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

Eos Energy Enterprises, Inc. (NASDAQ:EOSE) was the recipient of some unusual options trading on Thursday. Investors purchased 35,617 call options on the stock. This represents an increase of 77% compared to the typical volume of 20,073 call options.

Institutional Trading of Eos Energy Enterprises

Several institutional investors have recently added to or reduced their stakes in the business. Tidal Investments LLC bought a new position in Eos Energy Enterprises during the 3rd quarter worth $993,000. Virtu Financial LLC bought a new stake in shares of Eos Energy Enterprises during the third quarter valued at approximately $206,000. Geode Capital Management LLC boosted its position 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 worth $7,335,000 after buying an additional 376,494 shares during the period. State Street Corp increased its position in Eos Energy Enterprises by 9.5% in the 3rd quarter. State Street Corp now owns 875,439 shares of the company’s stock valued at $2,600,000 after acquiring an additional 75,657 shares during the period. Finally, Walleye Capital LLC acquired a new position in Eos Energy Enterprises during the 3rd quarter worth $48,000. Institutional investors own 54.87% of the company’s stock.

Eos Energy Enterprises Stock Up 2.5 %

Shares of NASDAQ EOSE opened at $5.67 on Friday. The stock has a market capitalization of $1.24 billion, a P/E ratio of -2.35 and a beta of 2.31. The stock’s 50 day moving average price is $3.41 and its two-hundred day moving average price is $2.64. Eos Energy Enterprises has a 52-week low of $0.61 and a 52-week high of $5.82.

Analyst Upgrades and Downgrades

Separately, 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 research report on Thursday, November 7th. Two analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price 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.