Eos Energy Enterprises (NASDAQ:EOSE) Shares Up 8.4% – Should You Buy?

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

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on EOSE shares. Stifel Nicolaus restated a “buy” rating and issued a $6.00 target price on shares of Eos Energy Enterprises in a report on Wednesday, August 21st. Roth Mkm decreased their price target 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 issued a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $3.90.

Eos Energy Enterprises Price Performance

The firm’s 50-day moving average price is $3.00 and its 200-day moving average price is $2.30. The company has a market cap of $886.90 million, a price-to-earnings ratio of -1.69 and a beta of 2.31.

Institutional Trading of Eos Energy Enterprises

Large investors have recently bought and sold shares of the company. Hollencrest Capital Management boosted its stake in shares of Eos Energy Enterprises by 1,000.0% in the third 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 during the period. WESPAC Advisors LLC acquired a new stake in shares of Eos Energy Enterprises during the third quarter valued at about $32,000. Focused Wealth Management Inc purchased a new stake in shares of Eos Energy Enterprises during the third quarter worth about $46,000. Walleye Capital LLC acquired a new position in shares of Eos Energy Enterprises in the third quarter worth about $48,000. Finally, Cullen Frost Bankers Inc. boosted its holdings in Eos Energy Enterprises by 40.0% in the second quarter. Cullen Frost Bankers Inc. now owns 70,000 shares of the company’s stock valued at $89,000 after purchasing an additional 20,000 shares during the last quarter. Institutional investors and hedge funds 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.