Eos Energy Enterprises (NASDAQ:EOSE) Stock Price Up 7.9% – What’s Next?

Eos Energy Enterprises, Inc. (NASDAQ:EOSE)’s stock price rose 7.9% on Thursday . The stock traded as high as $2.49 and last traded at $2.46. Approximately 2,329,439 shares were traded during trading, a decline of 66% from the average daily volume of 6,791,856 shares. The stock had previously closed at $2.28.

Wall Street Analyst Weigh In

EOSE has been the topic of a number of research reports. Stifel Nicolaus reaffirmed a “buy” rating and issued a $6.00 price objective on shares of Eos Energy Enterprises in a report on Wednesday, August 21st. Roth Mkm decreased their price target on shares of 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. Two equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock 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 market capitalization of $588.36 million, a price-to-earnings ratio of -1.12 and a beta of 2.38. The firm has a fifty day moving average price of $2.85 and a 200-day moving average price of $1.98.

Insiders Place Their Bets

In other Eos Energy Enterprises news, Director Jeffrey S. Bornstein sold 30,000 shares of the firm’s stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $2.62, for a total value of $78,600.00. Following the sale, the director now owns 84,929 shares of the company’s stock, valued at approximately $222,513.98. This trade represents a 26.10 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Corporate insiders own 3.80% of the company’s stock.

Institutional Trading of Eos Energy Enterprises

Several institutional investors and hedge funds have recently modified their holdings of EOSE. Virtu Financial LLC acquired a new position in shares of Eos Energy Enterprises during the third quarter worth $206,000. Geode Capital Management LLC increased its holdings in Eos Energy Enterprises by 18.0% in the 3rd quarter. Geode Capital Management LLC now owns 2,468,648 shares of the company’s stock worth $7,335,000 after purchasing an additional 376,494 shares in the last quarter. State Street Corp raised its position in Eos Energy Enterprises by 9.5% in the third quarter. State Street Corp now owns 875,439 shares of the company’s stock valued at $2,600,000 after purchasing an additional 75,657 shares during the last quarter. Walleye Capital LLC bought a new position in Eos Energy Enterprises in the third quarter valued at about $48,000. Finally, Brightline Capital Management LLC bought a new position in shares of Eos Energy Enterprises during the third quarter valued at $4,871,000. 54.87% of the stock is currently owned by 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.