Eos Energy Enterprises (NASDAQ:EOSE) Trading 4.3% Higher – Should You Buy?

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

Analyst Upgrades and Downgrades

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

Eos Energy Enterprises Stock Down 4.1 %

The firm has a market capitalization of $965.31 million, a P/E ratio of -1.77 and a beta of 2.15. The business’s 50 day moving average is $4.95 and its 200-day moving average is $3.83.

Hedge Funds Weigh In On Eos Energy Enterprises

Several hedge funds and other institutional investors have recently modified their holdings of EOSE. Parkside Financial Bank & Trust bought a new stake in shares of Eos Energy Enterprises during the 4th quarter worth $29,000. R Squared Ltd acquired a new position in Eos Energy Enterprises during the fourth quarter worth about $31,000. WESPAC Advisors LLC bought a new position in shares of Eos Energy Enterprises in the third quarter worth about $32,000. Walleye Capital LLC acquired a new stake in shares of Eos Energy Enterprises in the 3rd quarter valued at approximately $48,000. Finally, Carmel Capital Partners LLC bought a new stake in shares of Eos Energy Enterprises during the 4th quarter valued at approximately $49,000. 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.