Short Interest in Eos Energy Enterprises, Inc. (NASDAQ:EOSE) Expands By 55.3%

19.8% from the May 15th total of 17,860,000 shares. Based on an average daily volume of 1,140,000 shares, the short-interest ratio is presently 18.7 days. The number of shares shorted increased by 19.8% in May.

() experienced a significant increase in short interest throughout the month of may. On May 31st there were 21,310,000 short shares. This is a 55.3% increase from the total of 13,720,000 on May 15th. The short-interest rate is currently 4.3 days based on an average daily share volume of 4,900,000.

Eos Energy Enterprises stock up 3.7 %

Trading on Friday saw a $0.12 increase, bringing the price to $3.34. Stock traded 11,930 223 shares compared to 4,193,178 average. The stock's 50-day simple moving is $2.33, and its 200-day simple moving is $1.85. The company's market capitalization is $386.94 millions, with a PE of -0.92 a beta value of 2.39. The company released its last earnings report on Tuesday, 9th May. The company's ($0.82) per-share earnings for the third quarter fell short of the consensus estimate ($0.54) ($0.28). The company had revenue of $8.84m for the quarter compared with analyst estimates of $3.17m. Analysts expect Eos Energy Enterprises to post a -1.74 earnings-per-share for the current fiscal period.

Institutional Trading of Eos Energy Enterprises

A number of institutional investors recently changed their positions on EOSE. Advisor Group Holdings Inc. increased its holdings of Eos Energy Enterprises shares by 899.6% in the first quarter. Advisor Group Holdings Inc. owns now 19,662 of the company’s stock valued at $82,000, after buying an additional 17,695 during the period. JPMorgan Chase & Co. increased its holdings of Eos Energy Enterprises shares by 3,665.1% in the first quarter. JPMorgan Chase & Co. owns now 624,856 of the company stock valued at $2,612,000, after buying an additional 608,260 during the period. Bank of Montreal Can purchased a new share of Eos Energy Enterprises in the first quarter, valued at approximately $51,000. Healthcare of Ontario Pension Plan Trust Fund purchased a new stake of approximately $172,000 in Eos Energy Enterprises shares during the first three months. BlackRock Inc. increased its holdings of Eos Energy Enterprises shares by 1.1% in the first quarter. BlackRock Inc. owns now 2,668,119 of the company’s stock valued at $11,153,000, after buying an additional 27,981 during the period. Institutional investors and hedge fund currently own 28.96%.

Wall Street analysts weigh in

Separately, TD Cowen began coverage of shares of Eos Energy Enterprises on Friday, 2nd June in a research report. The stock was given a rating of'market perform' and a price target of $2.50.

Eos Energy Enterprises Company profile

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Eos Energy Enterprises, Inc. designs, manufactures, markets and distributes zinc-based energy storage systems for utility, industrial, commercial, and microgrids markets in the United States. The Eos Znyth DC System is the company's flagship, and it can be used to replace Li-ion battery systems.

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