Investors Buy 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 unusually large options trading on Monday. Investors acquired 72,130 call options on the stock. Thisisanincreaseof66% compared to the typical daily volume of 43,470 call options.

Insider Activity at Eos Energy Enterprises

In other news, General Counsel Michael W. Silberman sold 65,625 shares of the business's stock in a transaction dated Tuesday, July 29th. The stock was sold at an average price of $5.94, for a total value of $389,812.50. Following the completion of the transaction, the general counsel owned 241,612 shares of the company's stock, valued at $1,435,175.28. The trade was a 21.36% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CAO Sumeet Puri sold 17,500 shares of the stock in a transaction dated Tuesday, July 29th. The stock was sold at an average price of $5.94, for a total transaction of $103,950.00. Following the sale, the chief accounting officer directly owned 136,457 shares in the company, valued at approximately $810,554.58. The trade was a 11.37% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 1,153,053 shares of company stock worth $7,171,858 in the last three months. Company insiders own 3.63% of the company's stock.

Institutional Investors Weigh In On Eos Energy Enterprises

A number of institutional investors have recently modified their holdings of EOSE. Bank of America Corp DE increased its stake in Eos Energy Enterprises by 165.2% during the 4th quarter. Bank of America Corp DE now owns 213,256 shares of the company's stock worth $1,036,000 after buying an additional 132,853 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC acquired a new position in shares of Eos Energy Enterprises during the fourth quarter worth $1,581,000. Raymond James Financial Inc. acquired a new position in shares of Eos Energy Enterprises during the fourth quarter worth $315,000. EVR Research LP purchased a new position in Eos Energy Enterprises in the fourth quarter valued at $1,993,000. Finally, California State Teachers Retirement System acquired a new stake in Eos Energy Enterprises in the fourth quarter valued at $908,000. 54.87% of the stock is owned by institutional investors and hedge funds.

Eos Energy Enterprises Price Performance

EOSE traded down $0.17 during trading hours on Friday, reaching $6.40. The company's stock had a trading volume of 4,445,129 shares, compared to its average volume of 10,520,843. The stock has a market cap of $1.46 billion, a PE ratio of -1.22 and a beta of 2.07. Eos Energy Enterprises has a fifty-two week low of $1.40 and a fifty-two week high of $7.36. The business's 50-day moving average is $5.00 and its 200-day moving average is $4.98.

Eos Energy Enterprises (NASDAQ:EOSE - Get Free Report) last posted its earnings results on Wednesday, July 30th. The company reported ($1.05) EPS for the quarter, missing analysts' consensus estimates of ($0.17) by ($0.88). The business had revenue of $15.24 million during the quarter, compared to the consensus estimate of $24.96 million. Analysts expect that Eos Energy Enterprises will post -2.54 EPS for the current year.

Analyst Upgrades and Downgrades

EOSE has been the subject of several research reports. Stifel Nicolaus dropped 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. Guggenheim dropped their price target 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. TD Cowen lifted their price objective on Eos Energy Enterprises from $5.50 to $6.00 and gave the stock a "hold" rating in a research report on Friday, August 1st. Finally, Wall Street Zen cut Eos Energy Enterprises from a "hold" rating to a "sell" rating in a report on Sunday, August 3rd. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of "Hold" and a consensus price target of $6.38.

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.