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

Eos Energy Enterprises, Inc. (NASDAQ:EOSE - Get Free Report) saw some unusual options trading on Friday. Stock investors purchased 89,269 call options on the stock. This is an increase of approximately 141% compared to the typical daily volume of 37,019 call options.

Analysts Set New Price Targets

A number of research firms have recently issued reports on EOSE. Wall Street Zen downgraded Eos Energy Enterprises from a "hold" rating to a "sell" rating in a research report on Saturday, July 5th. Stifel Nicolaus cut their price objective on Eos Energy Enterprises from $9.00 to $8.50 and set a "buy" rating on the stock in a report on Monday, June 9th. TD Cowen raised Eos Energy Enterprises to a "hold" rating in a report on Monday, June 23rd. Finally, Guggenheim dropped their target price on Eos Energy Enterprises from $7.00 to $6.00 and set a "buy" rating on the stock in a report on Monday, June 2nd. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and two have assigned a buy rating to the company. According to MarketBeat, the company has a consensus rating of "Hold" and an average target price of $6.50.

Eos Energy Enterprises Stock Up 10.8%

NASDAQ:EOSE traded up $0.57 on Friday, reaching $5.87. 41,999,808 shares of the company's stock were exchanged, compared to its average volume of 8,853,074. The business has a fifty day moving average of $5.04 and a 200-day moving average of $4.90. Eos Energy Enterprises has a 52-week low of $1.40 and a 52-week high of $7.36. The firm has a market capitalization of $1.34 billion, a price-to-earnings ratio of -1.33 and a beta of 2.01.

Eos Energy Enterprises (NASDAQ:EOSE - Get Free Report) last released its 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 company had revenue of $10.46 million during the quarter, compared to analysts' expectations of $11.77 million. As a group, equities analysts anticipate that Eos Energy Enterprises will post -2.54 earnings per share for the current year.

Insiders Place Their Bets

In other news, General Counsel Michael W. Silberman sold 100,943 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 transaction of $692,468.98. Following the transaction, the general counsel owned 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 transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CAO Sumeet Puri sold 36,173 shares of the business's 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 $248,146.78. Following the transaction, the chief accounting officer directly owned 95,624 shares in the company, valued at approximately $655,980.64. This represents a 27.45% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 758,886 shares of company stock worth $4,827,806 over the last quarter. Company insiders own 3.63% of the company's stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the business. Legal & General Group Plc lifted its position in Eos Energy Enterprises by 61,220.5% during the 4th quarter. Legal & General Group Plc now owns 4,804,461 shares of the company's stock worth $23,350,000 after acquiring an additional 4,796,626 shares during the period. Driehaus Capital Management LLC purchased a new stake in shares of Eos Energy Enterprises in the first quarter valued at $13,456,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new stake in shares of Eos Energy Enterprises in the fourth quarter valued at $16,632,000. Alyeska Investment Group L.P. grew its position in shares of Eos Energy Enterprises by 714.3% in the fourth quarter. Alyeska Investment Group L.P. now owns 1,628,500 shares of the company's stock valued at $7,915,000 after purchasing an additional 1,428,500 shares during the period. Finally, American Financial Group Inc. grew its position in Eos Energy Enterprises by 174.0% during the first quarter. American Financial Group Inc. now owns 1,861,930 shares of the company's stock valued at $7,038,000 after acquiring an additional 1,182,310 shares during the period. 54.87% of the stock is owned by institutional investors and hedge funds.

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.