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

Eos Energy Enterprises, Inc. (NASDAQ:EOSE) saw unusually large options trading activity on Tuesday. Stock traders acquired 40,913 call options on the company. This is an increase of 60% compared to the average daily volume of 25,494 call options.

Analyst Ratings Changes

Separately, Roth Mkm cut their price objective on shares of Eos Energy Enterprises from $4.50 to $4.00 and set a “buy” rating on the stock in a 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.com, the company has a consensus rating of “Moderate Buy” and an average target price of $3.90.

Hedge Funds Weigh In On Eos Energy Enterprises

Several institutional investors and hedge funds have recently bought and sold shares of the company. Millennium Management LLC grew its position in Eos Energy Enterprises by 5,744.5% during the 2nd quarter. Millennium Management LLC now owns 3,164,017 shares of the company’s stock worth $4,018,000 after purchasing an additional 3,109,880 shares during the last quarter. Geode Capital Management LLC grew its holdings in shares of 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 valued at $7,335,000 after buying an additional 376,494 shares during the last quarter. Tidal Investments LLC purchased a new position in Eos Energy Enterprises in the 3rd quarter worth $993,000. State Street Corp increased its holdings in shares of Eos Energy Enterprises by 9.5% in the third quarter. State Street Corp now owns 875,439 shares of the company’s stock valued at $2,600,000 after purchasing an additional 75,657 shares during the period. Finally, FMR LLC increased its holdings in shares of Eos Energy Enterprises by 67.8% in the third quarter. FMR LLC now owns 58,651 shares of the company’s stock valued at $174,000 after purchasing an additional 23,706 shares during the period. 54.87% of the stock is owned by hedge funds and other institutional investors.

Eos Energy Enterprises Stock Down 10.1 %

Shares of Eos Energy Enterprises stock traded down $0.55 on Tuesday, reaching $4.86. The stock had a trading volume of 11,050,178 shares, compared to its average volume of 8,463,293. The stock has a market capitalization of $1.06 billion, a P/E ratio of -2.01 and a beta of 2.10. The company has a 50 day moving average price of $4.88 and a 200 day moving average price of $3.37. Eos Energy Enterprises has a 1 year low of $0.61 and a 1 year high of $6.64.

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.