Eos Energy Enterprises (NASDAQ:EOSE) Shares Gap Down - What's Next?

Eos Energy Enterprises, Inc. (NASDAQ:EOSE - Get Free Report)'s share price gapped down before the market opened on Tuesday . The stock had previously closed at $5.40, but opened at $5.21. Eos Energy Enterprises shares last traded at $5.32, with a volume of 1,318,471 shares.

Analysts Set New Price Targets

Separately, Roth Mkm reduced 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 research note on Thursday, November 7th. Two analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $3.90.

Eos Energy Enterprises Stock Performance

The stock has a market cap of $1.07 billion, a P/E ratio of -2.04 and a beta of 2.10. The company's 50 day moving average price is $5.00 and its 200-day moving average price is $3.42.

Hedge Funds Weigh In On Eos Energy Enterprises

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Hollencrest Capital Management lifted its holdings in Eos Energy Enterprises by 1,000.0% during the third quarter. Hollencrest Capital Management now owns 8,250 shares of the company's stock valued at $25,000 after purchasing an additional 7,500 shares during the last quarter. Parkside Financial Bank & Trust bought a new stake in shares of Eos Energy Enterprises during the fourth quarter valued at about $29,000. R Squared Ltd bought a new stake in shares of Eos Energy Enterprises during the fourth quarter valued at about $31,000. WESPAC Advisors LLC bought a new stake in shares of Eos Energy Enterprises during the third quarter valued at about $32,000. Finally, Focused Wealth Management Inc bought a new position in shares of Eos Energy Enterprises in the third quarter worth approximately $46,000. 54.87% of the stock is owned by hedge funds and other 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.