Eos Energy Enterprises (NASDAQ:EOSE) Shares Gap Up – Here’s What Happened

Eos Energy Enterprises, Inc. (NASDAQ:EOSE) gapped up prior to trading on Wednesday . The stock had previously closed at $3.91, but opened at $4.33. Eos Energy Enterprises shares last traded at $4.41, with a volume of 4,572,804 shares traded.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on EOSE shares. Roth Mkm cut their target price 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. Stifel Nicolaus restated a “buy” rating and set a $6.00 target price 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 four have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $3.90.

Eos Energy Enterprises Price Performance

The business has a 50 day moving average price of $2.97 and a 200 day moving average price of $2.29. The stock has a market capitalization of $915.23 million, a PE ratio of -1.86 and a beta of 2.31.

Institutional Trading of Eos Energy Enterprises

A number of institutional investors and hedge funds have recently bought and sold shares of the company. Hollencrest Capital Management grew its holdings 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 valued at $25,000 after buying an additional 7,500 shares during the last quarter. WESPAC Advisors LLC bought a new stake in shares of Eos Energy Enterprises in the 3rd quarter worth $32,000. Ground Swell Capital LLC purchased a new position in shares of Eos Energy Enterprises in the second quarter worth $34,000. Scientech Research LLC bought a new position in shares of Eos Energy Enterprises during the second quarter valued at $36,000. Finally, Focused Wealth Management Inc purchased a new stake in shares of Eos Energy Enterprises during the third quarter valued at $46,000. 54.87% of the stock is currently owned by 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.