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

Eos Energy Enterprises, Inc. (NASDAQ:EOSE) was the recipient of some unusual options trading on Tuesday. Investors acquired 34,343 call options on the stock. This is an increase of approximately 431% compared to the typical daily volume of 6,471 call options.

Wall Street Analysts Forecast Growth

EOSE has been the topic of a number of research reports. Roth Mkm reissued a “buy” rating and issued a $4.50 price objective on shares of Eos Energy Enterprises in a research note on Friday, June 28th. Evercore ISI dropped their price objective on Eos Energy Enterprises from $7.00 to $3.00 and set an “outperform” rating on the stock in a research note on Thursday, May 16th. TD Cowen dropped their price objective on Eos Energy Enterprises from $3.00 to $2.50 and set a “hold” rating on the stock in a research note on Thursday, May 16th. B. Riley raised Eos Energy Enterprises to a “hold” rating in a research note on Tuesday, June 25th. Finally, Stifel Nicolaus reissued a “buy” rating and issued a $13.00 price objective on shares of Eos Energy Enterprises in a research note on Wednesday, May 15th. Two equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $4.83.

Eos Energy Enterprises Stock Up 7.3 %

Shares of Eos Energy Enterprises stock opened at $2.06 on Thursday. The stock’s fifty day moving average is $0.97 and its 200-day moving average is $0.98. The firm has a market capitalization of $428.75 million, a PE ratio of -1.32 and a beta of 2.38. Eos Energy Enterprises has a 12-month low of $0.61 and a 12-month high of $5.05.

Eos Energy Enterprises (NASDAQ:EOSE) last announced its earnings results on Tuesday, May 14th. The company reported ($0.23) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.24) by $0.01. The company had revenue of $6.60 million for the quarter, compared to analyst estimates of $6.57 million. Analysts expect that Eos Energy Enterprises will post -0.7 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of EOSE. Invesco Ltd. grew its holdings in shares of Eos Energy Enterprises by 23.6% during the third quarter. Invesco Ltd. now owns 3,128,582 shares of the company’s stock valued at $6,726,000 after buying an additional 597,279 shares in the last quarter. B. Riley Wealth Advisors Inc. grew its holdings in shares of Eos Energy Enterprises by 880.8% during the third quarter. B. Riley Wealth Advisors Inc. now owns 275,765 shares of the company’s stock valued at $593,000 after buying an additional 247,650 shares in the last quarter. Canal Insurance CO grew its holdings in shares of Eos Energy Enterprises by 150.0% during the fourth quarter. Canal Insurance CO now owns 100,000 shares of the company’s stock valued at $109,000 after buying an additional 60,000 shares in the last quarter. Grimes & Company Inc. purchased a new position in shares of Eos Energy Enterprises during the fourth quarter valued at $44,000. Finally, Mirae Asset Global Investments Co. Ltd. grew its holdings in shares of Eos Energy Enterprises by 24.7% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,258,058 shares of the company’s stock valued at $4,641,000 after buying an additional 843,918 shares in the last quarter. Hedge funds and other institutional investors own 54.87% of the company’s stock.

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.