Eos Energy Enterprises (NASDAQ:EOSE) Trading Up 5.6% – Still a Buy?

Eos Energy Enterprises, Inc. (NASDAQ:EOSE)’s share price shot up 5.6% during trading on Friday . The company traded as high as $2.88 and last traded at $2.85. 732,819 shares traded hands during mid-day trading, a decline of 89% from the average session volume of 6,758,776 shares. The stock had previously closed at $2.70.

Analyst Ratings Changes

Several research analysts recently weighed in on EOSE shares. Roth Mkm reduced their price target on shares of 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. Stifel Nicolaus restated a “buy” rating and issued a $6.00 price objective on shares of Eos Energy Enterprises in a report on Wednesday, August 21st. Two investment analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat, Eos Energy Enterprises currently has a consensus rating of “Moderate Buy” and a consensus target price of $3.90.

Eos Energy Enterprises Stock Up 8.9 %

The stock has a 50-day moving average of $2.86 and a 200 day moving average of $2.04. The stock has a market cap of $640.66 million, a PE ratio of -1.20 and a beta of 2.38.

Insider Activity

In other Eos Energy Enterprises news, Director Jeffrey S. Bornstein sold 30,000 shares of the company’s stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $2.62, for a total transaction of $78,600.00. Following the transaction, the director now directly owns 84,929 shares in the company, valued at $222,513.98. This represents a 26.10 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 3.80% of the company’s stock.

Hedge Funds Weigh In On Eos Energy Enterprises

Several hedge funds have recently bought and sold shares of EOSE. Hollencrest Capital Management boosted its stake 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 valued at $25,000 after purchasing an additional 7,500 shares during the period. WESPAC Advisors LLC acquired a new stake in Eos Energy Enterprises during the 3rd quarter worth approximately $32,000. Focused Wealth Management Inc purchased a new position in Eos Energy Enterprises in the 3rd quarter valued at approximately $46,000. Walleye Capital LLC acquired a new position in shares of Eos Energy Enterprises in the third quarter worth $48,000. Finally, Price T Rowe Associates Inc. MD increased its position in shares of Eos Energy Enterprises by 74.4% during the first quarter. Price T Rowe Associates Inc. MD now owns 43,930 shares of the company’s stock worth $46,000 after acquiring an additional 18,735 shares during the period. Institutional investors and hedge funds own 54.87% of the company’s stock.

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.