Eos Energy Enterprises (NASDAQ:EOSE) Shares Up 7.9% – What’s Next?

Shares of Eos Energy Enterprises, Inc. (NASDAQ:EOSE) rose 7.9% during trading on Thursday . The company traded as high as $2.49 and last traded at $2.46. Approximately 2,329,439 shares traded hands during mid-day trading, a decline of 66% from the average daily volume of 6,791,856 shares. The stock had previously closed at $2.28.

Analysts Set New Price Targets

EOSE has been the topic of several recent analyst reports. Stifel Nicolaus reissued a “buy” rating and set a $6.00 price objective on shares of Eos Energy Enterprises in a research note on Wednesday, August 21st. Roth Mkm reduced their price target on shares of Eos Energy Enterprises from $4.50 to $4.00 and set a “buy” rating on the stock in a research report on Thursday, November 7th. Two analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, Eos Energy Enterprises currently has an average rating of “Moderate Buy” and a consensus target price of $3.90.

Eos Energy Enterprises Stock Up 7.6 %

The firm has a market capitalization of $588.36 million, a price-to-earnings ratio of -1.12 and a beta of 2.38. The business’s fifty day moving average is $2.85 and its 200 day moving average is $1.98.

Insider Activity

In other Eos Energy Enterprises news, Director Jeffrey S. Bornstein sold 30,000 shares of the business’s stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $2.62, for a total transaction of $78,600.00. Following the sale, the director now directly owns 84,929 shares of the company’s stock, valued at $222,513.98. The trade was a 26.10 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Corporate insiders own 3.80% of the company’s stock.

Institutional Trading of Eos Energy Enterprises

Hedge funds and other institutional investors have recently modified their holdings of the stock. Hollencrest Capital Management grew its stake in Eos Energy Enterprises by 1,000.0% in the third quarter. Hollencrest Capital Management now owns 8,250 shares of the company’s stock valued at $25,000 after purchasing an additional 7,500 shares in the last quarter. WESPAC Advisors LLC bought a new position in shares of Eos Energy Enterprises in the third quarter valued at $32,000. Focused Wealth Management Inc bought a new stake in Eos Energy Enterprises during the third quarter worth $46,000. Walleye Capital LLC bought a new stake in Eos Energy Enterprises during the third quarter worth $48,000. Finally, Price T Rowe Associates Inc. MD lifted its stake in Eos Energy Enterprises by 74.4% in the first quarter. Price T Rowe Associates Inc. MD now owns 43,930 shares of the company’s stock valued at $46,000 after acquiring an additional 18,735 shares during the last quarter. Institutional investors and hedge funds own 54.87% of the company’s stock.

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.