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

Eos Energy Enterprises, Inc. (NASDAQ:EOSE) was the target of some unusual options trading activity on Monday. Stock investors bought 48,449 call options on the stock. This is an increase of approximately 45% compared to the average daily volume of 33,407 call options.

Insider Activity at Eos Energy Enterprises

In other news, CAO Sumeet Puri sold 36,173 shares of the stock in a transaction dated Friday, May 16th. The stock was sold at an average price of $6.86, for a total value of $248,146.78. Following the completion of the sale, the chief accounting officer now owns 95,624 shares of the company’s stock, valued at approximately $655,980.64. This represents a 27.45% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Nathan Kroeker sold 152,856 shares of the stock in a transaction on Friday, May 16th. The stock was sold at an average price of $6.86, for a total transaction of $1,048,592.16. Following the sale, the insider now owns 403,815 shares of the company’s stock, valued at approximately $2,770,170.90. This trade represents a 27.46% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 560,356 shares of company stock valued at $3,844,042 in the last quarter. Insiders own 3.63% of the company’s stock.

Institutional Investors Weigh In On Eos Energy Enterprises

Several large investors have recently made changes to their positions in the business. WESPAC Advisors LLC grew its position in Eos Energy Enterprises by 16.6% during the fourth quarter. WESPAC Advisors LLC now owns 12,647 shares of the company’s stock valued at $61,000 after acquiring an additional 1,798 shares during the last quarter. Wells Fargo & Company MN lifted its stake in shares of Eos Energy Enterprises by 3.6% in the 4th quarter. Wells Fargo & Company MN now owns 62,075 shares of the company’s stock valued at $302,000 after acquiring an additional 2,175 shares during the last quarter. Montag A & Associates Inc. boosted its holdings in shares of Eos Energy Enterprises by 21.0% during the fourth quarter. Montag A & Associates Inc. now owns 13,809 shares of the company’s stock worth $67,000 after purchasing an additional 2,400 shares during the period. Carmel Capital Partners LLC raised its position in Eos Energy Enterprises by 24.5% during the 1st 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 during the last quarter. Finally, Meridian Wealth Management LLC boosted its position in Eos Energy Enterprises by 2.6% during the 1st quarter. Meridian Wealth Management LLC now owns 102,400 shares of the company’s stock valued at $387,000 after acquiring an additional 2,600 shares in the last quarter. 54.87% of the stock is owned by hedge funds and other institutional investors.

Eos Energy Enterprises Stock Up 14.9%

Shares of Eos Energy Enterprises stock opened at $4.63 on Tuesday. The company has a market cap of $1.05 billion, a PE ratio of -1.92 and a beta of 1.97. Eos Energy Enterprises has a 52 week low of $0.74 and a 52 week high of $7.36. The business has a 50 day moving average price of $5.12 and a 200-day moving average price of $4.77.

Eos Energy Enterprises (NASDAQ:EOSE) last posted 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 business had revenue of $10.46 million for the quarter, compared to analysts’ expectations of $11.77 million. As a group, research analysts anticipate that Eos Energy Enterprises will post -2.54 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on EOSE shares. Stifel Nicolaus decreased their price target 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. Cowen reaffirmed a “hold” rating on shares of Eos Energy Enterprises in a research report on Friday, March 7th. Guggenheim cut their price target 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. Roth Mkm lowered shares of Eos Energy Enterprises from a “buy” rating to a “neutral” rating and boosted their price target for the company from $4.00 to $5.00 in a research note on Thursday, February 20th. Finally, Roth Capital downgraded shares of Eos Energy Enterprises from a “strong-buy” rating to a “hold” rating in a report on Thursday, February 20th. Four equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $6.50.

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.