Eos Energy Enterprises (NASDAQ:EOSE) Reaches New 52-Week High – What’s Next?

Eos Energy Enterprises, Inc. (NASDAQ:EOSE)’s stock price hit a new 52-week high on Monday . The stock traded as high as $3.74 and last traded at $3.67, with a volume of 4064584 shares. The stock had previously closed at $3.40.

Analyst Upgrades and Downgrades

A number of research firms recently commented on EOSE. Roth Mkm dropped 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 report on Thursday, November 7th. Stifel Nicolaus reaffirmed a “buy” rating and set a $6.00 price objective on shares of Eos Energy Enterprises in a report on Wednesday, August 21st. Two equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, Eos Energy Enterprises presently has an average rating of “Moderate Buy” and a consensus price target of $3.90.

Eos Energy Enterprises Stock Performance

The company has a market capitalization of $889.08 million, a PE ratio of -1.51 and a beta of 2.31. The company’s 50-day simple moving average is $2.94 and its 200-day simple moving average is $2.25.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Millennium Management LLC raised its stake in shares of Eos Energy Enterprises by 5,744.5% during the second quarter. Millennium Management LLC now owns 3,164,017 shares of the company’s stock worth $4,018,000 after purchasing an additional 3,109,880 shares during the last quarter. Brightline Capital Management LLC acquired a new position in Eos Energy Enterprises in the 3rd quarter valued at $4,871,000. NewEdge Advisors LLC raised its position in Eos Energy Enterprises by 30.2% during the 2nd quarter. NewEdge Advisors LLC now owns 2,588,823 shares of the company’s stock worth $3,288,000 after buying an additional 600,143 shares during the last quarter. Geode Capital Management LLC lifted its stake in shares of 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 acquiring an additional 376,494 shares during the period. Finally, Tidal Investments LLC purchased a new stake in shares of Eos Energy Enterprises in the third quarter valued at about $993,000. 54.87% of the stock is currently owned by hedge funds and other 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.