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

Eos Energy Enterprises, Inc. (NASDAQ:EOSE) was the target of some unusual options trading on Tuesday. Stock investors acquired 30,934 put options on the company. This is an increase of 16% compared to the average daily volume of 26,724 put options.

Institutional Trading of Eos Energy Enterprises

Large investors have recently made changes to their positions in the company. Stifel Financial Corp grew its holdings in Eos Energy Enterprises by 6.4% during the 4th quarter. Stifel Financial Corp now owns 4,978,078 shares of the company’s stock worth $24,193,000 after acquiring an additional 297,909 shares in the last quarter. Legal & General Group Plc lifted its position in shares of Eos Energy Enterprises by 61,220.5% during the 4th quarter. Legal & General Group Plc now owns 4,804,461 shares of the company’s stock worth $23,350,000 after purchasing an additional 4,796,626 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new position in shares of Eos Energy Enterprises during the fourth quarter worth $16,632,000. Geode Capital Management LLC increased its holdings in Eos Energy Enterprises by 1.7% in the fourth quarter. Geode Capital Management LLC now owns 2,510,088 shares of the company’s stock valued at $12,205,000 after buying an additional 41,440 shares during the last quarter. Finally, Barings LLC raised its stake in Eos Energy Enterprises by 100.5% in the fourth quarter. Barings LLC now owns 2,403,448 shares of the company’s stock valued at $11,681,000 after buying an additional 1,204,430 shares in the last quarter. 54.87% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on EOSE shares. Roth Capital lowered Eos Energy Enterprises from a “strong-buy” rating to a “hold” rating in a research note on Thursday, February 20th. Roth Mkm cut shares of Eos Energy Enterprises from a “buy” rating to a “neutral” rating and increased their price target for the stock from $4.00 to $5.00 in a research report on Thursday, February 20th. Four research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $4.10.

Eos Energy Enterprises Stock Down 4.1 %

NASDAQ EOSE traded down $0.18 during trading hours on Tuesday, hitting $4.09. 5,775,034 shares of the company were exchanged, compared to its average volume of 7,831,284. The company has a 50 day moving average of $5.19 and a two-hundred day moving average of $3.59. The firm has a market cap of $890.17 million, a price-to-earnings ratio of -1.70 and a beta of 2.10. Eos Energy Enterprises has a 52-week low of $0.61 and a 52-week 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.