Investors Purchase High Volume of Call Options on Eos Energy Enterprises (NASDAQ:EOSE)

Eos Energy Enterprises, Inc. (NASDAQ:EOSEGet Free Report) was the recipient of some unusual options trading activity on Tuesday. Traders acquired 34,343 call options on the stock. This is an increase of 431% compared to the average daily volume of 6,471 call options.

Wall Street Analyst Weigh In

EOSE has been the subject of several recent research reports. Roth Mkm reaffirmed a “buy” rating and set a $4.50 target price on shares of Eos Energy Enterprises in a report on Friday, June 28th. Stifel Nicolaus reaffirmed a “buy” rating and set a $13.00 target price on shares of Eos Energy Enterprises in a report on Wednesday, May 15th. Evercore ISI cut their target price on shares of Eos Energy Enterprises from $7.00 to $3.00 and set an “outperform” rating for the company in a report on Thursday, May 16th. TD Cowen cut their target price on shares of Eos Energy Enterprises from $3.00 to $2.50 and set a “hold” rating for the company in a report on Thursday, May 16th. Finally, B. Riley raised shares of Eos Energy Enterprises to a “hold” rating in a research note on Tuesday, June 25th. Two investment analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $4.83.

View Our Latest Stock Report on Eos Energy Enterprises

Eos Energy Enterprises Stock Performance

Eos Energy Enterprises stock opened at $2.06 on Thursday. Eos Energy Enterprises has a 1 year low of $0.61 and a 1 year high of $5.05. The company’s fifty day moving average price is $0.97 and its 200 day moving average price is $0.98. The stock has a market capitalization of $428.75 million, a P/E ratio of -1.32 and a beta of 2.38.

Eos Energy Enterprises (NASDAQ:EOSEGet Free Report) last announced its earnings results on Tuesday, May 14th. The company reported ($0.23) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.24) by $0.01. The business had revenue of $6.60 million for the quarter, compared to analyst estimates of $6.57 million. Sell-side analysts predict that Eos Energy Enterprises will post -0.7 EPS for the current year.

Institutional Investors Weigh In On Eos Energy Enterprises

Several institutional investors and hedge funds have recently added to or reduced their stakes in EOSE. Invesco Ltd. boosted its stake in Eos Energy Enterprises by 23.6% during the 3rd quarter. Invesco Ltd. now owns 3,128,582 shares of the company’s stock worth $6,726,000 after purchasing an additional 597,279 shares during the last quarter. B. Riley Wealth Advisors Inc. raised its holdings in shares of Eos Energy Enterprises by 880.8% during the 3rd quarter. B. Riley Wealth Advisors Inc. now owns 275,765 shares of the company’s stock worth $593,000 after acquiring an additional 247,650 shares during the period. Canal Insurance CO raised its holdings in shares of Eos Energy Enterprises by 150.0% during the 4th quarter. Canal Insurance CO now owns 100,000 shares of the company’s stock worth $109,000 after acquiring an additional 60,000 shares during the period. Grimes & Company Inc. purchased a new position in shares of Eos Energy Enterprises during the 4th quarter worth $44,000. Finally, Mirae Asset Global Investments Co. Ltd. raised its holdings in shares of Eos Energy Enterprises by 24.7% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,258,058 shares of the company’s stock worth $4,641,000 after acquiring an additional 843,918 shares during the period. Institutional investors and hedge funds own 54.87% of the company’s stock.

Eos Energy Enterprises Company Profile

(Get Free Report)

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.

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