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

Eos Energy Enterprises, Inc. (NASDAQ:EOSEGet Free Report) was the target of some unusual options trading activity on Thursday. Stock investors purchased 118,691 call options on the stock. This represents an increase of approximately 38% compared to the average daily volume of 85,938 call options.

Insiders Place Their Bets

In other news, insider Michael W. Silberman sold 41,667 shares of the company’s stock in a transaction on Friday, January 23rd. The shares were sold at an average price of $17.74, for a total value of $739,172.58. Following the completion of the transaction, the insider owned 283,279 shares in the company, valued at approximately $5,025,369.46. This represents a 12.82% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Joe Mastrangelo bought 60,000 shares of the stock in a transaction dated Monday, March 2nd. The stock was bought at an average price of $5.75 per share, with a total value of $345,000.00. Following the acquisition, the chief executive officer owned 1,463,226 shares in the company, valued at approximately $8,413,549.50. This represents a 4.28% increase in their position. The disclosure for this purchase is available in the SEC filing. In the last 90 days, insiders have acquired 115,150 shares of company stock worth $692,962. 3.30% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Eos Energy Enterprises

A number of large investors have recently bought and sold shares of EOSE. Millennium Management LLC raised its position in Eos Energy Enterprises by 55.1% during the 1st quarter. Millennium Management LLC now owns 2,522,273 shares of the company’s stock worth $9,534,000 after buying an additional 896,471 shares during the last quarter. Goldman Sachs Group Inc. raised its position in Eos Energy Enterprises by 36.8% during the 1st quarter. Goldman Sachs Group Inc. now owns 3,900,513 shares of the company’s stock worth $14,744,000 after buying an additional 1,050,128 shares during the last quarter. Envestnet Asset Management Inc. purchased a new position in Eos Energy Enterprises during the 2nd quarter worth $76,000. JPMorgan Chase & Co. purchased a new position in Eos Energy Enterprises during the 2nd quarter worth $5,958,000. Finally, Rhumbline Advisers raised its position in Eos Energy Enterprises by 7,019.6% during the 2nd quarter. Rhumbline Advisers now owns 323,588 shares of the company’s stock worth $1,657,000 after buying an additional 319,043 shares during the last quarter. Hedge funds and other institutional investors own 54.87% of the company’s stock.

Eos Energy Enterprises Trading Up 25.2%

EOSE stock traded up $1.16 on Thursday, hitting $5.75. The company’s stock had a trading volume of 49,435,317 shares, compared to its average volume of 23,020,842. The firm has a 50 day moving average of $8.18 and a two-hundred day moving average of $12.20. Eos Energy Enterprises has a 1 year low of $3.47 and a 1 year high of $19.86. The stock has a market cap of $1.95 billion, a price-to-earnings ratio of -0.82 and a beta of 2.33.

Eos Energy Enterprises (NASDAQ:EOSEGet Free Report) last released its quarterly earnings results on Thursday, February 26th. The company reported ($0.84) EPS for the quarter, missing the consensus estimate of ($0.20) by ($0.64). The company had revenue of $58.00 million for the quarter, compared to analysts’ expectations of $93.36 million. As a group, equities analysts forecast that Eos Energy Enterprises will post -2.54 EPS for the current fiscal year.

Analyst Ratings Changes

Several research analysts have recently issued reports on EOSE shares. JPMorgan Chase & Co. started coverage on shares of Eos Energy Enterprises in a report on Wednesday, December 17th. They issued a “neutral” rating and a $16.00 target price for the company. Roth Mkm lowered their target price on shares of Eos Energy Enterprises from $12.00 to $6.00 and set a “neutral” rating for the company in a report on Friday, February 27th. Weiss Ratings restated a “sell (d-)” rating on shares of Eos Energy Enterprises in a report on Thursday, January 22nd. B. Riley Financial lowered their target price on shares of Eos Energy Enterprises from $12.00 to $8.00 and set a “neutral” rating for the company in a report on Thursday, March 5th. Finally, Zacks Research downgraded shares of Eos Energy Enterprises from a “hold” rating to a “strong sell” rating in a research report on Monday, March 9th. One investment analyst has rated the stock with a Buy rating, six have given a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat, Eos Energy Enterprises currently has a consensus rating of “Reduce” and an average target price of $12.07.

Read Our Latest Report on Eos Energy Enterprises

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Eos Energy Enterprises Company Profile

(Get Free Report)

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.

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