Eos Energy Enterprises (NASDAQ:EOSE) Shares Gap Up – Still a Buy?

Shares of 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.

Analyst Ratings Changes

A number of brokerages have weighed in on EOSE. Roth Mkm decreased their target price on shares of Eos Energy Enterprises from $4.50 to $4.00 and set a “buy” rating for the company in a research note 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 research report on Wednesday, August 21st. Two equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat, Eos Energy Enterprises presently has an average rating of “Moderate Buy” and an average price target of $3.90.

Eos Energy Enterprises Stock Performance

The business’s fifty day moving average price is $2.97 and its two-hundred day moving average price is $2.29. The stock has a market capitalization of $915.23 million, a P/E ratio of -1.86 and a beta of 2.31.

Institutional Investors Weigh In On Eos Energy Enterprises

Institutional investors and hedge funds have recently modified their holdings of the business. Tidal Investments LLC purchased a new stake in shares of Eos Energy Enterprises during the third quarter valued at $993,000. Virtu Financial LLC purchased a new stake in Eos Energy Enterprises in the third quarter worth about $206,000. Geode Capital Management LLC raised its holdings 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 valued at $7,335,000 after purchasing an additional 376,494 shares in the last quarter. State Street Corp lifted its position in shares of Eos Energy Enterprises by 9.5% in the 3rd quarter. State Street Corp now owns 875,439 shares of the company’s stock worth $2,600,000 after purchasing an additional 75,657 shares during the period. Finally, Walleye Capital LLC purchased a new position in Eos Energy Enterprises during the third quarter valued at approximately $48,000. 54.87% of the stock is 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.