Eos Energy Enterprises (NASDAQ:EOSE) Reaches New 12-Month High – Time to Buy?

Eos Energy Enterprises, Inc. (NASDAQ:EOSE) shares reached a new 52-week high during trading on Friday . The company traded as high as $6.64 and last traded at $6.47, with a volume of 2152510 shares traded. The stock had previously closed at $6.19.

Wall Street Analysts Forecast Growth

Separately, Roth Mkm cut their price target on 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 equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat, Eos Energy Enterprises has a consensus rating of “Moderate Buy” and a consensus target price of $3.90.

Eos Energy Enterprises Stock Down 1.8 %

The stock has a market cap of $1.32 billion, a price-to-earnings ratio of -2.52 and a beta of 2.09. The stock’s fifty day moving average is $4.22 and its 200-day moving average is $3.08.

Institutional Trading of Eos Energy Enterprises

Hedge funds have recently added to or reduced their stakes in the business. R Squared Ltd acquired a new position in Eos Energy Enterprises in the 4th quarter worth $31,000. Hollencrest Capital Management boosted its position in shares of Eos Energy Enterprises by 1,000.0% during the third quarter. Hollencrest Capital Management now owns 8,250 shares of the company’s stock worth $25,000 after buying an additional 7,500 shares during the period. Lake Street Private Wealth LLC acquired a new position in shares of Eos Energy Enterprises during the fourth quarter worth about $51,000. WESPAC Advisors LLC bought a new position in shares of Eos Energy Enterprises during the third quarter worth about $32,000. Finally, Harel Insurance Investments & Financial Services Ltd. acquired a new stake in Eos Energy Enterprises in the 4th quarter valued at approximately $58,000. Institutional investors and hedge funds 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.