Eos Energy Enterprises (NASDAQ:EOSE) Trading Down 4.5% - Should You Sell?

Eos Energy Enterprises, Inc. (NASDAQ:EOSE - Get Free Report)'s share price fell 4.5% during mid-day trading on Wednesday . The company traded as low as $5.65 and last traded at $5.68. 3,040,180 shares changed hands during trading, a decline of 65% from the average session volume of 8,582,544 shares. The stock had previously closed at $5.94.

Analyst Ratings Changes

Separately, Roth Mkm decreased their price target on 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 stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $3.90.

Eos Energy Enterprises Stock Performance

The firm has a market capitalization of $1.16 billion, a PE ratio of -2.21 and a beta of 2.10. The firm's 50-day moving average is $4.83 and its 200 day moving average is $3.35.

Hedge Funds Weigh In On Eos Energy Enterprises

Several hedge funds have recently bought and sold shares of EOSE. Daiwa Securities Group Inc. purchased a new position in Eos Energy Enterprises in the 4th quarter valued at about $101,000. Barings LLC lifted its stake in shares of Eos Energy Enterprises by 100.5% during the 4th quarter. Barings LLC now owns 2,403,448 shares of the company's stock worth $11,681,000 after purchasing an additional 1,204,430 shares during the period. Amundi acquired a new stake in shares of Eos Energy Enterprises during the fourth quarter worth $253,000. Carmel Capital Partners LLC purchased a new stake in shares of Eos Energy Enterprises in the fourth quarter valued at $49,000. Finally, Raymond James Financial Inc. acquired a new position in Eos Energy Enterprises in the fourth quarter valued at $315,000. Hedge funds and other institutional investors 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.