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

Eos Energy Enterprises, Inc. (NASDAQ:EOSE) was the recipient of unusually large options trading activity on Tuesday. Traders acquired 26,164 call options on the company. This represents an increase of 82% compared to the average volume of 14,412 call options.

Eos Energy Enterprises Price Performance

Shares of NASDAQ EOSE traded up $0.09 during midday trading on Tuesday, hitting $2.98. 11,113,492 shares of the company’s stock were exchanged, compared to its average volume of 6,788,593. The firm’s fifty day simple moving average is $2.87 and its 200-day simple moving average is $2.08. The company has a market cap of $649.37 million, a PE ratio of -1.32 and a beta of 2.32. Eos Energy Enterprises has a twelve month low of $0.61 and a twelve month high of $3.66.

Insider Buying and Selling

In related news, Director Jeffrey S. Bornstein sold 30,000 shares of the stock in a transaction that occurred on Thursday, September 12th. The shares were sold at an average price of $2.62, for a total transaction of $78,600.00. Following the completion of the transaction, the director now owns 84,929 shares of the company’s stock, valued at approximately $222,513.98. This trade represents a 26.10 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 3.80% of the stock is currently owned by company insiders.

Institutional Trading of Eos Energy Enterprises

Several institutional investors have recently modified their holdings of the stock. Millennium Management LLC increased its position in Eos Energy Enterprises by 5,744.5% in the 2nd quarter. Millennium Management LLC now owns 3,164,017 shares of the company’s stock valued at $4,018,000 after acquiring an additional 3,109,880 shares during the period. Brightline Capital Management LLC acquired a new stake in shares of Eos Energy Enterprises in the 3rd quarter worth $4,871,000. NewEdge Advisors LLC boosted its holdings 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 acquiring an additional 600,143 shares in the last quarter. Vanguard Group Inc. increased its stake in shares of Eos Energy Enterprises by 6.6% during the first quarter. Vanguard Group Inc. now owns 9,375,916 shares of the company’s stock worth $9,657,000 after acquiring an additional 580,022 shares during the period. Finally, Geode Capital Management LLC raised its holdings 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 purchasing an additional 376,494 shares in the last quarter. Hedge funds and other institutional investors own 54.87% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on EOSE shares. Stifel Nicolaus reissued a “buy” rating and set a $6.00 target price on shares of Eos Energy Enterprises in a research note on Wednesday, August 21st. Roth Mkm lowered 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. Two research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $3.90.

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.