Eos Energy Enterprises (NASDAQ:EOSE) Trading Up 8.6% – What’s Next?

Shares of Eos Energy Enterprises, Inc. (NASDAQ:EOSE) were up 8.6% during mid-day trading on Thursday . The stock traded as high as $4.95 and last traded at $4.95. Approximately 2,091,768 shares changed hands during mid-day trading, a decline of 70% from the average daily volume of 6,948,870 shares. The stock had previously closed at $4.56.

Analyst Ratings Changes

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

Eos Energy Enterprises Stock Performance

The business has a 50 day moving average of $3.13 and a 200-day moving average of $2.44. The company has a market capitalization of $1.15 billion, a P/E ratio of -2.19 and a beta of 2.32.

Institutional Trading of Eos Energy Enterprises

Several institutional investors and hedge funds have recently bought and sold shares of EOSE. Hollencrest Capital Management increased its holdings in shares of Eos Energy Enterprises by 1,000.0% in 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 during the period. WESPAC Advisors LLC bought a new position in Eos Energy Enterprises in the 3rd quarter worth about $32,000. Ground Swell Capital LLC purchased a new stake in Eos Energy Enterprises in the second quarter valued at approximately $34,000. Scientech Research LLC purchased a new stake in shares of Eos Energy Enterprises during the 2nd quarter valued at $36,000. Finally, Focused Wealth Management Inc purchased a new position in Eos Energy Enterprises in the third quarter worth $46,000. 54.87% of the stock is currently owned by hedge funds and other 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.