Eos Energy Enterprises (NASDAQ:EOSE) Trading Down 6.9% - Should You Sell?

Shares of Eos Energy Enterprises, Inc. (NASDAQ:EOSE - Get Free Report) were down 6.9% during mid-day trading on Tuesday . The company traded as low as $3.73 and last traded at $3.76. Approximately 5,409,727 shares were traded during mid-day trading, a decline of 21% from the average daily volume of 6,851,190 shares. The stock had previously closed at $4.04.

Wall Street Analysts Forecast Growth

EOSE has been the subject of several analyst reports. Roth Mkm decreased their price objective on shares of 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. Stifel Nicolaus reaffirmed a "buy" rating and set a $6.00 price target on shares of Eos Energy Enterprises in a research report on Wednesday, August 21st. Two investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, Eos Energy Enterprises has an average rating of "Moderate Buy" and an average target price of $3.90.

Eos Energy Enterprises Trading Down 3.2 %

The stock's 50-day moving average price is $2.97 and its two-hundred day moving average price is $2.29. The stock has a market capitalization of $852.04 million, a P/E ratio of -1.62 and a beta of 2.31.

Institutional Trading of Eos Energy Enterprises

Large investors have recently bought and sold shares of the company. Tidal Investments LLC bought a new position in shares of Eos Energy Enterprises during the 3rd quarter worth $993,000. Virtu Financial LLC purchased a new stake in Eos Energy Enterprises during the third quarter valued at about $206,000. Geode Capital Management LLC lifted its holdings 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 last quarter. State Street Corp boosted 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 worth $2,600,000 after purchasing an additional 75,657 shares during the period. Finally, Walleye Capital LLC purchased a new position in shares of Eos Energy Enterprises in the third quarter worth about $48,000. 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.