Eos Energy Enterprises (NASDAQ:EOSE) Shares Down 4.1% – What’s Next?

Eos Energy Enterprises, Inc. (NASDAQ:EOSE)’s stock price was down 4.1% during trading on Monday . The company traded as low as $2.59 and last traded at $2.59. Approximately 1,011,765 shares changed hands during trading, a decline of 85% from the average daily volume of 6,781,706 shares. The stock had previously closed at $2.70.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on EOSE. Roth Mkm reduced their price objective on Eos Energy Enterprises from $4.50 to $4.00 and set a “buy” rating for the company in a research note on Thursday, November 7th. Stifel Nicolaus reiterated a “buy” rating and issued a $6.00 price target on shares of Eos Energy Enterprises in a research report on Wednesday, August 21st. Two investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $3.90.

Eos Energy Enterprises Stock Up 3.3 %

The stock has a fifty day moving average price of $2.85 and a 200-day moving average price of $2.00.

Insiders Place Their Bets

In other Eos Energy Enterprises news, Director Jeffrey S. Bornstein sold 30,000 shares of the company’s stock in a transaction that occurred on Thursday, September 12th. The shares were sold at an average price of $2.62, for a total value of $78,600.00. Following the transaction, the director now owns 84,929 shares in the company, valued at approximately $222,513.98. This represents a 26.10 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 3.80% of the company’s stock.

Hedge Funds Weigh In On Eos Energy Enterprises

Several institutional investors and hedge funds have recently modified their holdings of EOSE. Hollencrest Capital Management raised its holdings 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 acquiring an additional 7,500 shares in the last quarter. WESPAC Advisors LLC purchased a new stake in shares of Eos Energy Enterprises during the 3rd quarter worth about $32,000. Focused Wealth Management Inc acquired a new stake in shares of Eos Energy Enterprises during the 3rd quarter valued at about $46,000. Walleye Capital LLC acquired a new stake in shares of Eos Energy Enterprises during the 3rd quarter valued at about $48,000. Finally, Venture Visionary Partners LLC bought a new stake in shares of Eos Energy Enterprises in the 3rd quarter valued at approximately $59,000. 54.87% of the stock is currently owned by hedge funds and other 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.