Eos Energy Enterprises (NASDAQ:EOSE) Shares Gap Up - Time to Buy?

Shares of Eos Energy Enterprises, Inc. (NASDAQ:EOSE - Get Free Report) gapped up before the market opened on Friday . The stock had previously closed at $5.17, but opened at $5.30. Eos Energy Enterprises shares last traded at $5.32, with a volume of 1,977,645 shares trading hands.

Wall Street Analyst Weigh In

Separately, Roth Mkm decreased 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 equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $3.90.

Eos Energy Enterprises Price Performance

The stock has a fifty day moving average of $3.20 and a 200-day moving average of $2.49. The firm has a market capitalization of $1.13 billion, a P/E ratio of -2.15 and a beta of 2.32.

Hedge Funds Weigh In On Eos Energy Enterprises

A number of institutional investors have recently modified their holdings of EOSE. Cullen Frost Bankers Inc. raised its position in Eos Energy Enterprises by 40.0% in the 2nd quarter. Cullen Frost Bankers Inc. now owns 70,000 shares of the company's stock worth $89,000 after purchasing an additional 20,000 shares during the last quarter. Ground Swell Capital LLC bought a new position in Eos Energy Enterprises in the second quarter valued at about $34,000. Point72 DIFC Ltd acquired a new stake in Eos Energy Enterprises in the second quarter worth about $83,000. Cubist Systematic Strategies LLC raised its holdings in Eos Energy Enterprises by 138,544.3% during the 2nd quarter. Cubist Systematic Strategies LLC now owns 134,485 shares of the company's stock worth $171,000 after purchasing an additional 134,388 shares during the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. acquired a new position in Eos Energy Enterprises during the 2nd quarter valued at about $216,000. 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.