Eos Energy Enterprises (NASDAQ:EOSE) Shares Gap Up – Still a Buy?

Shares of Eos Energy Enterprises, Inc. (NASDAQ:EOSE) gapped up prior to trading on Friday . The stock had previously closed at $5.17, but opened at $5.30. Eos Energy Enterprises shares last traded at $5.32, with a volume of 1,977,645 shares changing hands.

Analyst Upgrades and Downgrades

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

Eos Energy Enterprises Stock Performance

The firm has a market cap of $1.16 billion, a PE ratio of -2.21 and a beta of 2.32. The firm’s 50 day moving average price is $3.17 and its two-hundred day moving average price is $2.46.

Hedge Funds Weigh In On Eos Energy Enterprises

Several large investors have recently modified their holdings of the business. Hollencrest Capital Management raised its holdings in 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 buying an additional 7,500 shares during the period. WESPAC Advisors LLC purchased a new stake in shares of Eos Energy Enterprises in the 3rd quarter valued at approximately $32,000. Focused Wealth Management Inc purchased a new stake in shares of Eos Energy Enterprises in the 3rd quarter valued at approximately $46,000. Walleye Capital LLC acquired a new position in shares of Eos Energy Enterprises in the 3rd quarter worth approximately $48,000. Finally, Venture Visionary Partners LLC purchased a new position in shares of Eos Energy Enterprises during the 3rd quarter worth approximately $59,000. Institutional investors and hedge funds 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.