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

Key Points

• Traders purchased 123,595 call options for Eos Energy Enterprises, marking a 49% increase from its average volume of 82,871.
• The company's stock price rose to $16.08, with a significant trading volume of over 44 million shares, compared to its usual 12.6 million.
• Insider transactions revealed that CEO Joe Mastrangelo and CFO Nathan Kroeker sold significant shares, leading to a 10.62% and 13.96% decrease in their ownership, respectively.

Eos Energy Enterprises, Inc. (NASDAQ:EOSE - Get Free Report) was the target of some unusual options trading on Tuesday. Stock investors purchased 123,595 call options on the stock. This is an increase of approximately 49% compared to the average volume of 82,871 call options.

Eos Energy Enterprises Price Performance

Shares of Eos Energy Enterprises stock traded up $1.07 during trading hours on Tuesday, hitting $16.08. The company's stock had a trading volume of 44,332,361 shares, compared to its average volume of 12,619,896. Eos Energy Enterprises has a 12 month low of $2.06 and a 12 month high of $19.05. The stock has a 50 day moving average of $9.73 and a 200 day moving average of $6.76. The company has a market capitalization of $4.18 billion, a PE ratio of -3.07 and a beta of 2.29.

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 (EPS) for the quarter, missing analysts' consensus estimates of ($0.17) by ($0.88). The company had revenue of $15.24 million during the quarter, compared to analyst estimates of $24.96 million. Eos Energy Enterprises has set its FY 2025 guidance at EPS. Equities analysts expect that Eos Energy Enterprises will post -2.54 EPS for the current year.

Insider Buying and Selling at Eos Energy Enterprises

In other Eos Energy Enterprises news, CEO Joe Mastrangelo sold 166,667 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 value of $990,001.98. Following the transaction, the chief executive officer owned 1,403,226 shares of the company's stock, valued at approximately $8,335,162.44. This represents a 10.62% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Nathan Kroeker sold 99,375 shares of the stock in a transaction dated Tuesday, July 29th. The shares were sold at an average price of $5.94, for a total value of $590,287.50. Following the completion of the transaction, the chief financial officer directly owned 612,512 shares in the company, valued at $3,638,321.28. The trade was a 13.96% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 484,668 shares of company stock valued at $3,027,014 over the last ninety days. Company insiders own 3.30% of the company's stock.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the stock. Farther Finance Advisors LLC grew its stake in Eos Energy Enterprises by 33.0% in the third quarter. Farther Finance Advisors LLC now owns 3,325 shares of the company's stock valued at $38,000 after purchasing an additional 825 shares in the last quarter. SBI Securities Co. Ltd. grew its stake in Eos Energy Enterprises by 23.6% in the second quarter. SBI Securities Co. Ltd. now owns 12,444 shares of the company's stock valued at $64,000 after purchasing an additional 2,379 shares in the last quarter. Carmel Capital Partners LLC grew its stake in Eos Energy Enterprises by 24.5% in the first quarter. Carmel Capital Partners LLC now owns 12,450 shares of the company's stock valued at $47,000 after purchasing an additional 2,450 shares in the last quarter. CWM LLC grew its stake in Eos Energy Enterprises by 162.9% in the third quarter. CWM LLC now owns 3,994 shares of the company's stock valued at $45,000 after purchasing an additional 2,475 shares in the last quarter. Finally, Teacher Retirement System of Texas grew its stake in Eos Energy Enterprises by 7.9% in the second quarter. Teacher Retirement System of Texas now owns 34,348 shares of the company's stock valued at $176,000 after purchasing an additional 2,501 shares in the last quarter. 54.87% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research firms have weighed in on EOSE. Stifel Nicolaus increased their target price on Eos Energy Enterprises from $10.00 to $22.00 and gave the company a "buy" rating in a research note on Wednesday, October 15th. Wall Street Zen lowered Eos Energy Enterprises from a "hold" rating to a "sell" rating in a research note on Sunday, August 3rd. Zacks Research raised Eos Energy Enterprises from a "strong sell" rating to a "hold" rating in a research note on Tuesday, September 30th. Weiss Ratings reissued a "sell (d-)" rating on shares of Eos Energy Enterprises in a research note on Wednesday, October 8th. Finally, Guggenheim increased their price target on Eos Energy Enterprises from $6.00 to $10.00 and gave the stock a "buy" rating in a report on Friday, September 5th. Two equities research analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Hold" and a consensus target price of $9.58.

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.

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