Eos Energy Enterprises (NASDAQ:EOSE) Trading 9.2% Higher – Should You Buy?

Eos Energy Enterprises, Inc. (NASDAQ:EOSE) rose 9.2% on Thursday . The company traded as high as $5.93 and last traded at $5.94. Approximately 1,375,744 shares changed hands during trading, a decline of 84% from the average daily volume of 8,711,193 shares. The stock had previously closed at $5.44.

Wall Street Analyst Weigh In

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

Eos Energy Enterprises Stock Down 1.2 %

The firm has a 50-day moving average price of $4.55 and a 200 day moving average price of $3.20. The firm has a market capitalization of $1.25 billion, a PE ratio of -2.38 and a beta of 2.09.

Institutional Investors Weigh In On Eos Energy Enterprises

Several large investors have recently bought and sold shares of EOSE. Montag A & Associates Inc. increased its stake in shares of Eos Energy Enterprises by 21.0% during the fourth quarter. Montag A & Associates Inc. now owns 13,809 shares of the company’s stock worth $67,000 after buying an additional 2,400 shares during the period. R Squared Ltd purchased a new stake in shares of Eos Energy Enterprises in the 4th quarter valued at approximately $31,000. Hollencrest Capital Management raised its holdings in shares of Eos Energy Enterprises by 1,000.0% in the 3rd quarter. Hollencrest Capital Management now owns 8,250 shares of the company’s stock valued at $25,000 after purchasing an additional 7,500 shares in the last quarter. Lake Street Private Wealth LLC purchased a new stake in shares of Eos Energy Enterprises during the 4th quarter worth $51,000. Finally, WESPAC Advisors LLC acquired a new position in shares of Eos Energy Enterprises during the third quarter worth $32,000. Hedge funds and other 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.