Eos Energy Enterprises Sees Unusually Large Options Volume (NASDAQ:EOSE)

Eos Energy Enterprises, Inc. (NASDAQ:EOSE) was the recipient of unusually large options trading activity on Friday. Traders acquired 89,269 call options on the company. This represents an increase of approximately 141% compared to the typical daily volume of 37,019 call options.

Insider Buying and Selling at Eos Energy Enterprises

In other Eos Energy Enterprises news, CEO Joe Mastrangelo sold 127,152 shares of Eos Energy Enterprises stock in a transaction on Tuesday, July 8th. The shares were sold at an average price of $4.92, for a total transaction of $625,587.84. Following the sale, the chief executive officer owned 1,236,560 shares in the company, valued at $6,083,875.20. The trade was a 9.32% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, General Counsel Michael W. Silberman sold 100,943 shares of Eos Energy Enterprises stock in a transaction on Friday, May 16th. The stock was sold at an average price of $6.86, for a total transaction of $692,468.98. Following the sale, the general counsel owned 161,404 shares in the company, valued at $1,107,231.44. This represents a 38.48% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 758,886 shares of company stock worth $4,827,806 over the last three months. 3.63% of the stock is currently owned by corporate insiders.

Institutional Trading of Eos Energy Enterprises

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its holdings in Eos Energy Enterprises by 0.6% during the 1st quarter. Vanguard Group Inc. now owns 10,362,810 shares of the company’s stock worth $39,171,000 after purchasing an additional 59,762 shares during the last quarter. Stifel Financial Corp raised its holdings in Eos Energy Enterprises by 6.4% during the 4th quarter. Stifel Financial Corp now owns 4,978,078 shares of the company’s stock worth $24,193,000 after purchasing an additional 297,909 shares during the last quarter. Legal & General Group Plc raised its holdings in Eos Energy Enterprises by 61,220.5% during the 4th quarter. Legal & General Group Plc now owns 4,804,461 shares of the company’s stock worth $23,350,000 after purchasing an additional 4,796,626 shares during the last quarter. Goldman Sachs Group Inc. raised its holdings in Eos Energy Enterprises by 36.8% during the 1st quarter. Goldman Sachs Group Inc. now owns 3,900,513 shares of the company’s stock worth $14,744,000 after purchasing an additional 1,050,128 shares during the last quarter. Finally, Driehaus Capital Management LLC bought a new stake in Eos Energy Enterprises during the 1st quarter worth about $13,456,000. 54.87% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on the stock. Guggenheim reduced 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 note on Monday, June 2nd. Stifel Nicolaus reduced 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 note on Monday, June 9th. TD Cowen upgraded shares of Eos Energy Enterprises to a “hold” rating in a research note on Monday, June 23rd. Finally, Wall Street Zen downgraded shares of Eos Energy Enterprises from a “hold” rating to a “sell” rating in a research note on Saturday, July 5th. 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 stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $6.50.

Eos Energy Enterprises Stock Up 10.8%

Eos Energy Enterprises stock opened at $5.87 on Friday. The stock has a 50-day simple moving average of $5.04 and a 200 day simple moving average of $4.90. Eos Energy Enterprises has a 12-month low of $1.40 and a 12-month high of $7.36. The stock has a market capitalization of $1.34 billion, a price-to-earnings ratio of -1.33 and a beta of 2.01.

Eos Energy Enterprises (NASDAQ:EOSE) last released its quarterly earnings results 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. As a group, sell-side analysts anticipate that Eos Energy Enterprises will post -2.54 EPS for the current year.

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.