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

Eos Energy Enterprises, Inc. (NASDAQ:EOSE) was the target of some unusual options trading activity on Tuesday. Traders bought 26,164 call options on the stock. This is an increase of approximately 82% compared to the average daily volume of 14,412 call options.

Eos Energy Enterprises Trading Up 1.4 %

EOSE stock opened at $2.97 on Thursday. Eos Energy Enterprises has a twelve month low of $0.61 and a twelve month high of $3.66. The company’s 50 day moving average is $2.89 and its two-hundred day moving average is $2.11. The stock has a market cap of $647.19 million, a P/E ratio of -1.23 and a beta of 2.31.

Insider Activity

In related news, Director Jeffrey S. Bornstein sold 30,000 shares of the firm’s stock in a transaction that occurred on Thursday, September 12th. The shares were sold at an average price of $2.62, for a total value of $78,600.00. Following the sale, the director now owns 84,929 shares of the company’s stock, valued at $222,513.98. This trade represents a 26.10 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 3.80% of the company’s stock.

Institutional Trading of Eos Energy Enterprises

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Hollencrest Capital Management grew its position in shares of Eos Energy Enterprises by 1,000.0% during the third quarter. Hollencrest Capital Management now owns 8,250 shares of the company’s stock worth $25,000 after acquiring an additional 7,500 shares during the last quarter. WESPAC Advisors LLC purchased a new position in shares of Eos Energy Enterprises during the third quarter worth approximately $32,000. Focused Wealth Management Inc purchased a new position in shares of Eos Energy Enterprises during the third quarter worth approximately $46,000. Walleye Capital LLC purchased a new position in shares of Eos Energy Enterprises during the third quarter worth approximately $48,000. Finally, Venture Visionary Partners LLC purchased a new position in shares of Eos Energy Enterprises during the third quarter worth approximately $59,000. Institutional investors and hedge funds own 54.87% of the company’s stock.

Analyst Ratings Changes

EOSE has been the topic of several analyst reports. Roth Mkm reduced their target price 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. Stifel Nicolaus reaffirmed a “buy” rating and issued a $6.00 target price on shares of Eos Energy Enterprises in a report on Wednesday, August 21st. Two research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average 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.