Eos Energy Enterprises (NASDAQ:EOSE) Shares Down 5.4% – Should You Sell?

Eos Energy Enterprises, Inc. (NASDAQ:EOSE)’s share price dropped 5.4% on Tuesday . The company traded as low as $4.74 and last traded at $4.86. Approximately 4,100,242 shares traded hands during trading, a decline of 42% from the average daily volume of 7,011,155 shares. The stock had previously closed at $5.14.

Wall Street Analyst Weigh In

Separately, Roth Mkm lowered their target price 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 company. According to MarketBeat, Eos Energy Enterprises presently has an average rating of “Moderate Buy” and a consensus price target of $3.90.

Eos Energy Enterprises Stock Performance

The firm has a market capitalization of $1.05 billion, a price-to-earnings ratio of -2.00 and a beta of 2.31. The company has a 50-day moving average price of $3.20 and a 200-day moving average price of $2.51.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. Hollencrest Capital Management boosted its position in shares of Eos Energy Enterprises by 1,000.0% in the 3rd 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 purchased a new stake in Eos Energy Enterprises in the third quarter valued at approximately $32,000. Focused Wealth Management Inc acquired a new stake in shares of Eos Energy Enterprises in the third quarter valued at approximately $46,000. Walleye Capital LLC purchased a new position in shares of Eos Energy Enterprises during the third quarter worth approximately $48,000. Finally, Venture Visionary Partners LLC purchased a new position in shares of Eos Energy Enterprises during the third quarter worth approximately $59,000. 54.87% of the stock is 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.