Eos Energy Enterprises (NASDAQ:EOSE) Shares Up 4.9% - Here's Why

Shares of Eos Energy Enterprises, Inc. (NASDAQ:EOSE - Get Free Report) traded up 4.9% on Tuesday . The stock traded as high as $3.97 and last traded at $3.97. 2,263,732 shares traded hands during trading, a decline of 69% from the average session volume of 7,352,384 shares. The stock had previously closed at $3.78.

Analyst Ratings Changes

A number of analysts have commented on the stock. Guggenheim reaffirmed a "buy" rating and set a $7.00 price objective on shares of Eos Energy Enterprises in a research note on Tuesday, March 18th. Roth Mkm downgraded Eos Energy Enterprises from a "buy" rating to a "neutral" rating and increased their price target for the company from $4.00 to $5.00 in a report on Thursday, February 20th. Cowen reissued a "hold" rating on shares of Eos Energy Enterprises in a research report on Friday, March 7th. Finally, Roth Capital lowered Eos Energy Enterprises from a "strong-buy" rating to a "hold" rating in a research note on Thursday, February 20th. Five research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company's stock. According to MarketBeat.com, Eos Energy Enterprises currently has a consensus rating of "Hold" and an average price target of $4.70.

Eos Energy Enterprises Price Performance

The stock has a market cap of $865.61 million, a P/E ratio of -1.59 and a beta of 2.17. The stock's 50 day simple moving average is $4.61 and its two-hundred day simple moving average is $3.96.

Hedge Funds Weigh In On Eos Energy Enterprises

A number of institutional investors have recently added to or reduced their stakes in the company. Stifel Financial Corp lifted its holdings in Eos Energy Enterprises by 6.4% during the 4th quarter. Stifel Financial Corp now owns 4,978,078 shares of the company's stock worth $24,193,000 after purchasing an additional 297,909 shares during the last quarter. Legal & General Group Plc increased its position in Eos Energy Enterprises by 61,220.5% during the 4th quarter. Legal & General Group Plc now owns 4,804,461 shares of the company's stock worth $23,350,000 after purchasing an additional 4,796,626 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new position in shares of Eos Energy Enterprises during the fourth quarter worth $16,632,000. Geode Capital Management LLC raised its position in Eos Energy Enterprises by 1.7% in the fourth quarter. Geode Capital Management LLC now owns 2,510,088 shares of the company's stock valued at $12,205,000 after purchasing an additional 41,440 shares during the last quarter. Finally, Barings LLC increased its stake in shares of Eos Energy Enterprises by 100.5% in the fourth quarter. Barings LLC now owns 2,403,448 shares of the company's stock valued at $11,681,000 after buying an additional 1,204,430 shares during the period. 54.87% of the stock is currently owned by institutional investors and hedge funds.

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.