Eos Energy Enterprises (NASDAQ:EOSE) Shares Down 8.6% - Should You Sell?

Eos Energy Enterprises, Inc. (NASDAQ:EOSE - Get Free Report)'s stock price was down 8.6% on Tuesday . The stock traded as low as $5.42 and last traded at $5.35. Approximately 2,554,936 shares traded hands during mid-day trading, a decline of 71% from the average daily volume of 8,957,952 shares. The stock had previously closed at $5.85.

Wall Street Analyst Weigh In

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

Eos Energy Enterprises Price Performance

The stock has a market cap of $1.25 billion, a price-to-earnings ratio of -2.39 and a beta of 2.09. The company's fifty day simple moving average is $4.49 and its two-hundred day simple moving average is $3.17.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the company. Millennium Management LLC boosted its holdings in shares of Eos Energy Enterprises by 5,744.5% in the 2nd quarter. Millennium Management LLC now owns 3,164,017 shares of the company's stock worth $4,018,000 after buying an additional 3,109,880 shares during the last quarter. Brightline Capital Management LLC purchased a new stake in Eos Energy Enterprises in the third quarter worth $4,871,000. NewEdge Advisors LLC lifted its holdings in Eos Energy Enterprises by 30.2% during the second quarter. NewEdge Advisors LLC now owns 2,588,823 shares of the company's stock valued at $3,288,000 after purchasing an additional 600,143 shares during the last quarter. Geode Capital Management LLC lifted its stake in shares of Eos Energy Enterprises by 18.0% during the 3rd quarter. Geode Capital Management LLC now owns 2,468,648 shares of the company's stock valued at $7,335,000 after buying an additional 376,494 shares in the last quarter. Finally, Tidal Investments LLC purchased a new position in Eos Energy Enterprises in the 3rd quarter valued at approximately $993,000. 54.87% of the stock is owned by institutional investors.

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.