Traders Buy High Volume of Eos Energy Enterprises Put Options (NASDAQ:EOSE)

Eos Energy Enterprises, Inc. (NASDAQ:EOSE) was the target of some unusual options trading on Tuesday. Stock traders purchased 30,934 put options on the company. This represents an increase of approximately 16% compared to the average daily volume of 26,724 put options.

Eos Energy Enterprises Price Performance

Shares of EOSE stock opened at $4.28 on Thursday. Eos Energy Enterprises has a 12-month low of $0.61 and a 12-month high of $6.64. The firm has a market capitalization of $932.66 million, a price-to-earnings ratio of -1.78 and a beta of 2.10. The business has a 50 day simple moving average of $5.20 and a 200 day simple moving average of $3.61.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. Stifel Financial Corp raised its stake in shares of Eos Energy Enterprises by 6.4% during the fourth quarter. Stifel Financial Corp now owns 4,978,078 shares of the company’s stock valued at $24,193,000 after purchasing an additional 297,909 shares in the last quarter. Legal & General Group Plc increased its stake in Eos Energy Enterprises by 61,220.5% during the 4th quarter. Legal & General Group Plc now owns 4,804,461 shares of the company’s stock valued at $23,350,000 after buying an additional 4,796,626 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new stake in shares of Eos Energy Enterprises during the 4th quarter worth about $16,632,000. Geode Capital Management LLC lifted its stake in shares of Eos Energy Enterprises by 1.7% in the 4th quarter. Geode Capital Management LLC now owns 2,510,088 shares of the company’s stock worth $12,205,000 after acquiring an additional 41,440 shares during the period. Finally, Barings LLC boosted its holdings in shares of Eos Energy Enterprises by 100.5% in the fourth quarter. Barings LLC now owns 2,403,448 shares of the company’s stock valued at $11,681,000 after acquiring an additional 1,204,430 shares in the last quarter. Institutional investors own 54.87% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the company. Roth Mkm downgraded Eos Energy Enterprises from a “buy” rating to a “neutral” rating and upped their price objective for the stock from $4.00 to $5.00 in a research note on Thursday, February 20th. Roth Capital lowered shares of Eos Energy Enterprises from a “strong-buy” rating to a “hold” rating in a research report on Thursday, February 20th. Four equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $4.10.

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.