Eos Energy Enterprises (NASDAQ:EOSE) Trading 9.2% Higher – What’s Next?

Eos Energy Enterprises, Inc. (NASDAQ:EOSE)’s share price shot up 9.2% during trading on Thursday . The stock traded as high as $5.93 and last traded at $5.94. 1,375,744 shares changed hands during mid-day trading, a decline of 84% from the average session volume of 8,711,193 shares. The stock had previously closed at $5.44.

Wall Street Analysts Forecast Growth

Separately, Roth Mkm lowered their target price on shares of 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 investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $3.90.

Eos Energy Enterprises Stock Performance

The firm has a market capitalization of $1.25 billion, a price-to-earnings ratio of -2.38 and a beta of 2.09. The company has a 50 day moving average price of $4.55 and a two-hundred day moving average price of $3.20.

Institutional Investors Weigh In On Eos Energy Enterprises

Several institutional investors have recently bought and sold shares of EOSE. Millennium Management LLC lifted its stake in shares of Eos Energy Enterprises by 5,744.5% in the second quarter. Millennium Management LLC now owns 3,164,017 shares of the company’s stock worth $4,018,000 after buying an additional 3,109,880 shares in the last quarter. Geode Capital Management LLC boosted its holdings in shares of Eos Energy Enterprises by 18.0% during the 3rd quarter. Geode Capital Management LLC now owns 2,468,648 shares of the company’s stock worth $7,335,000 after purchasing an additional 376,494 shares during the last quarter. Tidal Investments LLC acquired a new position in shares of Eos Energy Enterprises during the 3rd quarter worth approximately $993,000. State Street Corp grew its position in shares of Eos Energy Enterprises by 9.5% in the third quarter. State Street Corp now owns 875,439 shares of the company’s stock valued at $2,600,000 after purchasing an additional 75,657 shares in the last quarter. Finally, FMR LLC increased its holdings in shares of Eos Energy Enterprises by 67.8% in the third quarter. FMR LLC now owns 58,651 shares of the company’s stock valued at $174,000 after purchasing an additional 23,706 shares during the last quarter. 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.