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

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

Eos Energy Enterprises Stock Up 17.8%

NASDAQ:EOSE traded up $2.72 during trading hours on Friday, reaching $18.01. 34,143,330 shares of the stock were exchanged, compared to its average volume of 13,236,412. The stock has a market capitalization of $4.68 billion, a P/E ratio of -2.15 and a beta of 2.32. The firm has a 50 day simple moving average of $12.01 and a 200-day simple moving average of $7.73. Eos Energy Enterprises has a 52 week low of $2.06 and a 52 week high of $19.05.

Insider Buying and Selling at Eos Energy Enterprises

In other news, CAO Sumeet Puri sold 40,501 shares of Eos Energy Enterprises 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 sale, the chief accounting officer owned 164,290 shares in the company, valued at $1,168,101.90. This trade represents a 19.78% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Marian Walters sold 50,000 shares of the company’s stock in a transaction 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 transaction, 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 ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 3.30% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of EOSE. Driehaus Capital Management LLC acquired a new stake in Eos Energy Enterprises in the first quarter worth about $13,456,000. Geode Capital Management LLC boosted its stake in Eos Energy Enterprises by 101.4% during the 2nd quarter. Geode Capital Management LLC now owns 5,407,930 shares of the company’s stock valued at $27,692,000 after purchasing an additional 2,722,495 shares in the last quarter. Engineers Gate Manager LP acquired a new position in shares of Eos Energy Enterprises during the 2nd quarter valued at $11,840,000. Vanguard Group Inc. raised its stake in shares of Eos Energy Enterprises by 16.7% in the 3rd quarter. Vanguard Group Inc. now owns 15,536,862 shares of the company’s stock worth $176,965,000 after buying an additional 2,218,075 shares in the last quarter. Finally, Electron Capital Partners LLC lifted its holdings in shares of Eos Energy Enterprises by 39.9% in the second quarter. Electron Capital Partners LLC now owns 6,979,422 shares of the company’s stock valued at $35,735,000 after buying an additional 1,989,144 shares during the period. 54.87% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the company. Roth Capital set a $12.00 target price on Eos Energy Enterprises and gave the stock a “neutral” rating in a research report on Wednesday, October 22nd. TD Cowen raised their price objective on Eos Energy Enterprises from $5.50 to $6.00 and gave the company a “hold” rating in a research note on Friday, August 1st. Zacks Research downgraded Eos Energy Enterprises from a “hold” rating to a “strong sell” rating in a report on Wednesday, October 29th. Jefferies Financial Group began coverage on Eos Energy Enterprises in a research report on Friday, September 5th. They issued a “hold” rating and a $6.50 target price on the stock. Finally, Stifel Nicolaus raised their price target on shares of Eos Energy Enterprises from $10.00 to $22.00 and gave the stock a “buy” rating in a research report on Wednesday, October 15th. Two analysts have rated the stock with a Buy rating, six have issued a Hold rating and two have issued a Sell rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $11.36.

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.