Eos Energy Enterprises (NASDAQ:EOSE) Reaches New 12-Month High – Here’s Why

Eos Energy Enterprises, Inc. (NASDAQ:EOSE) hit a new 52-week high during mid-day trading on Monday . The company traded as high as $3.74 and last traded at $3.67, with a volume of 4064584 shares changing hands. The stock had previously closed at $3.40.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the company. Stifel Nicolaus reiterated a “buy” rating and set a $6.00 price objective on shares of Eos Energy Enterprises in a report on Wednesday, August 21st. Roth Mkm cut their price target on shares of Eos Energy Enterprises from $4.50 to $4.00 and set a “buy” rating on the stock in a research note on Thursday, November 7th. Two investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, Eos Energy Enterprises presently has an average rating of “Moderate Buy” and a consensus price target of $3.90.

Eos Energy Enterprises Stock Down 3.2 %

The firm has a market capitalization of $852.04 million, a P/E ratio of -1.62 and a beta of 2.31. The stock has a fifty day moving average of $2.97 and a 200-day moving average of $2.29.

Institutional Trading of Eos Energy Enterprises

A number of institutional investors have recently made changes to their positions in EOSE. &PARTNERS grew its stake in Eos Energy Enterprises by 27.4% in the second quarter. &PARTNERS now owns 411,900 shares of the company’s stock valued at $523,000 after purchasing an additional 88,650 shares in the last quarter. Cullen Frost Bankers Inc. grew its stake in shares of Eos Energy Enterprises by 40.0% in the second quarter. Cullen Frost Bankers Inc. now owns 70,000 shares of the company’s stock valued at $89,000 after buying an additional 20,000 shares in the last quarter. Ground Swell Capital LLC bought a new position in shares of Eos Energy Enterprises in the second quarter valued at $34,000. Point72 DIFC Ltd acquired a new position in Eos Energy Enterprises during the second quarter worth $83,000. Finally, Cubist Systematic Strategies LLC raised its position in Eos Energy Enterprises by 138,544.3% during the second quarter. Cubist Systematic Strategies LLC now owns 134,485 shares of the company’s stock worth $171,000 after acquiring an additional 134,388 shares in the last quarter. 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.