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

Key Points

• Eos Energy Enterprises experienced a significant surge in options trading, with 72,130 call options purchased on Monday, a 66% increase over the average volume.
• The company's stock rose by 12.7% to reach $6.21, accompanied by a trading volume of over 15 million shares.
• Eos Energy reported (1.05) earnings per share, missing analyst expectations and prompting several research firms to adjust their ratings, with Wall Street Zen downgrading the stock to "sell."

Eos Energy Enterprises, Inc. (NASDAQ:EOSE - Get Free Report) saw some unusual options trading activity on Monday. Investors purchased 72,130 call options on the stock. Thisisanincreaseof66% compared to the typical daily volume of 43,470 call options.

Analyst Ratings Changes

EOSE has been the topic of a number of research reports. TD Cowen upped their price target on shares of Eos Energy Enterprises from $5.50 to $6.00 and gave the stock a "hold" rating in a research note on Friday, August 1st. Stifel Nicolaus lowered their target price on shares of Eos Energy Enterprises from $9.00 to $8.50 and set a "buy" rating on the stock in a research report on Monday, June 9th. Guggenheim lowered their target price on shares of Eos Energy Enterprises from $7.00 to $6.00 and set a "buy" rating on the stock in a research report on Monday, June 2nd. Finally, Wall Street Zen downgraded shares of Eos Energy Enterprises from a "hold" rating to a "sell" rating in a research report on Sunday. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and two have given a buy rating to the company. According to MarketBeat, Eos Energy Enterprises currently has an average rating of "Hold" and a consensus target price of $6.38.

Insider Activity at Eos Energy Enterprises

In other Eos Energy Enterprises news, CEO Joe Mastrangelo sold 166,667 shares of the business's stock in a transaction on Tuesday, July 29th. The shares were sold at an average price of $5.94, for a total transaction of $990,001.98. Following the sale, the chief executive officer directly owned 1,403,226 shares of the company's stock, valued at $8,335,162.44. The trade was a 10.62% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, General Counsel Michael W. Silberman sold 65,625 shares of the business's stock in a transaction on Tuesday, July 29th. The shares were sold at an average price of $5.94, for a total transaction of $389,812.50. Following the sale, the general counsel directly owned 241,612 shares in the company, valued at approximately $1,435,175.28. This trade represents a 21.36% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 1,153,053 shares of company stock worth $7,171,858. Insiders own 3.63% of the company's stock.

Institutional Trading of Eos Energy Enterprises

Hedge funds have recently modified their holdings of the company. Amalgamated Bank acquired a new stake in shares of Eos Energy Enterprises in the second quarter valued at approximately $39,000. Baxter Bros Inc. acquired a new stake in shares of Eos Energy Enterprises in the second quarter valued at approximately $51,000. KBC Group NV acquired a new stake in shares of Eos Energy Enterprises in the first quarter valued at approximately $38,000. SBI Securities Co. Ltd. increased its holdings in shares of Eos Energy Enterprises by 588.0% in the first quarter. SBI Securities Co. Ltd. now owns 10,065 shares of the company's stock valued at $38,000 after purchasing an additional 8,602 shares in the last quarter. Finally, Elevatus Welath Management acquired a new stake in shares of Eos Energy Enterprises in the first quarter valued at approximately $39,000. Institutional investors and hedge funds own 54.87% of the company's stock.

Eos Energy Enterprises Stock Performance

Shares of NASDAQ EOSE traded down $0.14 during mid-day trading on Wednesday, hitting $6.37. 10,278,676 shares of the stock were exchanged, compared to its average volume of 10,503,742. The company has a market cap of $1.45 billion, a P/E ratio of -1.22 and a beta of 2.07. The stock's fifty day simple moving average is $4.95 and its two-hundred day simple moving average is $4.96. Eos Energy Enterprises has a twelve month low of $1.39 and a twelve month high of $7.36.

Eos Energy Enterprises (NASDAQ:EOSE - Get Free Report) last posted its quarterly earnings data on Wednesday, July 30th. The company reported ($1.05) earnings per share for the quarter, missing the consensus estimate of ($0.17) by ($0.88). The firm had revenue of $15.24 million for the quarter, compared to the consensus estimate of $24.96 million. As a group, equities research analysts predict that Eos Energy Enterprises will post -2.54 earnings per share for the current fiscal year.

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.