Eos Energy Enterprises (NASDAQ:EOSE) Trading 4.9% Higher – Time to Buy?

Eos Energy Enterprises, Inc. (NASDAQ:EOSE)’s share price rose 4.9% on Tuesday . The company traded as high as $3.97 and last traded at $3.97. Approximately 2,263,732 shares traded hands during trading, a decline of 69% from the average daily volume of 7,352,384 shares. The stock had previously closed at $3.78.

Analyst Ratings Changes

A number of research analysts recently issued reports on the company. Guggenheim restated a “buy” rating and set a $7.00 price objective on shares of Eos Energy Enterprises in a research report on Tuesday, March 18th. Cowen reissued a “hold” rating on shares of Eos Energy Enterprises in a report on Friday, March 7th. Roth Capital cut shares of Eos Energy Enterprises from a “strong-buy” rating to a “hold” rating in a report on Thursday, February 20th. Finally, Roth Mkm downgraded shares of Eos Energy Enterprises from a “buy” rating to a “neutral” rating and lifted their price objective for the company from $4.00 to $5.00 in a research report on Thursday, February 20th. Five analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $4.70.

Eos Energy Enterprises Price Performance

The firm’s fifty day moving average is $4.77 and its two-hundred day moving average is $3.93. The firm has a market cap of $905.94 million, a price-to-earnings ratio of -1.66 and a beta of 2.15.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Legal & General Group Plc boosted 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 purchasing an additional 4,796,626 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new position in Eos Energy Enterprises during the fourth quarter valued at about $16,632,000. Alyeska Investment Group L.P. grew its holdings in Eos Energy Enterprises by 714.3% during the fourth quarter. Alyeska Investment Group L.P. now owns 1,628,500 shares of the company’s stock worth $7,915,000 after acquiring an additional 1,428,500 shares during the period. Barings LLC raised its position in Eos Energy Enterprises by 100.5% in the fourth quarter. Barings LLC now owns 2,403,448 shares of the company’s stock worth $11,681,000 after acquiring an additional 1,204,430 shares in the last quarter. Finally, Marshall Wace LLP raised its position in Eos Energy Enterprises by 154.6% in the fourth quarter. Marshall Wace LLP now owns 893,818 shares of the company’s stock worth $4,344,000 after acquiring an additional 542,718 shares in the last quarter. 54.87% of the stock is currently owned by institutional investors.

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.