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

Eos Energy Enterprises, Inc. (NASDAQ:EOSE - Get Free Report) was the recipient of some unusual options trading on Thursday. Stock traders acquired 35,617 call options on the stock. This represents an increase of 77% compared to the average daily volume of 20,073 call options.

Institutional Investors Weigh In On Eos Energy Enterprises

Institutional investors have recently added to or reduced their stakes in the business. Tidal Investments LLC acquired a new position in shares of Eos Energy Enterprises during the third quarter valued at about $993,000. Virtu Financial LLC acquired a new position in Eos Energy Enterprises during the 3rd quarter valued at approximately $206,000. 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 worth $7,335,000 after buying an additional 376,494 shares during the last quarter. State Street Corp lifted its stake 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 worth $2,600,000 after buying an additional 75,657 shares during the period. Finally, Walleye Capital LLC acquired a new stake in shares of Eos Energy Enterprises during the third quarter worth $48,000. Institutional investors and hedge funds own 54.87% of the company's stock.

Eos Energy Enterprises Trading Up 13.8 %

Shares of EOSE traded up $0.67 during midday trading on Thursday, hitting $5.53. 13,348,389 shares of the company's stock traded hands, compared to its average volume of 7,036,538. Eos Energy Enterprises has a 1 year low of $0.61 and a 1 year high of $5.70. The firm's fifty day moving average is $3.31 and its 200-day moving average is $2.58. The stock has a market capitalization of $1.21 billion, a price-to-earnings ratio of -2.29 and a beta of 2.31.

Analysts Set New Price Targets

Separately, Roth Mkm cut 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 investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus 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.