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

Eos Energy Enterprises, Inc. (NASDAQ:EOSE) shares gapped up before the market opened on Tuesday . The stock had previously closed at $4.22, but opened at $4.43. Eos Energy Enterprises shares last traded at $4.71, with a volume of 1,516,548 shares traded.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on EOSE shares. Guggenheim reiterated a “buy” rating and issued a $7.00 price target on shares of Eos Energy Enterprises in a research note on Tuesday, March 18th. 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. Cowen restated a “hold” rating on shares of Eos Energy Enterprises in a research report on Friday, March 7th. Finally, Roth Capital downgraded Eos Energy Enterprises from a “strong-buy” rating to a “hold” rating in a research note on Thursday, February 20th. Five investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat.com, Eos Energy Enterprises currently has an average rating of “Hold” and an average target price of $4.70.

Eos Energy Enterprises Trading Down 3.2 %

The company has a market cap of $1.11 billion, a P/E ratio of -2.03 and a beta of 2.17. The company has a 50 day moving average price of $4.28 and a 200-day moving average price of $4.05.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Parkside Financial Bank & Trust acquired a new stake in shares of Eos Energy Enterprises in the 4th quarter valued at approximately $29,000. R Squared Ltd bought a new position in Eos Energy Enterprises in the 4th quarter valued at approximately $31,000. Carmel Capital Partners LLC acquired a new stake in Eos Energy Enterprises in the fourth quarter valued at approximately $49,000. Lake Street Private Wealth LLC acquired a new stake in Eos Energy Enterprises in the fourth quarter valued at approximately $51,000. Finally, Parallel Advisors LLC bought a new stake in shares of Eos Energy Enterprises during the first quarter worth $43,000. Institutional investors own 54.87% of the company’s stock.

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.