Eos Energy Enterprises (NASDAQ:EOSE) Trading 5.6% Higher – Here’s Why

Shares of Eos Energy Enterprises, Inc. (NASDAQ:EOSE) shot up 5.6% during mid-day trading on Thursday . The stock traded as high as $3.41 and last traded at $3.40. 1,658,270 shares were traded during trading, a decline of 76% from the average session volume of 6,787,589 shares. The stock had previously closed at $3.22.

Analyst Ratings Changes

A number of equities analysts have commented on EOSE shares. Stifel Nicolaus reiterated a “buy” rating and issued a $6.00 target price on shares of Eos Energy Enterprises in a report on Wednesday, August 21st. Roth Mkm reduced their price objective on shares of 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 stock. According to data from MarketBeat, Eos Energy Enterprises presently has a consensus rating of “Moderate Buy” and an average price target of $3.90.

Eos Energy Enterprises Stock Performance

The company has a 50 day moving average of $2.94 and a 200 day moving average of $2.22. The stock has a market capitalization of $740.90 million, a price-to-earnings ratio of -1.41 and a beta of 2.31.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Hollencrest Capital Management lifted its position in Eos Energy Enterprises by 1,000.0% during the third quarter. Hollencrest Capital Management now owns 8,250 shares of the company’s stock worth $25,000 after buying an additional 7,500 shares in the last quarter. WESPAC Advisors LLC acquired a new position in shares of Eos Energy Enterprises in the 3rd quarter valued at $32,000. Focused Wealth Management Inc purchased a new position in shares of Eos Energy Enterprises during the 3rd quarter worth $46,000. Walleye Capital LLC acquired a new stake in shares of Eos Energy Enterprises during the 3rd quarter worth about $48,000. Finally, Price T Rowe Associates Inc. MD raised its holdings in Eos Energy Enterprises by 74.4% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 43,930 shares of the company’s stock valued at $46,000 after buying an additional 18,735 shares during the period. 54.87% of the stock is owned by hedge funds and other institutional investors.

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.