Eos Energy Enterprises (NASDAQ:EOSE) Stock Price Up 8.6% – Time to Buy?

Eos Energy Enterprises, Inc. (NASDAQ:EOSE) shot up 8.6% during trading on Thursday . The company traded as high as $4.95 and last traded at $4.95. 2,091,768 shares were traded during trading, a decline of 70% from the average session volume of 6,948,870 shares. The stock had previously closed at $4.56.

Wall Street Analysts Forecast Growth

Separately, Roth Mkm lowered their price objective on shares of Eos Energy Enterprises from $4.50 to $4.00 and set a “buy” rating for the company in a report on Thursday, November 7th. Two research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, Eos Energy Enterprises currently has a consensus rating of “Moderate Buy” and an average target price of $3.90.

Eos Energy Enterprises Stock Up 15.8 %

The stock has a market cap of $1.15 billion, a PE ratio of -2.19 and a beta of 2.32. The business’s 50-day simple moving average is $3.13 and its 200-day simple moving average is $2.44.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Hollencrest Capital Management increased its stake 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 period. WESPAC Advisors LLC purchased a new position in Eos Energy Enterprises during the 3rd quarter valued at $32,000. Ground Swell Capital LLC bought a new position in Eos Energy Enterprises in the 2nd quarter worth $34,000. Scientech Research LLC purchased a new stake in shares of Eos Energy Enterprises in the 2nd quarter worth about $36,000. Finally, Focused Wealth Management Inc bought a new stake in shares of Eos Energy Enterprises during the 3rd quarter valued at about $46,000. Institutional investors own 54.87% of the company’s stock.

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.