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

Eos Energy Enterprises, Inc. (NASDAQ:EOSE) was the target of unusually large options trading on Friday. Stock traders acquired 170,699 call options on the company. This represents an increase of 83% compared to the typical volume of 93,242 call options.

Eos Energy Enterprises Stock Performance

NASDAQ EOSE traded up $2.72 during trading on Friday, reaching $18.01. The company’s stock had a trading volume of 34,143,330 shares, compared to its average volume of 13,236,412. The business’s fifty day moving average price is $12.01 and its 200-day moving average price is $7.73. Eos Energy Enterprises has a twelve month low of $2.06 and a twelve month high of $19.05. The firm has a market cap of $4.68 billion, a price-to-earnings ratio of -2.15 and a beta of 2.32.

Insiders Place Their Bets

In related news, CAO Sumeet Puri sold 40,501 shares of the stock in a transaction that occurred on Monday, September 8th. The shares were sold at an average price of $7.11, for a total transaction of $287,962.11. Following the completion of the transaction, the chief accounting officer owned 164,290 shares of the company’s stock, valued at approximately $1,168,101.90. This trade represents a 19.78% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Marian Walters sold 50,000 shares of Eos Energy Enterprises stock in a transaction that occurred on Wednesday, September 3rd. The shares were sold at an average price of $7.90, for a total transaction of $395,000.00. Following the completion of the sale, the director owned 133,794 shares of the company’s stock, valued at $1,056,972.60. This trade represents a 27.20% decrease in their position. The disclosure for this sale is available in the SEC filing. Corporate insiders own 3.30% of the company’s stock.

Institutional Trading of Eos Energy Enterprises

Several hedge funds and other institutional investors have recently made changes to their positions in EOSE. Farther Finance Advisors LLC grew its holdings in Eos Energy Enterprises by 33.0% in the third quarter. Farther Finance Advisors LLC now owns 3,325 shares of the company’s stock valued at $38,000 after purchasing an additional 825 shares during the last quarter. Investment Advisory Group LLC raised its position in shares of Eos Energy Enterprises by 7.0% in the third quarter. Investment Advisory Group LLC now owns 23,000 shares of the company’s stock valued at $262,000 after buying an additional 1,500 shares during the last quarter. Copia Wealth Management raised its holdings in Eos Energy Enterprises by 54.7% in the 3rd quarter. Copia Wealth Management now owns 4,796 shares of the company’s stock valued at $55,000 after acquiring an additional 1,696 shares during the last quarter. SBI Securities Co. Ltd. increased its stake in Eos Energy Enterprises by 23.6% in the second quarter. SBI Securities Co. Ltd. now owns 12,444 shares of the company’s stock valued at $64,000 after purchasing an additional 2,379 shares during the last quarter. Finally, Carmel Capital Partners LLC increased its stake 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 acquiring an additional 2,450 shares during the last quarter. Hedge funds and other institutional investors own 54.87% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on EOSE. Wall Street Zen raised Eos Energy Enterprises from a “sell” rating to a “hold” rating in a report on Saturday, October 25th. TD Cowen boosted their price objective on shares of Eos Energy Enterprises from $5.50 to $6.00 and gave the stock a “hold” rating in a research report on Friday, August 1st. Roth Capital set a $12.00 target price on shares of Eos Energy Enterprises and gave the company a “neutral” rating in a research report on Wednesday, October 22nd. Guggenheim lifted their price target on shares of Eos Energy Enterprises from $10.00 to $20.00 and gave the stock a “buy” rating in a research note on Wednesday, October 22nd. Finally, B. Riley boosted their price target on shares of Eos Energy Enterprises from $5.00 to $8.00 and gave the company a “neutral” rating in a research report on Tuesday, September 30th. Two analysts have rated the stock with a Buy rating, six have given a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat.com, Eos Energy Enterprises currently has an average rating of “Hold” and a consensus price target of $11.36.

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.