Eos Energy Enterprises (NASDAQ:EOSE) Stock Price Down 4.5% – What’s Next?

Eos Energy Enterprises, Inc. (NASDAQ:EOSE) shares traded down 4.5% during trading on Wednesday . The stock traded as low as $5.65 and last traded at $5.68. 3,040,180 shares traded hands during mid-day trading, a decline of 65% from the average session volume of 8,582,544 shares. The stock had previously closed at $5.94.

Analyst Ratings Changes

Separately, Roth Mkm cut their price objective 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 equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $3.90.

Eos Energy Enterprises Price Performance

The business has a 50-day simple moving average of $4.67 and a 200 day simple moving average of $3.27. The firm has a market cap of $1.16 billion, a PE ratio of -2.22 and a beta of 2.10.

Institutional Trading of Eos Energy Enterprises

Institutional investors have recently made changes to their positions in the business. Hollencrest Capital Management grew its position in shares of 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. Parkside Financial Bank & Trust purchased a new stake in shares of Eos Energy Enterprises during the fourth quarter worth about $29,000. R Squared Ltd purchased a new stake in shares of Eos Energy Enterprises during the fourth quarter worth about $31,000. WESPAC Advisors LLC bought a new stake in shares of Eos Energy Enterprises in the third quarter worth about $32,000. Finally, Focused Wealth Management Inc purchased a new stake in shares of Eos Energy Enterprises in the third quarter worth about $46,000. Hedge funds and other 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.