Eos Energy Enterprises (NASDAQ:EOSE) Reaches New 1-Year High – Here’s What Happened

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

Analyst Ratings Changes

Separately, Roth Mkm lowered their target price 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 research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $3.90.

Eos Energy Enterprises Price Performance

The company has a fifty day moving average price of $3.11 and a two-hundred day moving average price of $2.42. The firm has a market cap of $993.68 million, a price-to-earnings ratio of -1.89 and a beta of 2.32.

Hedge Funds Weigh In On Eos Energy Enterprises

Large investors have recently made changes to their positions in the business. Tidal Investments LLC bought a new stake in shares of Eos Energy Enterprises in the 3rd quarter worth approximately $993,000. Virtu Financial LLC acquired a new position in Eos Energy Enterprises in the third quarter worth approximately $206,000. Geode Capital Management LLC increased its holdings in shares of Eos Energy Enterprises by 18.0% in the third quarter. Geode Capital Management LLC now owns 2,468,648 shares of the company’s stock valued at $7,335,000 after buying an additional 376,494 shares in the last quarter. State Street Corp lifted its position in shares of Eos Energy Enterprises by 9.5% during the 3rd quarter. State Street Corp now owns 875,439 shares of the company’s stock valued at $2,600,000 after acquiring an additional 75,657 shares during the last quarter. Finally, Walleye Capital LLC bought a new stake in shares of Eos Energy Enterprises during the 3rd quarter worth $48,000. Institutional investors 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.