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

Eos Energy Enterprises, Inc. (NASDAQ:EOSE) was the recipient of some unusual options trading on Tuesday. Traders bought 63,159 call options on the stock. Thisrepresentsanincreaseof31% compared to the average daily volume of 48,172 call options.

Insider Activity

In other Eos Energy Enterprises news, CEO Joe Mastrangelo sold 166,667 shares of the business’s stock in a transaction that occurred on Tuesday, July 29th. The shares were sold at an average price of $5.94, for a total transaction of $990,001.98. Following the sale, the chief executive officer directly owned 1,403,226 shares of the company’s stock, valued at $8,335,162.44. The trade was a 10.62% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Nathan Kroeker sold 99,375 shares of Eos Energy Enterprises stock in a transaction that occurred on Tuesday, July 29th. The stock was sold at an average price of $5.94, for a total value of $590,287.50. Following the completion of the transaction, the chief financial officer directly owned 612,512 shares in the company, valued at approximately $3,638,321.28. This represents a 13.96% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 592,697 shares of company stock valued at $3,327,816. 3.63% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Eos Energy Enterprises

Large investors have recently modified their holdings of the company. LPL Financial LLC lifted its position in Eos Energy Enterprises by 115.4% in the fourth quarter. LPL Financial LLC now owns 26,875 shares of the company’s stock valued at $131,000 after purchasing an additional 14,400 shares during the last quarter. Wells Fargo & Company MN raised its stake in shares of Eos Energy Enterprises by 3.6% during the fourth quarter. Wells Fargo & Company MN now owns 62,075 shares of the company’s stock valued at $302,000 after acquiring an additional 2,175 shares during the last quarter. Raymond James Financial Inc. purchased a new stake in shares of Eos Energy Enterprises during the fourth quarter worth about $315,000. Barclays PLC increased its holdings in Eos Energy Enterprises by 593.8% during the 4th quarter. Barclays PLC now owns 58,378 shares of the company’s stock valued at $283,000 after purchasing an additional 49,964 shares during the period. Finally, Beacon Pointe Advisors LLC purchased a new stake in Eos Energy Enterprises in the 4th quarter worth approximately $203,000. 54.87% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

EOSE has been the topic of several research analyst reports. Stifel Nicolaus cut their target price on Eos Energy Enterprises from $9.00 to $8.50 and set a “buy” rating on the stock in a research report on Monday, June 9th. TD Cowen raised their price objective on shares of Eos Energy Enterprises from $5.50 to $6.00 and gave the company a “hold” rating in a research note on Friday, August 1st. Guggenheim dropped their price target on shares of Eos Energy Enterprises from $7.00 to $6.00 and set a “buy” rating on the stock in a research report on Monday, June 2nd. Finally, Wall Street Zen lowered Eos Energy Enterprises from a “hold” rating to a “sell” rating in a research report on Sunday, August 3rd. Two research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $6.38.

Eos Energy Enterprises Price Performance

EOSE stock traded up $0.41 during midday trading on Tuesday, reaching $6.68. The company had a trading volume of 10,908,717 shares, compared to its average volume of 10,523,175. The firm has a 50-day moving average price of $5.52 and a 200-day moving average price of $5.01. The company has a market capitalization of $1.73 billion, a P/E ratio of -1.28 and a beta of 2.07. Eos Energy Enterprises has a 1 year low of $2.06 and a 1 year high of $7.36.

Eos Energy Enterprises (NASDAQ:EOSE) last posted its quarterly earnings data on Wednesday, July 30th. The company reported ($1.05) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.17) by ($0.88). The firm had revenue of $15.24 million for the quarter, compared to the consensus estimate of $24.96 million. Eos Energy Enterprises has set its FY 2025 guidance at EPS. On average, equities analysts predict that Eos Energy Enterprises will post -2.54 EPS for the current year.

Eos Energy Enterprises Company Profile

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.