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

Eos Energy Enterprises, Inc. (NASDAQ:EOSE) was the recipient of some unusual options trading on Thursday. Investors purchased 193,463 call options on the stock. This represents an increase of approximately 94% compared to the typical daily volume of 99,558 call options.

Eos Energy Enterprises Stock Down 35.9%

Eos Energy Enterprises stock traded down $4.00 during mid-day trading on Thursday, hitting $7.13. 84,228,901 shares of the stock were exchanged, compared to its average volume of 21,386,477. Eos Energy Enterprises has a 12 month low of $3.07 and a 12 month high of $19.86. The firm’s fifty day simple moving average is $13.58 and its two-hundred day simple moving average is $12.53. The stock has a market capitalization of $2.06 billion, a price-to-earnings ratio of -0.84 and a beta of 2.13.

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

Analysts Set New Price Targets

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

Insider Transactions at Eos Energy Enterprises

In related news, CFO Nathan Kroeker sold 50,000 shares of the firm’s stock in a transaction on Monday, January 26th. The stock was sold at an average price of $16.04, for a total transaction of $802,000.00. Following the transaction, the chief financial officer directly owned 662,512 shares in the company, valued at $10,626,692.48. This trade represents a 7.02% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Marian Walters sold 50,000 shares of the business’s stock in a transaction on Thursday, December 4th. The shares were sold at an average price of $15.81, for a total transaction of $790,500.00. Following the sale, the director owned 135,334 shares of the company’s stock, valued at approximately $2,139,630.54. The trade was a 26.98% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders sold 907,801 shares of company stock worth $13,803,507. 3.30% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Eos Energy Enterprises

Several large investors have recently added to or reduced their stakes in EOSE. Rubric Capital Management LP purchased a new stake in Eos Energy Enterprises in the 3rd quarter worth about $117,317,000. Vanguard Group Inc. increased its stake in shares of Eos Energy Enterprises by 19.8% during the fourth quarter. Vanguard Group Inc. now owns 18,616,874 shares of the company’s stock worth $213,349,000 after purchasing an additional 3,080,012 shares in the last quarter. Geode Capital Management LLC raised its position in shares of Eos Energy Enterprises by 101.4% during the 2nd quarter. Geode Capital Management LLC now owns 5,407,930 shares of the company’s stock worth $27,692,000 after purchasing an additional 2,722,495 shares during the last quarter. Engineers Gate Manager LP purchased a new position in Eos Energy Enterprises in the 2nd quarter valued at about $11,840,000. Finally, Electron Capital Partners LLC lifted its stake in Eos Energy Enterprises by 39.9% in the 2nd quarter. Electron Capital Partners LLC now owns 6,979,422 shares of the company’s stock valued at $35,735,000 after buying an additional 1,989,144 shares in the last quarter. Hedge funds and other institutional investors own 54.87% of the company’s stock.

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.