Eos Energy Enterprises (NASDAQ:EOSE) Sets New 52-Week High – Still a Buy?

Eos Energy Enterprises, Inc. (NASDAQ:EOSE)’s stock price hit a new 52-week high during mid-day trading on Monday . The stock traded as high as $4.71 and last traded at $4.68, with a volume of 3268497 shares traded. The stock had previously closed at $4.57.

Wall Street Analyst Weigh In

Separately, Roth Mkm reduced their target price 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 issued a buy rating to the company. Based on data from MarketBeat.com, Eos Energy Enterprises has an average rating of “Moderate Buy” and an average price target of $3.90.

Eos Energy Enterprises Price Performance

The stock has a market capitalization of $1.02 billion, a PE ratio of -1.94 and a beta of 2.31. The firm’s 50 day simple moving average is $3.05 and its 200 day simple moving average is $2.37.

Hedge Funds Weigh In On Eos Energy Enterprises

A number of large investors have recently added to or reduced their stakes in the business. Hollencrest Capital Management boosted its position in Eos Energy Enterprises by 1,000.0% during the third quarter. Hollencrest Capital Management now owns 8,250 shares of the company’s stock valued at $25,000 after buying an additional 7,500 shares during the period. WESPAC Advisors LLC purchased a new stake in Eos Energy Enterprises during the 3rd quarter valued at about $32,000. Ground Swell Capital LLC bought a new position in Eos Energy Enterprises during the 2nd quarter worth approximately $34,000. Scientech Research LLC bought a new position in Eos Energy Enterprises during the 2nd quarter worth approximately $36,000. Finally, Focused Wealth Management Inc bought a new stake in Eos Energy Enterprises in the third quarter valued at approximately $46,000. Hedge funds and other institutional investors 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.