insider now owns 403,815 shares of the company's stock, valued at $2,770,170.90. This represents a 27.46% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, General Counsel Michael W. Silberman sold 100,943 shares of the company's stock in a transaction dated Friday, May 16th. The stock was sold at an average price of $6.86, for a total value of $692,468.98. Following the completion of the transaction, the general counsel now directly owns 161,404 shares of the company's stock, valued at approximately $1,107,231.44. The trade was a 38.48% decrease in their position. 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 90 days. Corporate insiders own 3.63% of the company's stock.

Institutional Investors Weigh In On Eos Energy Enterprises

Hedge funds and other institutional investors have recently bought and sold shares of the stock. R Squared Ltd acquired a new position in shares of Eos Energy Enterprises during the fourth quarter valued at about $31,000. Stephens Inc. AR acquired a new position in shares of Eos Energy Enterprises during the fourth quarter valued at about $64,000. Vontobel Holding Ltd. acquired a new position in shares of Eos Energy Enterprises during the fourth quarter valued at about $146,000. Montag A & Associates Inc. grew its holdings in shares of Eos Energy Enterprises by 21.0% during the fourth quarter. Montag A & Associates Inc. now owns 13,809 shares of the company's stock valued at $67,000 after buying an additional 2,400 shares during the last quarter. Finally, WESPAC Advisors LLC grew its holdings in shares of Eos Energy Enterprises by 16.6% during the fourth quarter. WESPAC Advisors LLC now owns 12,647 shares of the company's stock valued at $61,000 after buying an additional 1,798 shares during the last quarter. 54.87% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on EOSE shares. Guggenheim reaffirmed a "buy" rating and set a $7.00 price target on shares of Eos Energy Enterprises in a research note on Tuesday, March 18th. Roth Mkm downgraded shares of Eos Energy Enterprises from a "buy" rating to a "neutral" rating and raised their price target for the company from $4.00 to $5.00 in a research note on Thursday, February 20th. Roth Capital downgraded shares of Eos Energy Enterprises from a "strong-buy" rating to a "hold" rating in a research note on Thursday, February 20th. Finally, Cowen reaffirmed a "hold" rating on shares of Eos Energy Enterprises in a research note on Friday, March 7th. Four equities research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price of $6.00.

Eos Energy Enterprises Stock Down 10.2%

EOSE traded down $0.46 during midday trading on Friday, hitting $4.05. The company had a trading volume of 60,690,795 shares, compared to its average volume of 8,241,246. Eos Energy Enterprises has a 52 week low of $0.66 and a 52 week high of $7.36. The company has a market capitalization of $921.74 million, a price-to-earnings ratio of -1.68 and a beta of 2.11. The stock's 50 day moving average price is $5.06 and its 200 day moving average price is $4.62.

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 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 predict that Eos Energy Enterprises will post -2.54 EPS for the current year.

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.