Eos Energy Enterprises (NASDAQ:EOSE) Reaches New 52-Week High – Here’s Why

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

Wall Street Analyst Weigh In

Separately, Roth Mkm lowered their target price 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 research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $3.90.

Eos Energy Enterprises Stock Up 18.5 %

The business has a 50 day moving average of $3.72 and a 200 day moving average of $2.87. The company has a market capitalization of $1.34 billion, a P/E ratio of -2.56 and a beta of 2.09.

Institutional Investors Weigh In On Eos Energy Enterprises

A number of hedge funds have recently bought and sold shares of the business. Lake Street Private Wealth LLC purchased a new position in shares of Eos Energy Enterprises in the 4th quarter worth $51,000. Tidal Investments LLC purchased a new position in Eos Energy Enterprises in the third quarter worth about $993,000. Virtu Financial LLC bought a new stake in Eos Energy Enterprises during the third quarter worth approximately $206,000. Geode Capital Management LLC increased its stake in Eos Energy Enterprises by 18.0% during the third quarter. Geode Capital Management LLC now owns 2,468,648 shares of the company’s stock worth $7,335,000 after acquiring an additional 376,494 shares during the last quarter. Finally, State Street Corp raised its position in Eos Energy Enterprises by 9.5% during the third quarter. State Street Corp now owns 875,439 shares of the company’s stock valued at $2,600,000 after purchasing an additional 75,657 shares during the period. Hedge funds and other institutional investors own 54.87% of the company’s stock.

About Eos Energy Enterprises

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.