Investors Buy Large Volume of Call Options on Eos Energy Enterprises (NASDAQ:EOSE)

Eos Energy Enterprises, Inc. (NASDAQ:EOSE - Get Free Report) was the recipient of unusually large options trading on Friday. Stock traders acquired 89,269 call options on the stock. This represents an increase of 141% compared to the average volume of 37,019 call options.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the company. TD Cowen upgraded Eos Energy Enterprises to a "hold" rating in a report on Monday, June 23rd. Wall Street Zen downgraded Eos Energy Enterprises from a "hold" rating to a "sell" rating in a report on Saturday, July 5th. Guggenheim decreased their target price on Eos Energy Enterprises from $7.00 to $6.00 and set a "buy" rating for the company in a research report on Monday, June 2nd. Finally, Stifel Nicolaus decreased their target price on Eos Energy Enterprises from $9.00 to $8.50 and set a "buy" rating for the company in a research report on Monday, June 9th. One analyst has rated the stock with a sell rating, four have given a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average target price of $6.50.

Eos Energy Enterprises Price Performance

NASDAQ:EOSE traded up $0.03 during midday trading on Monday, reaching $5.90. 13,350,120 shares of the company traded hands, compared to its average volume of 8,890,511. Eos Energy Enterprises has a twelve month low of $1.40 and a twelve month high of $7.36. The firm has a market capitalization of $1.34 billion, a price-to-earnings ratio of -1.35 and a beta of 2.01. The company has a fifty day moving average price of $5.04 and a 200 day moving average price of $4.90.

Eos Energy Enterprises (NASDAQ:EOSE - Get Free Report) last released its quarterly earnings data 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 company had revenue of $10.46 million during the quarter, compared to analyst estimates of $11.77 million. On average, equities research analysts forecast that Eos Energy Enterprises will post -2.54 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, General Counsel Michael W. Silberman sold 100,943 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 transaction of $692,468.98. Following the completion of the sale, the general counsel owned 161,404 shares of the company's stock, valued at approximately $1,107,231.44. This represents a 38.48% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Joe Mastrangelo sold 270,384 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 transaction of $1,854,834.24. Following the completion of the sale, the chief executive officer directly owned 1,109,409 shares of the company's stock, valued at $7,610,545.74. This trade represents a 19.60% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 758,886 shares of company stock valued at $4,827,806. 3.63% of the stock is owned by corporate insiders.

Institutional Trading of Eos Energy Enterprises

Several hedge funds have recently added to or reduced their stakes in EOSE. J. Safra Sarasin Holding AG bought a new stake in shares of Eos Energy Enterprises in the 2nd quarter worth $192,000. Janney Montgomery Scott LLC bought a new stake in shares of Eos Energy Enterprises in the 2nd quarter worth $59,000. MCF Advisors LLC raised its stake in shares of Eos Energy Enterprises by 12.1% in the 2nd quarter. MCF Advisors LLC now owns 32,611 shares of the company's stock worth $167,000 after buying an additional 3,518 shares in the last quarter. Wealth Enhancement Advisory Services LLC raised its stake in shares of Eos Energy Enterprises by 9.8% in the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 55,290 shares of the company's stock worth $281,000 after buying an additional 4,923 shares in the last quarter. Finally, Integrity Alliance LLC. bought a new stake in shares of Eos Energy Enterprises in the 1st quarter worth $113,000. 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.