Eos Energy Enterprises (NASDAQ:EOSE) Trading Up 4.3% – Should You Buy?

Eos Energy Enterprises, Inc. (NASDAQ:EOSE)’s stock price traded up 4.3% during mid-day trading on Wednesday . The company traded as high as $4.22 and last traded at $4.28. 223,069 shares traded hands during mid-day trading, a decline of 97% from the average session volume of 7,363,107 shares. The stock had previously closed at $4.10.

Analysts Set New Price Targets

EOSE has been the subject of several recent research reports. Cowen reissued a “hold” rating on shares of Eos Energy Enterprises in a research report on Friday, March 7th. Roth Mkm cut Eos Energy Enterprises from a “buy” rating to a “neutral” rating and upped their price objective for the stock from $4.00 to $5.00 in a research note on Thursday, February 20th. Roth Capital cut shares of Eos Energy Enterprises from a “strong-buy” rating to a “hold” rating in a research note on Thursday, February 20th. Finally, Guggenheim reaffirmed a “buy” rating and set a $7.00 price target on shares of Eos Energy Enterprises in a research report on Tuesday. Five investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $4.70.

Eos Energy Enterprises Trading Down 4.1 %

The business has a 50 day moving average of $4.95 and a two-hundred day moving average of $3.83. The firm has a market cap of $965.31 million, a P/E ratio of -1.77 and a beta of 2.15.

Hedge Funds Weigh In On Eos Energy Enterprises

Large investors have recently modified their holdings of the stock. WESPAC Advisors LLC grew its stake in Eos Energy Enterprises by 16.6% in the 4th quarter. WESPAC Advisors LLC now owns 12,647 shares of the company’s stock valued at $61,000 after buying an additional 1,798 shares during the last quarter. Wells Fargo & Company MN boosted its holdings in shares of Eos Energy Enterprises by 3.6% during the fourth quarter. Wells Fargo & Company MN now owns 62,075 shares of the company’s stock worth $302,000 after acquiring an additional 2,175 shares during the period. Montag A & Associates Inc. grew its position in shares of Eos Energy Enterprises by 21.0% in the fourth quarter. Montag A & Associates Inc. now owns 13,809 shares of the company’s stock valued at $67,000 after purchasing an additional 2,400 shares during the last quarter. Parkside Financial Bank & Trust bought a new position in shares of Eos Energy Enterprises during the fourth quarter worth approximately $29,000. Finally, R Squared Ltd acquired a new stake in Eos Energy Enterprises during the 4th quarter worth approximately $31,000. 54.87% of the stock is owned by 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.