Eos Energy Enterprises (NASDAQ:EOSE) Shares Down 5.4% – What’s Next?

Eos Energy Enterprises, Inc. (NASDAQ:EOSE)’s stock price fell 5.4% during mid-day trading on Tuesday . The stock traded as low as $4.74 and last traded at $4.86. 4,100,242 shares traded hands during mid-day trading, a decline of 42% from the average session volume of 7,011,155 shares. The stock had previously closed at $5.14.

Analyst Ratings Changes

Separately, Roth Mkm reduced their price target on shares of Eos Energy Enterprises from $4.50 to $4.00 and set a “buy” rating for the company in a research report on Thursday, November 7th. Two research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $3.90.

Eos Energy Enterprises Price Performance

The stock has a market capitalization of $1.05 billion, a PE ratio of -2.00 and a beta of 2.31. The company’s 50 day moving average price is $3.20 and its two-hundred day moving average price is $2.51.

Institutional Investors Weigh In On Eos Energy Enterprises

A number of institutional investors and hedge funds have recently made changes to their positions in EOSE. Hollencrest Capital Management lifted its stake 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 worth $25,000 after purchasing an additional 7,500 shares in the last quarter. WESPAC Advisors LLC purchased a new position in Eos Energy Enterprises during the 3rd quarter valued at about $32,000. Ground Swell Capital LLC acquired a new position in Eos Energy Enterprises in the 2nd quarter valued at about $34,000. Scientech Research LLC purchased a new stake in Eos Energy Enterprises during the second quarter worth about $36,000. Finally, Focused Wealth Management Inc acquired a new stake in shares of Eos Energy Enterprises during the third quarter worth about $46,000. 54.87% of the stock is owned by hedge funds and other institutional investors.

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.