Eos Energy Enterprises (NASDAQ:EOSE) Trading 8.9% Higher – What’s Next?

Eos Energy Enterprises, Inc. (NASDAQ:EOSE) shares traded up 8.9% on Wednesday . The company traded as high as $5.03 and last traded at $5.01. 1,950,744 shares were traded during mid-day trading, a decline of 76% from the average session volume of 8,013,365 shares. The stock had previously closed at $4.60.

Analyst Ratings Changes

Separately, Roth Mkm cut their price objective 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 stock has an average rating of “Moderate Buy” and an average target price of $3.90.

Eos Energy Enterprises Stock Up 18.5 %

The stock’s fifty day moving average price is $3.79 and its 200 day moving average price is $2.90. The stock has a market cap of $1.34 billion, a PE ratio of -2.56 and a beta of 2.09.

Institutional Investors Weigh In On Eos Energy Enterprises

A number of institutional investors have recently made changes to their positions in the company. Lake Street Private Wealth LLC purchased a new stake in shares of Eos Energy Enterprises during the fourth quarter valued at approximately $51,000. Tidal Investments LLC purchased a new stake in shares of Eos Energy Enterprises during the third quarter valued at approximately $993,000. Virtu Financial LLC bought a new position in Eos Energy Enterprises during the third quarter valued at approximately $206,000. Geode Capital Management LLC lifted its position 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 valued at $7,335,000 after purchasing an additional 376,494 shares during the period. Finally, State Street Corp lifted 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.