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

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

Eos Energy Enterprises Stock Performance

EOSE opened at $5.53 on Friday. Eos Energy Enterprises has a 1 year low of $0.61 and a 1 year high of $5.70. The company’s 50 day simple moving average is $3.31 and its 200 day simple moving average is $2.58. The stock has a market capitalization of $1.21 billion, a PE ratio of -2.29 and a beta of 2.31.

Analyst Upgrades and Downgrades

Separately, Roth Mkm decreased their price objective on Eos Energy Enterprises from $4.50 to $4.00 and set a “buy” rating on the stock in a report on Thursday, November 7th. Two 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 company currently has a consensus rating of “Moderate Buy” and a consensus price target of $3.90.

Hedge Funds Weigh In On Eos Energy Enterprises

A number of hedge funds have recently made changes to their positions in EOSE. Hollencrest Capital Management raised its position in shares of Eos Energy Enterprises by 1,000.0% in the 3rd quarter. Hollencrest Capital Management now owns 8,250 shares of the company’s stock worth $25,000 after buying an additional 7,500 shares during the period. WESPAC Advisors LLC acquired a new stake in Eos Energy Enterprises during the third quarter worth about $32,000. Focused Wealth Management Inc purchased a new position in shares of Eos Energy Enterprises in the 3rd quarter worth about $46,000. Walleye Capital LLC acquired a new position in shares of Eos Energy Enterprises in the 3rd quarter valued at about $48,000. Finally, Venture Visionary Partners LLC purchased a new stake in shares of Eos Energy Enterprises during the 3rd quarter worth about $59,000. Institutional investors and hedge funds own 54.87% of the company’s stock.

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.