Eos Energy Enterprises (NASDAQ:EOSE) Shares Up 6.4% – What’s Next?

Shares of Eos Energy Enterprises, Inc. (NASDAQ:EOSE) rose 6.4% during trading on Thursday . The stock traded as high as $3.17 and last traded at $3.16. Approximately 6,283,725 shares were traded during mid-day trading, a decline of 8% from the average daily volume of 6,809,174 shares. The stock had previously closed at $2.97.

Analyst Upgrades and Downgrades

EOSE has been the topic of several recent analyst reports. Roth Mkm dropped their target price on Eos Energy Enterprises from $4.50 to $4.00 and set a “buy” rating on the stock in a research report on Thursday, November 7th. Stifel Nicolaus reiterated a “buy” rating and issued a $6.00 price objective on shares of Eos Energy Enterprises in a research report 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’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $3.90.

Eos Energy Enterprises Price Performance

The company has a market cap of $699.49 million, a PE ratio of -1.33 and a beta of 2.31. The company has a 50-day moving average price of $2.92 and a two-hundred day moving average price of $2.14.

Insider Activity at Eos Energy Enterprises

In other Eos Energy Enterprises news, Director Jeffrey S. Bornstein sold 30,000 shares of the stock in a transaction on Thursday, September 12th. The shares were 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 position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Company insiders own 3.80% of the company’s stock.

Institutional Investors Weigh In On Eos Energy Enterprises

Several hedge funds and other institutional investors have recently modified their holdings of EOSE. Hollencrest Capital Management boosted its holdings in 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 stake in shares of Eos Energy Enterprises during the 3rd quarter valued at about $32,000. Ground Swell Capital LLC acquired a new position in Eos Energy Enterprises in the second quarter valued at approximately $34,000. Scientech Research LLC bought a new stake in Eos Energy Enterprises in the second quarter valued at $36,000. Finally, Price T Rowe Associates Inc. MD grew 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 last quarter. Institutional investors 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.