Eos Energy Enterprises (NASDAQ:EOSE) Hits New 12-Month High – Time to Buy?

Eos Energy Enterprises, Inc. (NASDAQ:EOSE) hit a new 52-week high on Monday . The company traded as high as $3.74 and last traded at $3.67, with a volume of 4064584 shares trading hands. The stock had previously closed at $3.40.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the company. Roth Mkm decreased their target price on Eos Energy Enterprises from $4.50 to $4.00 and set a “buy” rating on the stock in a research note on Thursday, November 7th. Stifel Nicolaus reissued a “buy” rating and set a $6.00 price target on shares of Eos Energy Enterprises in a research report on Wednesday, August 21st. Two research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, Eos Energy Enterprises presently has a consensus rating of “Moderate Buy” and a consensus price target of $3.90.

Eos Energy Enterprises Trading Up 20.0 %

The company has a market cap of $889.08 million, a PE ratio of -1.51 and a beta of 2.31. The company has a fifty day simple moving average of $2.94 and a two-hundred day simple moving average of $2.25.

Institutional Trading of Eos Energy Enterprises

Large investors have recently made changes to their positions in the company. Millennium Management LLC grew its holdings in Eos Energy Enterprises by 5,744.5% during the 2nd quarter. Millennium Management LLC now owns 3,164,017 shares of the company’s stock worth $4,018,000 after acquiring an additional 3,109,880 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. acquired a new stake in Eos Energy Enterprises in the second quarter valued at $216,000. Price T Rowe Associates Inc. MD raised its stake in Eos Energy Enterprises by 74.4% in the first 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 in the last quarter. NewEdge Advisors LLC lifted its holdings in Eos Energy Enterprises by 30.2% during the 2nd quarter. NewEdge Advisors LLC now owns 2,588,823 shares of the company’s stock worth $3,288,000 after buying an additional 600,143 shares during the last quarter. Finally, Cullen Frost Bankers Inc. boosted its position in shares of Eos Energy Enterprises by 40.0% during the 2nd quarter. Cullen Frost Bankers Inc. now owns 70,000 shares of the company’s stock worth $89,000 after acquiring an additional 20,000 shares in the last quarter. 54.87% of the stock is currently 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.