Eos Energy Enterprises (NASDAQ:EOSE) Hits New 12-Month High – Still a Buy?

Eos Energy Enterprises, Inc. (NASDAQ:EOSE) shares reached a new 52-week high during mid-day trading on Thursday . The stock traded as high as $5.70 and last traded at $5.61, with a volume of 3518755 shares changing hands. The stock had previously closed at $4.86.

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 analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $3.90.

Eos Energy Enterprises Trading Up 2.5 %

The company has a fifty day moving average price of $3.41 and a two-hundred day moving average price of $2.64. The firm has a market capitalization of $1.24 billion, a price-to-earnings ratio of -2.35 and a beta of 2.31.

Hedge Funds Weigh In On Eos Energy Enterprises

Several institutional investors and hedge funds have recently bought and sold shares of EOSE. Hollencrest Capital Management increased its holdings in shares of Eos Energy Enterprises by 1,000.0% during the 3rd quarter. Hollencrest Capital Management now owns 8,250 shares of the company’s stock worth $25,000 after buying an additional 7,500 shares during the last quarter. WESPAC Advisors LLC acquired a new stake in Eos Energy Enterprises in the 3rd quarter valued at approximately $32,000. Focused Wealth Management Inc purchased a new stake in Eos Energy Enterprises in the third quarter valued at approximately $46,000. Walleye Capital LLC acquired a new position in Eos Energy Enterprises during the third quarter worth $48,000. Finally, Venture Visionary Partners LLC acquired a new position in Eos Energy Enterprises during the third quarter worth $59,000. 54.87% of the stock is currently owned by institutional investors and hedge funds.

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.