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

Eos Energy Enterprises, Inc. (NASDAQ:EOSE) was the target of unusually large options trading on Thursday. Stock investors purchased 193,463 call options on the company. This represents an increase of approximately 94% compared to the average daily volume of 99,558 call options.

Eos Energy Enterprises Price Performance

NASDAQ EOSE traded down $4.00 during trading hours on Thursday, hitting $7.13. 84,228,901 shares of the company’s stock traded hands, compared to its average volume of 21,386,477. The company has a market capitalization of $2.06 billion, a PE ratio of -0.84 and a beta of 2.13. Eos Energy Enterprises has a 52-week low of $3.07 and a 52-week high of $19.86. The firm’s 50-day moving average is $13.58 and its 200-day moving average is $12.53.

Eos Energy Enterprises (NASDAQ:EOSE) last posted its quarterly earnings results on Thursday, February 26th. The company reported ($0.84) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.20) by ($0.64). The firm had revenue of $58.00 million during the quarter, compared to analyst estimates of $93.36 million. Equities research analysts predict that Eos Energy Enterprises will post -2.54 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several equities analysts recently commented on the stock. Zacks Research upgraded shares of Eos Energy Enterprises from a “strong sell” rating to a “hold” rating in a report on Monday, January 12th. B. Riley Financial boosted their price objective on Eos Energy Enterprises from $8.00 to $12.00 and gave the company a “neutral” rating in a report on Tuesday, November 11th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Eos Energy Enterprises in a research report on Thursday, January 22nd. JPMorgan Chase & Co. initiated coverage on shares of Eos Energy Enterprises in a report on Wednesday, December 17th. They issued a “neutral” rating and a $16.00 price target on the stock. Finally, Wall Street Zen lowered Eos Energy Enterprises from a “hold” rating to a “sell” rating in a report on Saturday, November 8th. Two research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $13.50.

Insider Activity at Eos Energy Enterprises

In related news, Director Marian Walters sold 50,000 shares of the stock in a transaction that occurred on Thursday, December 4th. The stock was sold at an average price of $15.81, for a total transaction of $790,500.00. Following the completion of the transaction, the director directly owned 135,334 shares of the company’s stock, valued at approximately $2,139,630.54. This represents a 26.98% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Michael W. Silberman sold 41,667 shares of the stock in a transaction that occurred on Friday, January 23rd. The shares were sold at an average price of $17.74, for a total value of $739,172.58. Following the transaction, the insider owned 283,279 shares of the company’s stock, valued at $5,025,369.46. This represents a 12.82% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 907,801 shares of company stock worth $13,803,507 in the last three months. Insiders own 3.30% of the company’s stock.

Hedge Funds Weigh In On Eos Energy Enterprises

Several large investors have recently made changes to their positions in EOSE. Invesco Ltd. boosted its position in Eos Energy Enterprises by 7.8% during the fourth quarter. Invesco Ltd. now owns 1,182,863 shares of the company’s stock worth $13,556,000 after purchasing an additional 85,667 shares in the last quarter. Beacon Pointe Advisors LLC grew its stake in Eos Energy Enterprises by 49.4% during the 4th quarter. Beacon Pointe Advisors LLC now owns 97,862 shares of the company’s stock valued at $1,121,000 after purchasing an additional 32,362 shares in the last quarter. Mackenzie Financial Corp boosted its stake in shares of Eos Energy Enterprises by 29.8% during the 4th quarter. Mackenzie Financial Corp now owns 18,166 shares of the company’s stock valued at $206,000 after buying an additional 4,166 shares during the last quarter. VARCOV Co. bought a new position in Eos Energy Enterprises during the 4th quarter valued at $266,000. Finally, Voloridge Investment Management LLC acquired a new stake in shares of Eos Energy Enterprises in the 4th quarter valued at about $2,545,000. 54.87% of the stock is currently owned by institutional investors and hedge funds.

Eos Energy Enterprises Company Profile

Eos Energy Enterprises specializes in the development and deployment of scalable, long-duration energy storage systems designed to support the integration of renewable power and enhance grid reliability. The company’s core technology centers on its proprietary zinc hybrid cathode (Znyth™) battery platform, which aims to deliver safe, low-cost, and durable performance for utility, commercial and industrial, and microgrid applications.

The company’s flagship product, the Aurora™ energy storage system, combines its Znyth™ cells with modular power conversion and controls to offer flexible capacity ranging from one to three hours of discharge duration.