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

Eos Energy Enterprises, Inc. (NASDAQ:EOSE)’s share price hit a new 52-week high during trading on Thursday . The stock traded as high as $6.33 and last traded at $6.11, with a volume of 12494241 shares changing hands. The stock had previously closed at $5.20.

Analyst Upgrades and Downgrades

Separately, Roth Mkm reduced their target price on shares of Eos Energy Enterprises from $4.50 to $4.00 and set a “buy” rating on the stock 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. 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 of $3.72 and a 200 day moving average of $2.87. The company has a market cap of $1.34 billion, a PE ratio of -2.56 and a beta of 2.09.

Institutional Trading of Eos Energy Enterprises

Several large investors have recently added to or reduced their stakes in the business. Millennium Management LLC grew its position in shares of Eos Energy Enterprises by 5,744.5% during the 2nd quarter. Millennium Management LLC now owns 3,164,017 shares of the company’s stock valued at $4,018,000 after acquiring an additional 3,109,880 shares during the period. Brightline Capital Management LLC purchased a new position in Eos Energy Enterprises during the third quarter valued at $4,871,000. NewEdge Advisors LLC grew its holdings in Eos Energy Enterprises by 30.2% during the second quarter. NewEdge Advisors LLC now owns 2,588,823 shares of the company’s stock valued at $3,288,000 after purchasing an additional 600,143 shares during the period. Geode Capital Management LLC increased its position in Eos Energy Enterprises by 18.0% in the third quarter. Geode Capital Management LLC now owns 2,468,648 shares of the company’s stock worth $7,335,000 after buying an additional 376,494 shares in the last quarter. Finally, Tidal Investments LLC bought a new position in shares of Eos Energy Enterprises in the third quarter worth about $993,000. 54.87% of the stock is currently 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.