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

Eos Energy Enterprises, Inc. (NASDAQ:EOSE) saw some unusual options trading on Wednesday. Stock traders purchased 67,551 call options on the stock. This is an increase of 418% compared to the typical volume of 13,043 call options.

Insider Activity

In other news, Director Jeffrey S. Bornstein sold 30,000 shares of the company’s stock in a transaction that occurred on Thursday, September 12th. The stock was sold at an average price of $2.62, for a total value of $78,600.00. Following the completion of the transaction, the director now directly owns 84,929 shares of the company’s stock, valued at $222,513.98. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other Eos Energy Enterprises news, Director Jeffrey S. Bornstein sold 30,000 shares of the stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $2.62, for a total transaction of $78,600.00. Following the completion of the transaction, the director now directly owns 84,929 shares of the company’s stock, valued at approximately $222,513.98. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Joe Mastrangelo acquired 52,800 shares of Eos Energy Enterprises stock in a transaction on Friday, August 9th. The shares were purchased at an average cost of $1.43 per share, with a total value of $75,504.00. Following the completion of the acquisition, the chief executive officer now owns 909,793 shares of the company’s stock, valued at $1,301,003.99. This trade represents a 0.00 % increase in their position. The disclosure for this purchase can be found here. 4.06% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the stock. Duncan Williams Asset Management LLC purchased a new position in shares of Eos Energy Enterprises in the third quarter worth about $62,000. Point72 DIFC Ltd purchased a new position in shares of Eos Energy Enterprises in the second quarter worth about $83,000. Cubist Systematic Strategies LLC increased its holdings in shares of Eos Energy Enterprises by 138,544.3% in the second quarter. Cubist Systematic Strategies LLC now owns 134,485 shares of the company’s stock worth $171,000 after buying an additional 134,388 shares during the period. Point72 Asia Singapore Pte. Ltd. purchased a new position in shares of Eos Energy Enterprises in the second quarter worth about $216,000. Finally, NewEdge Advisors LLC increased its holdings in shares of Eos Energy Enterprises by 30.2% in the second quarter. NewEdge Advisors LLC now owns 2,588,823 shares of the company’s stock worth $3,288,000 after buying an additional 600,143 shares during the period. Hedge funds and other institutional investors own 54.87% of the company’s stock.

Eos Energy Enterprises Price Performance

NASDAQ EOSE traded up $0.09 during trading hours on Wednesday, reaching $3.45. 10,289,285 shares of the stock traded hands, compared to its average volume of 6,733,444. The stock has a 50 day simple moving average of $2.47 and a two-hundred day simple moving average of $1.60. Eos Energy Enterprises has a 1 year low of $0.61 and a 1 year high of $3.66. The company has a market cap of $718.04 million, a price-to-earnings ratio of -2.30 and a beta of 2.40.

Eos Energy Enterprises (NASDAQ:EOSE) last released its quarterly earnings results on Tuesday, August 6th. The company reported ($0.30) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.19) by ($0.11). The business had revenue of $0.90 million during the quarter, compared to analyst estimates of $4.38 million. On average, sell-side analysts forecast that Eos Energy Enterprises will post -0.78 EPS for the current fiscal year.

Analyst Ratings Changes

EOSE has been the topic of a number of recent analyst reports. B. Riley upgraded Eos Energy Enterprises to a “hold” rating in a research report on Tuesday, June 25th. Stifel Nicolaus reiterated a “buy” rating and issued a $6.00 price objective on shares of Eos Energy Enterprises in a research report on Wednesday, August 21st. Finally, Roth Mkm reiterated a “buy” rating and issued a $4.50 price objective on shares of Eos Energy Enterprises in a research report on Friday, June 28th. Two research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $3.67.

About Eos Energy Enterprises

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.