Eos Energy Enterprises (NASDAQ:EOSE) Shares Down 4.5% – What’s Next?

Eos Energy Enterprises, Inc. (NASDAQ:EOSE)’s share price traded down 4.5% during trading on Wednesday . The stock traded as low as $5.65 and last traded at $5.68. 3,040,180 shares changed hands during mid-day trading, a decline of 65% from the average session volume of 8,582,544 shares. The stock had previously closed at $5.94.

Wall Street Analysts Forecast Growth

Separately, Roth Mkm cut their price objective on 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 stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $3.90.

Eos Energy Enterprises Trading Down 2.4 %

The company has a market capitalization of $1.16 billion, a PE ratio of -2.21 and a beta of 2.10. The business has a fifty day moving average of $4.78 and a 200 day moving average of $3.30.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of EOSE. Daiwa Securities Group Inc. purchased a new stake in shares of Eos Energy Enterprises in the 4th quarter valued at approximately $101,000. Barings LLC lifted its position in shares of Eos Energy Enterprises by 100.5% during the 4th quarter. Barings LLC now owns 2,403,448 shares of the company’s stock worth $11,681,000 after buying an additional 1,204,430 shares during the last quarter. Amundi acquired a new position in shares of Eos Energy Enterprises in the 4th quarter valued at $253,000. Carmel Capital Partners LLC purchased a new position in shares of Eos Energy Enterprises in the 4th quarter valued at $49,000. Finally, Raymond James Financial Inc. acquired a new position in Eos Energy Enterprises in the fourth quarter valued at $315,000. 54.87% of the stock is currently owned by hedge funds and other institutional investors.

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.