Eos Energy Enterprises Target of Unusually High Options Trading (NASDAQ:EOSE)

Eos Energy Enterprises, Inc. (NASDAQ:EOSE) was the target of some unusual options trading on Tuesday. Stock traders purchased 40,913 call options on the company. This represents an increase of approximately 60% compared to the average daily volume of 25,494 call options.

Eos Energy Enterprises Trading Down 10.1 %

Eos Energy Enterprises stock traded down $0.55 during midday trading 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 company 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 fifty day moving average price of $4.88 and a two-hundred day moving average price of $3.37. Eos Energy Enterprises has a 12 month low of $0.61 and a 12 month high of $6.64.

Analyst Ratings Changes

Separately, Roth Mkm lowered their price target on Eos Energy Enterprises from $4.50 to $4.00 and set a “buy” rating on the stock in a research report on Thursday, November 7th. Two equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $3.90.

Hedge Funds Weigh In On Eos Energy Enterprises

Institutional investors have recently made changes to their positions in the stock. Millennium Management LLC increased its position in shares of Eos Energy Enterprises by 5,744.5% during the second 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 in the last quarter. Cubist Systematic Strategies LLC lifted its holdings in Eos Energy Enterprises by 138,544.3% during the second quarter. Cubist Systematic Strategies LLC now owns 134,485 shares of the company’s stock valued at $171,000 after purchasing an additional 134,388 shares in the last quarter. Venture Visionary Partners LLC purchased a new stake in shares of Eos Energy Enterprises during the third quarter worth about $59,000. CENTRAL TRUST Co bought a new position in shares of Eos Energy Enterprises during the third quarter worth $148,000. Finally, Cutter & CO Brokerage Inc. purchased a new position in shares of Eos Energy Enterprises during the third quarter valued at about $256,000. Institutional investors own 54.87% of the company’s stock.

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.