Eos Energy Enterprises (NASDAQ:EOSE) Shares Gap Up – Still a Buy?

Eos Energy Enterprises, Inc. (NASDAQ:EOSE) gapped up before the market opened on Wednesday . The stock had previously closed at $3.94, but opened at $4.20. Eos Energy Enterprises shares last traded at $4.44, with a volume of 1,782,040 shares.

Analysts Set New Price Targets

Several research firms have recently issued reports on EOSE. Roth Capital cut Eos Energy Enterprises from a “strong-buy” rating to a “hold” rating in a research note on Thursday, February 20th. Roth Mkm lowered shares of Eos Energy Enterprises from a “buy” rating to a “neutral” rating and raised their price objective for the company from $4.00 to $5.00 in a research report on Thursday, February 20th. Four equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat, Eos Energy Enterprises has a consensus rating of “Hold” and a consensus target price of $4.10.

Eos Energy Enterprises Stock Performance

The firm’s 50 day simple moving average is $5.16 and its 200-day simple moving average is $3.70. The company has a market capitalization of $987.14 million, a price-to-earnings ratio of -1.88 and a beta of 2.15.

Institutional Investors Weigh In On Eos Energy Enterprises

Several hedge funds have recently bought and sold shares of EOSE. Geode Capital Management LLC boosted its stake in shares of Eos Energy Enterprises by 18.0% during 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 during the period. Tidal Investments LLC acquired a new position in Eos Energy Enterprises in the third quarter worth approximately $993,000. FourThought Financial Partners LLC bought a new stake in Eos Energy Enterprises in the fourth quarter worth approximately $1,335,000. State Street Corp increased 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 purchasing an additional 75,657 shares during the last quarter. Finally, Vontobel Holding Ltd. bought a new position in shares of Eos Energy Enterprises during the 4th quarter valued at $146,000. 54.87% of the stock is owned by hedge funds and other institutional investors.

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.