Eos Energy Enterprises (NASDAQ:EOSE) Shares Up 6.6% – What’s Next?

Eos Energy Enterprises, Inc. (NASDAQ:EOSE) shares shot up 6.6% on Friday . The company traded as high as $4.34 and last traded at $4.34. 1,969,574 shares were traded during mid-day trading, a decline of 74% from the average session volume of 7,581,296 shares. The stock had previously closed at $4.07.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on EOSE. Roth Capital downgraded Eos Energy Enterprises from a “strong-buy” rating to a “hold” rating in a research report on Thursday, February 20th. Roth Mkm downgraded Eos Energy Enterprises from a “buy” rating to a “neutral” rating and upped their target price for the stock from $4.00 to $5.00 in a research report on Thursday, February 20th. Four research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat, Eos Energy Enterprises presently has a consensus rating of “Hold” and a consensus target price of $4.10.

Eos Energy Enterprises Trading Up 7.4 %

The business has a 50-day moving average price of $5.19 and a 200 day moving average price of $3.65. The company has a market cap of $952.28 million, a price-to-earnings ratio of -1.81 and a beta of 2.10.

Institutional Investors Weigh In On Eos Energy Enterprises

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Stifel Financial Corp lifted its position in shares of Eos Energy Enterprises by 6.4% during the 4th quarter. Stifel Financial Corp now owns 4,978,078 shares of the company’s stock valued at $24,193,000 after acquiring an additional 297,909 shares during the last quarter. Legal & General Group Plc lifted its position in shares of Eos Energy Enterprises by 61,220.5% during the 4th quarter. Legal & General Group Plc now owns 4,804,461 shares of the company’s stock valued at $23,350,000 after acquiring an additional 4,796,626 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new stake in Eos Energy Enterprises during the 4th quarter valued at $16,632,000. Geode Capital Management LLC raised its stake in Eos Energy Enterprises by 1.7% during the 4th quarter. Geode Capital Management LLC now owns 2,510,088 shares of the company’s stock valued at $12,205,000 after purchasing an additional 41,440 shares during the period. Finally, Barings LLC raised its stake in Eos Energy Enterprises by 100.5% during the 4th quarter. Barings LLC now owns 2,403,448 shares of the company’s stock valued at $11,681,000 after purchasing an additional 1,204,430 shares during the period. Institutional investors and hedge funds 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.