Eos Energy Enterprises (NASDAQ:EOSE) Shares Down 10.6% – Time to Sell?

Eos Energy Enterprises, Inc. (NASDAQ:EOSE)’s share price fell 10.6% during trading on Tuesday . The company traded as low as $5.64 and last traded at $5.38. 2,433,747 shares traded hands during trading, a decline of 73% from the average session volume of 9,082,292 shares. The stock had previously closed at $6.02.

Analyst Upgrades and Downgrades

Separately, Roth Mkm lowered their price objective on Eos Energy Enterprises from $4.50 to $4.00 and set a “buy” rating for the company in a research note on Thursday, November 7th. Two research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $3.90.

Eos Energy Enterprises Price Performance

The company has a market cap of $1.35 billion, a PE ratio of -2.57 and a beta of 2.09. The business has a 50 day moving average of $4.06 and a 200 day moving average of $3.02.

Institutional Investors Weigh In On Eos Energy Enterprises

Several hedge funds have recently bought and sold shares of the business. R Squared Ltd purchased a new position in shares of Eos Energy Enterprises in the 4th quarter worth about $31,000. Hollencrest Capital Management raised its holdings in Eos Energy Enterprises by 1,000.0% in the third quarter. Hollencrest Capital Management now owns 8,250 shares of the company’s stock worth $25,000 after buying an additional 7,500 shares during the last quarter. Lake Street Private Wealth LLC purchased a new position in Eos Energy Enterprises in the fourth quarter worth about $51,000. WESPAC Advisors LLC bought a new position in shares of Eos Energy Enterprises in the third quarter worth approximately $32,000. Finally, Harel Insurance Investments & Financial Services Ltd. purchased a new stake in shares of Eos Energy Enterprises during the fourth quarter valued at approximately $58,000. Institutional investors 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.