Eos Energy Enterprises (NASDAQ:EOSE) Stock Sees Heavy Call Option Buying

Eos Energy Enterprises, Inc. (NASDAQ:EOSE) saw unusually large options trading activity on Thursday. Stock traders acquired 84,966 call options on the company. This is an increase of 49% compared to the average daily volume of 57,018 call options.

Insider Activity at Eos Energy Enterprises

In other Eos Energy Enterprises news, insider Michael Silberman sold 14,998 shares of the stock in a transaction dated Tuesday, June 30th. The shares were sold at an average price of $5.87, for a total transaction of $88,038.26. Following the transaction, the insider directly owned 298,277 shares in the company, valued at $1,750,885.99. This represents a 4.79% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 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 firm’s stock in a transaction dated Tuesday, July 28th. The shares were sold at an average price of $3.36, for a total transaction of $371,001.12. Following the transaction, the insider directly owned 887,527 shares in the company, valued at $2,982,090.72. This trade represents a 11.06% decrease in their position. 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. Insiders sold 776,543 shares of company stock worth $3,121,182 over the last quarter. Corporate insiders own 1.73% of the company’s stock.

Institutional Investors Weigh In On Eos Energy Enterprises

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Sequoia Financial Advisors LLC purchased a new stake in shares of Eos Energy Enterprises during the second quarter worth about $117,000. Tidal Investments LLC raised its position in shares of Eos Energy Enterprises by 151.0% in the 2nd quarter. Tidal Investments LLC now owns 649,111 shares of the company’s stock valued at $3,817,000 after purchasing an additional 390,461 shares during the last quarter. WINTON GROUP Ltd acquired a new stake in Eos Energy Enterprises in the 2nd quarter worth approximately $920,000. Baird Financial Group Inc. boosted its stake in 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 purchasing an additional 74,338 shares in the last quarter. Finally, Allworth Financial LP grew its position in Eos Energy Enterprises by 198.6% during the 2nd quarter. Allworth Financial LP now owns 4,300 shares of the company’s stock worth $25,000 after purchasing an additional 2,860 shares during the last quarter. 54.87% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on EOSE shares. Truist Financial began coverage on shares of Eos Energy Enterprises in a research note on Monday, July 13th. They issued a “buy” rating and a $7.00 price objective for the company. B. Riley Financial cut their price target on Eos Energy Enterprises from $8.00 to $5.00 and set a “neutral” rating on the stock in a report on Friday, August 14th. Wall Street Zen lowered Eos Energy Enterprises from a “sell” rating to a “strong sell” rating in a research report on Saturday, August 8th. Roth Capital upped their price objective on Eos Energy Enterprises from $4.00 to $4.50 and gave the stock a “neutral” rating in a research note on Thursday, September 10th. Finally, Stifel Nicolaus cut their target price on Eos Energy Enterprises from $10.00 to $9.00 and set a “buy” rating on the stock in a research note on Thursday, August 6th. One research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $8.19.

Eos Energy Enterprises Stock Down 9.5%

Shares of EOSE opened at $3.24 on Friday. The company has a 50 day moving average of $3.79 and a two-hundred day moving average of $5.47. Eos Energy Enterprises has a twelve month low of $3.01 and a twelve month high of $19.86. The company has a market cap of $1.18 billion, a price-to-earnings ratio of -0.47 and a beta of 2.77.

Eos Energy Enterprises (NASDAQ:EOSE) last issued its quarterly earnings results on Wednesday, August 5th. The company reported ($1.20) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.19) by ($1.01). The firm had revenue of $68.78 million during the quarter, compared to analyst estimates of $68.32 million. During the same quarter in the previous year, the firm posted ($1.05) earnings per share. On average, sell-side analysts expect that Eos Energy Enterprises will post -1.28 EPS for the current year.

About Eos Energy Enterprises

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.