Eos Energy Enterprises (NASDAQ:EOSE) Trading 8.6% Higher - Still a Buy?

Eos Energy Enterprises, Inc. (NASDAQ:EOSE - Get Free Report) shares shot up 8.6% on Thursday . The company traded as high as $4.95 and last traded at $4.95. 2,091,768 shares changed hands during trading, a decline of 70% from the average session volume of 6,948,870 shares. The stock had previously closed at $4.56.

Analysts Set New Price Targets

Separately, Roth Mkm reduced 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 report on Thursday, November 7th. Two investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $3.90.

Eos Energy Enterprises Stock Up 13.4 %

The stock's fifty day simple moving average is $3.13 and its 200-day simple moving average is $2.44. The company has a market capitalization of $1.13 billion, a PE ratio of -2.15 and a beta of 2.32.

Institutional Trading of Eos Energy Enterprises

Hedge funds and other institutional investors have recently bought and sold shares of the company. Tidal Investments LLC acquired a new position in shares of Eos Energy Enterprises in the 3rd quarter valued at $993,000. Virtu Financial LLC purchased a new stake in shares of Eos Energy Enterprises during the 3rd quarter valued at about $206,000. Geode Capital Management LLC raised its stake in shares of Eos Energy Enterprises by 18.0% during the third quarter. Geode Capital Management LLC now owns 2,468,648 shares of the company's stock valued at $7,335,000 after purchasing an additional 376,494 shares during the period. State Street Corp lifted its holdings in Eos Energy Enterprises by 9.5% in the 3rd quarter. State Street Corp now owns 875,439 shares of the company's stock worth $2,600,000 after buying an additional 75,657 shares in the last quarter. Finally, Walleye Capital LLC acquired a new position in shares of Eos Energy Enterprises in the third quarter worth about $48,000. 54.87% of the stock is owned by hedge funds and other 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.