One of today’s big market movers is EOS Energy (NASDAQ:EOSE). Shares of this clean energy storage company have absolutely skyrocketed today, shooting 46% higher at their peak. Currently, EOSE stock is up 32% on very heavy volume.
So what do you need to know?
Importantly, there is little in the way of concrete catalysts for this move, at least from a company-specific level. This small-cap stock is one that has been beaten down by the market over the past year. Since its high in March 2021, EOSE stock has lost approximately 85% of its value. And that’s including today’s impressive move.
Much of this has been related to bearish market sentiment for clean energy stocks of late. The focus for investors has been on valuations, and many of the valuations in this sector had previously run too far, too fast. Additionally, higher energy prices have made conventional fossil fuel-related companies more attractive in the near term. This has sucked capital out of the clean energy space.
However, these higher prices, spurred by the recent Russia-Ukraine conflict, could be a catalyst for companies like EOS Energy. As clean energy solutions become more important for energy independence, countries may place an increased emphasis on energy storage. After all, that’s a big piece of this clean energy puzzle.
Let’s dive into a few things investors may want to know about EOS Energy today.
What to Know About EOSE Stock
- EOS Energy is a company focused on providing battery storage solutions.
- These solutions are provided to a range of commercial and industrial clients.
- The goal for this company is to support the growth of renewable energy in the U.S.
- Accordingly, its stationary battery solutions are aimed at allowing for grid-scale energy storage domestically.
- Its battery solutions overcome many of the issues with traditional lithium-ion storage systems.
- These improvements include a lack of health hazards, and no need for fire suppression systems.
- Accordingly, this company is seen as a unique way to play growth in U.S. clean energy storage.
On the date of publication, Chris MacDonald did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
