Stock Traders Purchase High Volume of Call Options on Eos Energy Enterprises (NASDAQ:EOSE)

Eos Energy Enterprises, Inc. (NASDAQ:EOSE) was the target of some unusual options trading on Tuesday. Investors purchased 65,831 call options on the stock. This is an increase of approximately 140% compared to the typical volume of 27,402 call options.

Eos Energy Enterprises Stock Down 10.4%

Shares of NASDAQ EOSE traded down $0.67 during mid-day trading on Tuesday, reaching $5.72. 11,122,374 shares of the company were exchanged, compared to its average volume of 7,744,673. The stock has a market capitalization of $1.30 billion, a PE ratio of -2.36 and a beta of 2.11. Eos Energy Enterprises has a 52 week low of $0.66 and a 52 week high of $7.36. The company’s 50 day moving average price is $5.00 and its 200 day moving average price is $4.57.

Eos Energy Enterprises (NASDAQ:EOSE) last announced its quarterly earnings data on Tuesday, May 6th. The company reported ($0.20) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.19) by ($0.01). The company had revenue of $10.46 million during the quarter, compared to the consensus estimate of $11.77 million. On average, sell-side analysts predict that Eos Energy Enterprises will post -2.54 earnings per share for the current year.

Insider Buying and Selling at Eos Energy Enterprises

In other news, CEO Joe Mastrangelo sold 270,384 shares of the company’s stock in a transaction on Friday, May 16th. The shares were sold at an average price of $6.86, for a total transaction of $1,854,834.24. Following the completion of the transaction, the chief executive officer now directly owns 1,109,409 shares in the company, valued at approximately $7,610,545.74. This represents a 19.60% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, General Counsel Michael W. Silberman sold 100,943 shares of the stock in a transaction dated Friday, May 16th. The stock was sold at an average price of $6.86, for a total transaction of $692,468.98. Following the transaction, the general counsel now directly owns 161,404 shares in the company, valued at $1,107,231.44. This trade represents a 38.48% decrease in their position. The disclosure for this sale can be found here. Insiders sold 560,356 shares of company stock valued at $3,844,042 in the last quarter. 3.63% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the company. WESPAC Advisors LLC boosted its stake in shares of Eos Energy Enterprises by 16.6% in the 4th quarter. WESPAC Advisors LLC now owns 12,647 shares of the company’s stock worth $61,000 after buying an additional 1,798 shares during the last quarter. Wells Fargo & Company MN boosted its position in Eos Energy Enterprises by 3.6% in the fourth quarter. Wells Fargo & Company MN now owns 62,075 shares of the company’s stock worth $302,000 after purchasing an additional 2,175 shares during the last quarter. Montag A & Associates Inc. grew its stake in shares of Eos Energy Enterprises by 21.0% during the 4th quarter. Montag A & Associates Inc. now owns 13,809 shares of the company’s stock valued at $67,000 after purchasing an additional 2,400 shares during the period. Carmel Capital Partners LLC increased its position in shares of Eos Energy Enterprises by 24.5% during the 1st quarter. Carmel Capital Partners LLC now owns 12,450 shares of the company’s stock valued at $47,000 after purchasing an additional 2,450 shares during the last quarter. Finally, Meridian Wealth Management LLC lifted its stake in shares of Eos Energy Enterprises by 2.6% in the 1st quarter. Meridian Wealth Management LLC now owns 102,400 shares of the company’s stock worth $387,000 after purchasing an additional 2,600 shares during the period. Hedge funds and other institutional investors own 54.87% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have weighed in on EOSE. Roth Capital downgraded shares of Eos Energy Enterprises from a “strong-buy” rating to a “hold” rating in a report on Thursday, February 20th. Roth Mkm lowered Eos Energy Enterprises from a “buy” rating to a “neutral” rating and increased their price objective for the company from $4.00 to $5.00 in a report on Thursday, February 20th. Cowen reaffirmed a “hold” rating on shares of Eos Energy Enterprises in a research report on Friday, March 7th. Finally, Guggenheim restated a “buy” rating and issued a $7.00 price objective on shares of Eos Energy Enterprises in a research note on Tuesday, March 18th. Four research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $6.00.

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.