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

Eos Energy Enterprises, Inc. (NASDAQ:EOSE) was the target of some unusual options trading on Wednesday. Stock traders purchased 45,477 call options on the stock. This is an increase of approximately 177% compared to the typical volume of 16,397 call options.

Eos Energy Enterprises Stock Up 7.2 %

EOSE stock traded up $0.28 during mid-day trading on Wednesday, hitting $4.19. The company had a trading volume of 8,927,112 shares, compared to its average volume of 6,885,864. The company has a 50-day moving average price of $2.97 and a 200 day moving average price of $2.29. Eos Energy Enterprises has a 12-month low of $0.61 and a 12-month high of $4.60. The company has a market capitalization of $913.05 million, a price-to-earnings ratio of -1.74 and a beta of 2.31.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on EOSE. 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 note on Thursday, November 7th. Stifel Nicolaus reiterated a “buy” rating and issued a $6.00 price target on shares of Eos Energy Enterprises in a research note on Wednesday, August 21st. Two investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $3.90.

Hedge Funds Weigh In On Eos Energy Enterprises

A number of institutional investors and hedge funds have recently made changes to their positions in EOSE. Tidal Investments LLC bought a new position in shares of Eos Energy Enterprises in the 3rd quarter valued at about $993,000. Virtu Financial LLC purchased a new position in shares of Eos Energy Enterprises in the 3rd quarter worth approximately $206,000. Geode Capital Management LLC increased its position in shares of Eos Energy Enterprises by 18.0% during the 3rd 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. State Street Corp raised its holdings in Eos Energy Enterprises by 9.5% during the 3rd quarter. State Street Corp now owns 875,439 shares of the company’s stock valued at $2,600,000 after buying an additional 75,657 shares during the period. Finally, Walleye Capital LLC purchased a new position in Eos Energy Enterprises during the third quarter worth $48,000. 54.87% of the stock is owned by hedge funds and other institutional investors.

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.