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

Shares of Eos Energy Enterprises, Inc. (NASDAQ:EOSE) hit a new 52-week high during trading on Thursday . The company traded as high as $5.70 and last traded at $5.61, with a volume of 3518755 shares traded. The stock had previously closed at $4.86.

Wall Street Analysts Forecast Growth

Separately, Roth Mkm dropped their price target on shares of 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. Two research analysts have rated the stock with a hold rating and four have issued 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 target price of $3.90.

Eos Energy Enterprises Trading Up 14.8 %

The firm has a market cap of $1.22 billion, a PE ratio of -2.32 and a beta of 2.31. The firm has a 50 day moving average price of $3.28 and a 200-day moving average price of $2.57.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the stock. Hollencrest Capital Management lifted its holdings in shares of Eos Energy Enterprises by 1,000.0% in the 3rd 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 last quarter. WESPAC Advisors LLC purchased a new stake in Eos Energy Enterprises in the 3rd quarter valued at $32,000. Focused Wealth Management Inc purchased a new stake in Eos Energy Enterprises in the 3rd quarter valued at $46,000. Walleye Capital LLC acquired a new stake in Eos Energy Enterprises during the 3rd quarter worth $48,000. Finally, Venture Visionary Partners LLC acquired a new position in Eos Energy Enterprises in the third quarter valued at $59,000. 54.87% of the stock is 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.