Eos Energy Enterprises (NASDAQ:EOSE) Stock Price Down 6.9% – What’s Next?

Eos Energy Enterprises, Inc. (NASDAQ:EOSE) shares traded down 6.9% on Tuesday . The stock traded as low as $3.73 and last traded at $3.76. Approximately 5,409,727 shares were traded during trading, a decline of 21% from the average session volume of 6,851,190 shares. The stock had previously closed at $4.04.

Wall Street Analyst Weigh In

EOSE has been the subject of several analyst reports. 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. Stifel Nicolaus reiterated a “buy” rating and set a $6.00 target price on shares of Eos Energy Enterprises in a research note 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. Based on data from MarketBeat.com, Eos Energy Enterprises currently has a consensus rating of “Moderate Buy” and an average price target of $3.90.

Eos Energy Enterprises Trading Up 6.9 %

The firm’s 50 day moving average price is $3.00 and its 200-day moving average price is $2.30. The company has a market cap of $941.38 million, a P/E ratio of -1.79 and a beta of 2.31.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of EOSE. Hollencrest Capital Management boosted its position in shares of 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 purchasing an additional 7,500 shares in the last quarter. WESPAC Advisors LLC acquired a new stake in Eos Energy Enterprises during the 3rd quarter worth $32,000. Focused Wealth Management Inc bought a new position in Eos Energy Enterprises during the third quarter worth about $46,000. Walleye Capital LLC bought a new position in Eos Energy Enterprises during the third quarter worth about $48,000. Finally, Venture Visionary Partners LLC acquired a new position in Eos Energy Enterprises in the third quarter valued at about $59,000. 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.