Eos Energy Enterprises (NASDAQ:EOSE) Shares Down 5.3% - What's Next?

Eos Energy Enterprises, Inc. (NASDAQ:EOSE - Get Free Report)'s share price was down 5.3% during trading on Friday . The stock traded as low as $4.94 and last traded at $4.96. Approximately 2,017,565 shares traded hands during trading, a decline of 75% from the average daily volume of 8,117,990 shares. The stock had previously closed at $5.23.

Analyst Upgrades and Downgrades

Separately, Roth Mkm decreased their price target on Eos Energy Enterprises from $4.50 to $4.00 and set a "buy" rating for the company 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. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $3.90.

Eos Energy Enterprises Stock Down 2.3 %

The stock has a market capitalization of $1.04 billion, a price-to-earnings ratio of -1.99 and a beta of 2.10. The stock's 50-day simple moving average is $5.07 and its 200 day simple moving average is $3.48.

Institutional Investors Weigh In On Eos Energy Enterprises

A number of institutional investors have recently made changes to their positions in EOSE. Venture Visionary Partners LLC bought a new stake in Eos Energy Enterprises during the 3rd quarter worth approximately $59,000. CENTRAL TRUST Co acquired a new position in shares of Eos Energy Enterprises during the 3rd quarter worth approximately $148,000. Cutter & CO Brokerage Inc. acquired a new stake in Eos Energy Enterprises in the third quarter valued at $256,000. PBMares Wealth Management LLC bought a new position in Eos Energy Enterprises during the third quarter worth about $166,000. Finally, James Investment Research Inc. raised its stake in Eos Energy Enterprises by 50.8% in the 3rd quarter. James Investment Research Inc. now owns 118,339 shares of the company's stock valued at $351,000 after acquiring an additional 39,854 shares during the period. 54.87% of the stock is owned by institutional investors and hedge funds.

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.