Eos Energy Enterprises (NASDAQ:EOSE) Trading 4.3% Higher – Time to Buy?

Shares of Eos Energy Enterprises, Inc. (NASDAQ:EOSE) traded up 4.3% during trading on Wednesday . The company traded as high as $4.22 and last traded at $4.28. 223,069 shares were traded during trading, a decline of 97% from the average session volume of 7,363,107 shares. The stock had previously closed at $4.10.

Wall Street Analysts Forecast Growth

A number of analysts have commented on the stock. Guggenheim reaffirmed a “buy” rating and set a $7.00 target price on shares of Eos Energy Enterprises in a report on Tuesday. Cowen reaffirmed a “hold” rating on shares of Eos Energy Enterprises in a report on Friday, March 7th. Roth Capital cut shares of Eos Energy Enterprises from a “strong-buy” rating to a “hold” rating in a report on Thursday, February 20th. Finally, Roth Mkm cut shares of Eos Energy Enterprises from a “buy” rating to a “neutral” rating and increased their price objective for the stock from $4.00 to $5.00 in a research note on Thursday, February 20th. Five equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, Eos Energy Enterprises presently has a consensus rating of “Hold” and a consensus price target of $4.70.

Eos Energy Enterprises Stock Up 8.2 %

The stock’s 50 day moving average price is $4.98 and its 200-day moving average price is $3.82. The stock has a market capitalization of $1.00 billion, a PE ratio of -1.84 and a beta of 2.15.

Hedge Funds Weigh In On Eos Energy Enterprises

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. California State Teachers Retirement System bought a new position in shares of Eos Energy Enterprises during the fourth quarter worth $908,000. B. Riley Wealth Advisors Inc. boosted its position in shares of Eos Energy Enterprises by 245.1% during the fourth quarter. B. Riley Wealth Advisors Inc. now owns 187,750 shares of the company’s stock worth $912,000 after acquiring an additional 133,350 shares during the last quarter. Alpine Global Management LLC bought a new position in shares of Eos Energy Enterprises during the fourth quarter worth $236,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC bought a new position in shares of Eos Energy Enterprises during the fourth quarter worth $1,581,000. Finally, Williams Jones Wealth Management LLC. bought a new position in shares of Eos Energy Enterprises during the fourth quarter worth $158,000. Institutional investors own 54.87% of the company’s stock.

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.