Eos Energy Enterprises (NASDAQ:EOSE) Stock Price Up 8.9% – Here’s Why

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

Analysts Set New Price Targets

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

Eos Energy Enterprises Stock Up 10.0 %

The firm has a market capitalization of $1.10 billion, a PE ratio of -2.10 and a beta of 2.09. The business’s 50-day moving average price is $3.67 and its 200-day moving average price is $2.86.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. Hollencrest Capital Management raised its stake 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 buying an additional 7,500 shares in the last quarter. WESPAC Advisors LLC bought a new position in shares of Eos Energy Enterprises in the third quarter valued at about $32,000. Focused Wealth Management Inc bought a new position in shares of Eos Energy Enterprises in the third quarter worth about $46,000. Walleye Capital LLC bought a new stake in shares of Eos Energy Enterprises during the third quarter valued at approximately $48,000. Finally, Venture Visionary Partners LLC bought a new stake in shares of Eos Energy Enterprises during the third quarter valued at approximately $59,000. 54.87% of the stock is currently owned by institutional investors and hedge funds.

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.