Eos Energy Enterprises (NASDAQ:EOSE) Stock Price Up 8.4% – Here’s Why

Eos Energy Enterprises, Inc. (NASDAQ:EOSE)’s stock price rose 8.4% during mid-day trading on Thursday . The stock traded as high as $4.43 and last traded at $4.38. Approximately 1,536,212 shares changed hands during mid-day trading, a decline of 78% from the average daily volume of 6,898,860 shares. The stock had previously closed at $4.04.

Wall Street Analysts Forecast Growth

Separately, Roth Mkm dropped 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 research note on Thursday, November 7th. Two equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $3.90.

Eos Energy Enterprises Price Performance

The stock has a 50-day moving average price of $3.05 and a 200-day moving average price of $2.34. The firm has a market capitalization of $995.86 million, a PE ratio of -1.90 and a beta of 2.31.

Institutional Investors Weigh In On Eos Energy Enterprises

Hedge funds and other institutional investors have recently bought and sold shares of the business. Hollencrest Capital Management boosted its stake in shares of Eos Energy Enterprises by 1,000.0% during the 3rd 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 last quarter. WESPAC Advisors LLC acquired a new stake in Eos Energy Enterprises in the third quarter valued at $32,000. Focused Wealth Management Inc bought a new position in Eos Energy Enterprises during the 3rd quarter valued at $46,000. Walleye Capital LLC acquired a new position in Eos Energy Enterprises during the 3rd quarter worth $48,000. Finally, Venture Visionary Partners LLC bought a new stake in shares of Eos Energy Enterprises in the 3rd quarter worth about $59,000. 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.