Eos Energy Enterprises, Inc. (NASDAQ:EOSE – Get Free Report) was the target of some unusual options trading activity on Wednesday. Investors purchased 45,477 call options on the company. This is an increase of 177% compared to the average volume of 16,397 call options.
Wall Street Analyst Weigh In
Separately, Roth Mkm reduced their price objective on Eos Energy Enterprises from $4.50 to $4.00 and set a “buy” rating on the stock in a research note on Thursday, November 7th. Two research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat, Eos Energy Enterprises currently has a consensus rating of “Moderate Buy” and an average target price of $3.90.
Read Our Latest Stock Analysis on EOSE
Eos Energy Enterprises Trading Up 6.9 %
Hedge Funds Weigh In On Eos Energy Enterprises
Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Millennium Management LLC grew its stake in shares of Eos Energy Enterprises by 5,744.5% in the second 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. NewEdge Advisors LLC lifted its holdings in Eos Energy Enterprises by 30.2% during the 2nd quarter. NewEdge Advisors LLC now owns 2,588,823 shares of the company’s stock worth $3,288,000 after buying an additional 600,143 shares during the period. Geode Capital Management LLC grew its position in shares of Eos Energy Enterprises by 18.0% in the 3rd 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. Brightline Capital Management LLC acquired a new stake in shares of Eos Energy Enterprises in the third quarter valued at about $4,871,000. Finally, State Street Corp raised its position in shares of Eos Energy Enterprises by 9.5% during the third quarter. State Street Corp now owns 875,439 shares of the company’s stock worth $2,600,000 after acquiring an additional 75,657 shares during the last quarter. 54.87% of the stock is currently owned by institutional investors and hedge funds.
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.
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