Eos Energy Enterprises (NASDAQ:EOSE) Stock Price Up 3.1%

Eos Energy Enterprises, Inc. (NASDAQ:EOSE)’s share price shot up 3.1% during trading on Thursday . The company traded as high as $2.48 and last traded at $2.47. 4,223,103 shares changed hands during trading, a decline of 36% from the average session volume of 6,648,964 shares. The stock had previously closed at $2.39.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on EOSE. Roth Mkm reissued a “buy” rating and set a $4.50 target price on shares of Eos Energy Enterprises in a report on Friday, June 28th. B. Riley raised Eos Energy Enterprises to a “hold” rating in a report on Tuesday, June 25th. Evercore ISI cut their price target on Eos Energy Enterprises from $7.00 to $3.00 and set an “outperform” rating for the company in a report on Thursday, May 16th. Stifel Nicolaus reaffirmed a “buy” rating and issued a $6.00 price target on shares of Eos Energy Enterprises in a report on Wednesday. Finally, TD Cowen cut their price target on Eos Energy Enterprises from $3.00 to $2.50 and set a “hold” rating for the company in a report on Thursday, May 16th. Two analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat, Eos Energy Enterprises has a consensus rating of “Moderate Buy” and a consensus price target of $3.67.

Eos Energy Enterprises Stock Down 2.5 %

The company has a market capitalization of $491.18 million, a PE ratio of -1.51 and a beta of 2.37. The firm has a 50-day moving average of $1.67 and a two-hundred day moving average of $1.16.

Insider Buying and Selling

In other Eos Energy Enterprises news, CEO Joe Mastrangelo acquired 52,800 shares of the stock in a transaction that occurred on Friday, August 9th. The stock was bought at an average cost of $1.43 per share, for a total transaction of $75,504.00. Following the completion of the transaction, the chief executive officer now owns 909,793 shares of the company’s stock, valued at approximately $1,301,003.99. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 4.06% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. Price T Rowe Associates Inc. MD raised its holdings in shares of Eos Energy Enterprises by 74.4% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 43,930 shares of the company’s stock valued at $46,000 after buying an additional 18,735 shares during the period. Cullen Frost Bankers Inc. lifted its position in shares of Eos Energy Enterprises by 40.0% during the second quarter. Cullen Frost Bankers Inc. now owns 70,000 shares of the company’s stock worth $89,000 after purchasing an additional 20,000 shares in the last quarter. American International Group Inc. boosted its stake in shares of Eos Energy Enterprises by 41.2% in the first quarter. American International Group Inc. now owns 75,555 shares of the company’s stock valued at $78,000 after purchasing an additional 22,056 shares during the period. Powell Investment Advisors LLC grew its holdings in shares of Eos Energy Enterprises by 52.2% in the first quarter. Powell Investment Advisors LLC now owns 70,000 shares of the company’s stock valued at $72,000 after purchasing an additional 24,000 shares in the last quarter. Finally, Ground Swell Capital LLC acquired a new position in shares of Eos Energy Enterprises in the second quarter valued at approximately $34,000. 54.87% of the stock is currently owned by hedge funds and other institutional investors.

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.