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

Eos Energy Enterprises, Inc. (NASDAQ:EOSE) was the recipient of some unusual options trading on Tuesday. Investors bought 26,164 call options on the company. This represents an increase of 82% compared to the typical daily volume of 14,412 call options.

Eos Energy Enterprises Trading Up 1.4 %

EOSE opened at $2.93 on Wednesday. Eos Energy Enterprises has a twelve month low of $0.61 and a twelve month high of $3.66. The firm’s fifty day moving average is $2.88 and its two-hundred day moving average is $2.09.

Insider Buying and Selling at Eos Energy Enterprises

In other Eos Energy Enterprises news, Director Jeffrey S. Bornstein sold 30,000 shares of the company’s stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $2.62, for a total transaction of $78,600.00. Following the transaction, the director now directly owns 84,929 shares in the company, valued at approximately $222,513.98. This represents a 26.10 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 3.80% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Millennium Management LLC boosted its holdings in shares of Eos Energy Enterprises by 5,744.5% in the second quarter. Millennium Management LLC now owns 3,164,017 shares of the company’s stock valued at $4,018,000 after buying an additional 3,109,880 shares during the period. Brightline Capital Management LLC bought a new stake in Eos Energy Enterprises in the 3rd quarter valued at approximately $4,871,000. NewEdge Advisors LLC boosted its position in Eos Energy Enterprises by 30.2% during the 2nd quarter. NewEdge Advisors LLC now owns 2,588,823 shares of the company’s stock worth $3,288,000 after acquiring an additional 600,143 shares during the last quarter. Vanguard Group Inc. grew its stake in shares of Eos Energy Enterprises by 6.6% during the 1st quarter. Vanguard Group Inc. now owns 9,375,916 shares of the company’s stock worth $9,657,000 after acquiring an additional 580,022 shares in the last quarter. Finally, Geode Capital Management LLC raised its holdings in shares of Eos Energy Enterprises by 18.0% in the third quarter. Geode Capital Management LLC now owns 2,468,648 shares of the company’s stock valued at $7,335,000 after purchasing an additional 376,494 shares during the last quarter. 54.87% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of brokerages have issued reports on EOSE. Stifel Nicolaus reaffirmed a “buy” rating and issued a $6.00 price objective on shares of Eos Energy Enterprises in a research note on Wednesday, August 21st. Roth Mkm reduced their price target on Eos Energy Enterprises from $4.50 to $4.00 and set a “buy” rating on the stock in a research report on Thursday, November 7th. Two equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $3.90.

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.