Eos Energy Enterprises (NASDAQ:EOSE) Sets New 52-Week High – Still a Buy?

Eos Energy Enterprises, Inc. (NASDAQ:EOSE)’s stock price reached a new 52-week high on Monday . The company traded as high as $4.71 and last traded at $4.68, with a volume of 3268497 shares trading hands. The stock had previously closed at $4.57.

Analyst Upgrades and Downgrades

Separately, Roth Mkm cut their price objective on Eos Energy Enterprises from $4.50 to $4.00 and set a “buy” rating on the stock in a report on Thursday, November 7th. Two equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat, Eos Energy Enterprises presently has a consensus rating of “Moderate Buy” and a consensus target price of $3.90.

Eos Energy Enterprises Stock Performance

The firm has a market cap of $993.68 million, a P/E ratio of -1.89 and a beta of 2.32. The company has a 50 day moving average of $3.11 and a 200 day moving average of $2.42.

Hedge Funds Weigh In On Eos Energy Enterprises

Several hedge funds have recently bought and sold shares of EOSE. Hollencrest Capital Management raised its position in shares of Eos Energy Enterprises by 1,000.0% in the third quarter. Hollencrest Capital Management now owns 8,250 shares of the company’s stock valued at $25,000 after purchasing an additional 7,500 shares during the period. WESPAC Advisors LLC acquired a new position in Eos Energy Enterprises during the 3rd quarter worth $32,000. Focused Wealth Management Inc bought a new stake in Eos Energy Enterprises during the third quarter valued at about $46,000. Walleye Capital LLC acquired a new stake in shares of Eos Energy Enterprises in the third quarter valued at about $48,000. Finally, Venture Visionary Partners LLC acquired a new stake in shares of Eos Energy Enterprises in the third quarter valued at about $59,000. 54.87% of the stock is owned by institutional investors and hedge funds.

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.