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

Eos Energy Enterprises, Inc. (NASDAQ:EOSE) was the recipient of unusually large options trading activity on Thursday. Investors acquired 84,966 call options on the company. This represents an increase of 49% compared to the typical volume of 57,018 call options.

Insider Transactions at Eos Energy Enterprises

In other news, CEO Joe Mastrangelo sold 250,000 shares of the business’s stock in a transaction dated Wednesday, September 16th. The stock was sold at an average price of $3.92, for a total value of $980,000.00. Following the completion of the sale, the chief executive officer owned 2,308,704 shares of the company’s stock, valued at approximately $9,050,119.68. The trade was a 9.77% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Nathan Kroeker sold 110,417 shares of the stock in a transaction dated Tuesday, July 28th. The shares were sold at an average price of $3.36, for a total value of $371,001.12. Following the sale, the insider owned 887,527 shares of the company’s stock, valued at $2,982,090.72. This represents a 11.06% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last quarter, insiders sold 776,543 shares of company stock worth $3,121,182. Corporate insiders own 1.73% of the company’s stock.

Institutional Investors Weigh In On Eos Energy Enterprises

A number of large investors have recently modified their holdings of the stock. Sequoia Financial Advisors LLC bought a new position in Eos Energy Enterprises in the second quarter worth about $117,000. Tidal Investments LLC boosted its position in Eos Energy Enterprises by 151.0% during the 2nd quarter. Tidal Investments LLC now owns 649,111 shares of the company’s stock valued at $3,817,000 after acquiring an additional 390,461 shares in the last quarter. WINTON GROUP Ltd purchased a new position in shares of Eos Energy Enterprises during the 2nd quarter worth approximately $920,000. Baird Financial Group Inc. raised its position in shares of Eos Energy Enterprises by 9.4% in the 2nd quarter. Baird Financial Group Inc. now owns 863,479 shares of the company’s stock worth $5,077,000 after acquiring an additional 74,338 shares in the last quarter. Finally, Allworth Financial LP raised its position in shares of Eos Energy Enterprises by 198.6% in the 2nd quarter. Allworth Financial LP now owns 4,300 shares of the company’s stock worth $25,000 after acquiring an additional 2,860 shares in the last quarter. Institutional investors own 54.87% of the company’s stock.

Eos Energy Enterprises Stock Down 9.2%

Shares of EOSE traded down $0.33 during mid-day trading on Thursday, hitting $3.25. 53,542,665 shares of the company’s stock traded hands, compared to its average volume of 25,808,117. Eos Energy Enterprises has a 1 year low of $3.01 and a 1 year high of $19.86. The firm has a market capitalization of $1.18 billion, a P/E ratio of -0.48 and a beta of 2.77. The business’s 50-day moving average price is $3.80 and its 200-day moving average price is $5.49.

Eos Energy Enterprises (NASDAQ:EOSE) last announced its quarterly earnings results on Wednesday, August 5th. The company reported ($1.20) EPS for the quarter, missing analysts’ consensus estimates of ($0.19) by ($1.01). The company had revenue of $68.78 million during the quarter, compared to the consensus estimate of $68.32 million. During the same period last year, the firm earned ($1.05) earnings per share. Sell-side analysts anticipate that Eos Energy Enterprises will post -1.28 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several analysts have weighed in on the company. Truist Financial started coverage on Eos Energy Enterprises in a research report on Monday, July 13th. They issued a “buy” rating and a $7.00 price objective for the company. Weiss Ratings reiterated a “sell (d-)” rating on shares of Eos Energy Enterprises in a report on Friday, July 17th. B. Riley Financial dropped their price target on shares of Eos Energy Enterprises from $8.00 to $5.00 and set a “neutral” rating for the company in a research report on Friday, August 14th. Needham & Company LLC cut their price target on shares of Eos Energy Enterprises from $11.00 to $10.00 and set a “buy” rating on the stock in a report on Tuesday, September 15th. Finally, TD Cowen decreased their price objective on shares of Eos Energy Enterprises from $8.00 to $4.00 and set a “hold” rating on the stock in a research report on Thursday, August 6th. One equities research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, Eos Energy Enterprises presently has an average rating of “Hold” and an average price target of $8.19.

Eos Energy Enterprises Company Profile

Eos Energy Enterprises, Inc develops and manufactures long-duration energy storage systems designed to support the reliability and flexibility of electric grids. Its technology is based on aqueous zinc battery chemistry, which is intended to provide a non-flammable alternative to conventional lithium-ion batteries for stationary storage applications.

The company’s primary product platform is the Eos Z3, a modular battery system designed for utility-scale and other large-scale energy storage projects.