Eos Energy Enterprises (NASDAQ:EOSE) Trading Down 5.3% – What’s Next?

Shares of Eos Energy Enterprises, Inc. (NASDAQ:EOSE) fell 5.3% during trading on Friday . The company traded as low as $4.94 and last traded at $4.96. 2,017,565 shares were traded during mid-day trading, a decline of 75% from the average session volume of 8,117,990 shares. The stock had previously closed at $5.23.

Wall Street Analysts Forecast Growth

Separately, Roth Mkm dropped their price target on 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 analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $3.90.

Eos Energy Enterprises Price Performance

The business has a 50-day moving average price of $5.04 and a 200 day moving average price of $3.45.

Institutional Investors Weigh In On Eos Energy Enterprises

Several hedge funds have recently added to or reduced their stakes in the stock. WESPAC Advisors LLC boosted its holdings in Eos Energy Enterprises by 16.6% in the fourth quarter. WESPAC Advisors LLC now owns 12,647 shares of the company’s stock worth $61,000 after acquiring an additional 1,798 shares in the last quarter. Wells Fargo & Company MN boosted its holdings in Eos Energy Enterprises by 3.6% in the fourth quarter. Wells Fargo & Company MN now owns 62,075 shares of the company’s stock worth $302,000 after acquiring an additional 2,175 shares in the last quarter. Montag A & Associates Inc. boosted its holdings in Eos Energy Enterprises by 21.0% in the fourth quarter. Montag A & Associates Inc. now owns 13,809 shares of the company’s stock worth $67,000 after acquiring an additional 2,400 shares in the last quarter. Parkside Financial Bank & Trust bought a new stake in Eos Energy Enterprises in the fourth quarter worth $29,000. Finally, R Squared Ltd bought a new stake in Eos Energy Enterprises in the fourth quarter worth $31,000. 54.87% of the stock is owned by 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.