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

Eos Energy Enterprises, Inc. (NASDAQ:EOSE)’s share price reached a new 52-week high on Thursday . The stock traded as high as $6.33 and last traded at $6.11, with a volume of 12494241 shares trading hands. The stock had previously closed at $5.20.

Analyst Upgrades and Downgrades

Separately, Roth Mkm dropped their price objective on 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. Two research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $3.90.

Eos Energy Enterprises Trading Down 2.3 %

The business’s 50-day simple moving average is $3.85 and its 200 day simple moving average is $2.93. The firm has a market cap of $1.31 billion, a PE ratio of -2.50 and a beta of 2.09.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Millennium Management LLC lifted its stake in shares of Eos Energy Enterprises by 5,744.5% during the 2nd 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. NewEdge Advisors LLC lifted its position in shares of Eos Energy Enterprises by 30.2% during the second quarter. NewEdge Advisors LLC now owns 2,588,823 shares of the company’s stock valued at $3,288,000 after buying an additional 600,143 shares during the last quarter. Geode Capital Management LLC boosted 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 buying an additional 376,494 shares in the last quarter. Brightline Capital Management LLC purchased a new position in shares of Eos Energy Enterprises in the 3rd quarter worth approximately $4,871,000. Finally, State Street Corp raised its stake in shares of Eos Energy Enterprises by 9.5% during the 3rd quarter. State Street Corp now owns 875,439 shares of the company’s stock worth $2,600,000 after acquiring an additional 75,657 shares in the last quarter. 54.87% of the stock is currently owned by hedge funds and other 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.