Eos Energy Enterprises Sees Unusually High Options Volume (NASDAQ:EOSE)

Eos Energy Enterprises, Inc. (NASDAQ:EOSE) was the target of some unusual options trading on Thursday. Traders bought 35,617 call options on the stock. This is an increase of 77% compared to the average daily volume of 20,073 call options.

Eos Energy Enterprises Price Performance

EOSE opened at $5.53 on Friday. Eos Energy Enterprises has a 1-year low of $0.61 and a 1-year high of $5.70. The stock has a market cap of $1.21 billion, a P/E ratio of -2.29 and a beta of 2.31. The stock’s 50 day simple moving average is $3.31 and its 200 day simple moving average is $2.58.

Institutional Trading of Eos Energy Enterprises

Several large investors have recently bought and sold shares of the company. Millennium Management LLC raised its stake in shares of Eos Energy Enterprises by 5,744.5% during the 2nd quarter. Millennium Management LLC now owns 3,164,017 shares of the company’s stock worth $4,018,000 after buying an additional 3,109,880 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. acquired a new position in Eos Energy Enterprises during the second quarter worth about $216,000. Tidal Investments LLC purchased a new stake in shares of Eos Energy Enterprises in the third quarter valued at about $993,000. State Street Corp grew its position in shares of Eos Energy Enterprises by 9.5% in the third quarter. State Street Corp now owns 875,439 shares of the company’s stock valued at $2,600,000 after purchasing an additional 75,657 shares during the last quarter. Finally, NewEdge Advisors LLC grew its position in shares of Eos Energy Enterprises by 30.2% in the second quarter. NewEdge Advisors LLC now owns 2,588,823 shares of the company’s stock valued at $3,288,000 after purchasing an additional 600,143 shares during the last quarter. Institutional investors and hedge funds own 54.87% of the company’s stock.

Analysts Set New Price Targets

Separately, Roth Mkm decreased their target price on shares of 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 analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price 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.