Eos Energy Enterprises (NASDAQ:EOSE) Stock Price Down 8.6% – Here’s What Happened

Shares of Eos Energy Enterprises, Inc. (NASDAQ:EOSE) traded down 8.6% during trading on Tuesday . The company traded as low as $5.42 and last traded at $5.35. 2,554,936 shares changed hands during mid-day trading, a decline of 71% from the average session volume of 8,957,952 shares. The stock had previously closed at $5.85.

Wall Street Analyst Weigh In

Separately, Roth Mkm lowered their price target on Eos Energy Enterprises from $4.50 to $4.00 and set a “buy” rating for the company in a research note on Thursday, November 7th. Two equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $3.90.

Eos Energy Enterprises Stock Performance

The business has a 50-day simple moving average of $4.42 and a two-hundred day simple moving average of $3.16. The stock has a market cap of $1.27 billion, a price-to-earnings ratio of -2.41 and a beta of 2.09.

Hedge Funds Weigh In On Eos Energy Enterprises

A number of large investors have recently bought and sold shares of the company. Montag A & Associates Inc. boosted its position in Eos Energy Enterprises by 21.0% during the 4th quarter. Montag A & Associates Inc. now owns 13,809 shares of the company’s stock worth $67,000 after acquiring an additional 2,400 shares during the last quarter. R Squared Ltd acquired a new stake in shares of Eos Energy Enterprises in the 4th quarter valued at approximately $31,000. Hollencrest Capital Management boosted its holdings 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 valued at $25,000 after buying an additional 7,500 shares during the last quarter. Lake Street Private Wealth LLC acquired a new stake in shares of Eos Energy Enterprises in the 4th quarter valued at approximately $51,000. Finally, WESPAC Advisors LLC acquired a new stake in shares of Eos Energy Enterprises in the 3rd quarter valued at approximately $32,000. Institutional investors and hedge funds own 54.87% of the company’s stock.

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.