Eos Energy Enterprises Target of Unusually High Options Trading (NASDAQ:EOSE)

Eos Energy Enterprises, Inc. (NASDAQ:EOSE) saw unusually large options trading on Wednesday. Stock investors purchased 45,477 call options on the company. This represents an increase of approximately 177% compared to the average daily volume of 16,397 call options.

Eos Energy Enterprises Stock Up 3.3 %

Shares of EOSE opened at $4.04 on Thursday. Eos Energy Enterprises has a 52-week low of $0.61 and a 52-week high of $4.60. The stock has a fifty day simple moving average of $3.00 and a two-hundred day simple moving average of $2.30. The company has a market capitalization of $880.36 million, a PE ratio of -1.68 and a beta of 2.31.

Wall Street Analysts Forecast Growth

Several analysts have commented on EOSE shares. Stifel Nicolaus restated a “buy” rating and set a $6.00 price objective on shares of Eos Energy Enterprises in a research note on Wednesday, August 21st. Roth Mkm reduced their price objective on shares of Eos Energy Enterprises from $4.50 to $4.00 and set a “buy” rating for the company in a research report on Thursday, November 7th. Two equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $3.90.

Institutional Trading of Eos Energy Enterprises

Several hedge funds have recently made changes to their positions in EOSE. Tidal Investments LLC purchased a new stake in shares of Eos Energy Enterprises during the 3rd quarter valued at approximately $993,000. Virtu Financial LLC purchased a new position in Eos Energy Enterprises during the third quarter worth about $206,000. Geode Capital Management LLC boosted its stake in Eos Energy Enterprises by 18.0% during the third quarter. Geode Capital Management LLC now owns 2,468,648 shares of the company’s stock worth $7,335,000 after buying an additional 376,494 shares during the period. State Street Corp increased its position in shares of Eos Energy Enterprises by 9.5% during the third quarter. State Street Corp now owns 875,439 shares of the company’s stock valued at $2,600,000 after acquiring an additional 75,657 shares during the last quarter. Finally, Walleye Capital LLC purchased a new stake in shares of Eos Energy Enterprises in the 3rd quarter valued at approximately $48,000. Hedge funds and other institutional investors own 54.87% of the company’s stock.

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.