Eos Energy Enterprises (NASDAQ:EOSE) Shares Gap Up – Should You Buy?

Eos Energy Enterprises, Inc. (NASDAQ:EOSE)’s stock price gapped up prior to trading on Wednesday . The stock had previously closed at $3.91, but opened at $4.33. Eos Energy Enterprises shares last traded at $4.41, with a volume of 4,572,804 shares.

Analyst Ratings Changes

Separately, Roth Mkm lowered their target price on Eos Energy Enterprises from $4.50 to $4.00 and set a “buy” rating for the company in a report on Thursday, November 7th. Two analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $3.90.

Eos Energy Enterprises Stock Up 6.9 %

The company’s 50 day simple moving average is $3.02 and its two-hundred day simple moving average is $2.32. The company has a market capitalization of $941.38 million, a price-to-earnings ratio of -1.79 and a beta of 2.31.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Tidal Investments LLC acquired a new stake in Eos Energy Enterprises in the third quarter worth about $993,000. Virtu Financial LLC acquired a new stake in Eos Energy Enterprises in the 3rd quarter worth approximately $206,000. Geode Capital Management LLC grew its position in 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. State Street Corp increased its stake in Eos Energy Enterprises by 9.5% during the 3rd 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, Walleye Capital LLC purchased a new position in shares of Eos Energy Enterprises in the third quarter worth $48,000. 54.87% of the stock is currently owned by hedge funds and other institutional investors.

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.