Eos Energy Enterprises (NASDAQ:EOSE) Shares Up 8.4% - Should You Buy?

Eos Energy Enterprises, Inc. (NASDAQ:EOSE - Get Free Report) shares were up 8.4% on Thursday . The company traded as high as $4.43 and last traded at $4.38. Approximately 1,536,212 shares traded hands during mid-day trading, a decline of 78% from the average daily volume of 6,898,860 shares. The stock had previously closed at $4.04.

Wall Street Analyst Weigh In

A number of research firms have recently commented on EOSE. Roth Mkm dropped their price objective on Eos Energy Enterprises from $4.50 to $4.00 and set a "buy" rating for the company in a report on Thursday, November 7th. Stifel Nicolaus restated a "buy" rating and set a $6.00 price target on shares of Eos Energy Enterprises in a research note on Wednesday, August 21st. Two equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, Eos Energy Enterprises presently has a consensus rating of "Moderate Buy" and a consensus target price of $3.90.

Eos Energy Enterprises Trading Up 6.9 %

The stock's 50 day moving average price is $3.00 and its 200 day moving average price is $2.30. The firm has a market cap of $941.38 million, a PE ratio of -1.79 and a beta of 2.31.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Hollencrest Capital Management raised its holdings in shares of Eos Energy Enterprises by 1,000.0% during 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 during the period. WESPAC Advisors LLC acquired a new stake in Eos Energy Enterprises in the third quarter valued at approximately $32,000. Ground Swell Capital LLC purchased a new stake in shares of Eos Energy Enterprises during the second quarter valued at approximately $34,000. Scientech Research LLC acquired a new position in shares of Eos Energy Enterprises during the second quarter worth $36,000. Finally, Focused Wealth Management Inc purchased a new position in shares of Eos Energy Enterprises in the third quarter valued at $46,000. Institutional investors and hedge funds own 54.87% of the company's stock.

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.