Eos Energy Enterprises (NASDAQ:EOSE) Trading 4.3% Higher – Time to Buy?

Shares of Eos Energy Enterprises, Inc. (NASDAQ:EOSE) traded up 4.3% during trading on Wednesday . The stock traded as high as $4.22 and last traded at $4.28. 223,069 shares changed hands during trading, a decline of 97% from the average session volume of 7,363,107 shares. The stock had previously closed at $4.10.

Analysts Set New Price Targets

Several equities analysts have commented on the stock. Roth Capital lowered shares of Eos Energy Enterprises from a “strong-buy” rating to a “hold” rating in a research report on Thursday, February 20th. Cowen reiterated a “hold” rating on shares of Eos Energy Enterprises in a research report on Friday, March 7th. Roth Mkm lowered shares of Eos Energy Enterprises from a “buy” rating to a “neutral” rating and increased their price objective for the company from $4.00 to $5.00 in a research report on Thursday, February 20th. Finally, Guggenheim restated a “buy” rating and issued a $7.00 target price on shares of Eos Energy Enterprises in a report on Tuesday. Five analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, Eos Energy Enterprises presently has a consensus rating of “Hold” and an average target price of $4.70.

Eos Energy Enterprises Stock Performance

The business’s 50 day moving average is $4.98 and its 200 day moving average is $3.82. The company has a market capitalization of $1.00 billion, a price-to-earnings ratio of -1.84 and a beta of 2.15.

Institutional Trading of Eos Energy Enterprises

A number of institutional investors have recently bought and sold shares of EOSE. Legal & General Group Plc boosted its stake in Eos Energy Enterprises by 61,220.5% in the 4th quarter. Legal & General Group Plc now owns 4,804,461 shares of the company’s stock worth $23,350,000 after purchasing an additional 4,796,626 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new stake in Eos Energy Enterprises during the 4th quarter valued at approximately $16,632,000. Brightline Capital Management LLC acquired a new stake in Eos Energy Enterprises during the 3rd quarter valued at approximately $4,871,000. Alyeska Investment Group L.P. lifted its stake in Eos Energy Enterprises by 714.3% during the 4th quarter. Alyeska Investment Group L.P. now owns 1,628,500 shares of the company’s stock valued at $7,915,000 after acquiring an additional 1,428,500 shares during the period. Finally, Barings LLC lifted its stake in Eos Energy Enterprises by 100.5% during the 4th quarter. Barings LLC now owns 2,403,448 shares of the company’s stock valued at $11,681,000 after acquiring an additional 1,204,430 shares during the period. 54.87% of the stock is currently owned by institutional investors and hedge funds.

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.