Eos Energy Enterprises (NASDAQ:EOSE) Hits New 12-Month High – Here’s Why

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

Analyst Ratings Changes

Separately, Roth Mkm decreased their price objective on Eos Energy Enterprises from $4.50 to $4.00 and set a “buy” rating on the stock in a report 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. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $3.90.

Eos Energy Enterprises Stock Up 5.1 %

The company has a market capitalization of $1.42 billion, a price-to-earnings ratio of -2.72 and a beta of 2.09. The business has a fifty day simple moving average of $4.14 and a two-hundred day simple moving average of $3.05.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the business. Hollencrest Capital Management raised its position 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 worth $25,000 after purchasing an additional 7,500 shares during the last quarter. R Squared Ltd bought a new position in Eos Energy Enterprises in the 4th quarter worth approximately $31,000. WESPAC Advisors LLC bought a new position in Eos Energy Enterprises in the 3rd quarter worth approximately $32,000. Scientech Research LLC bought a new position in Eos Energy Enterprises in the 2nd quarter worth approximately $36,000. Finally, Focused Wealth Management Inc bought a new position in Eos Energy Enterprises in the 3rd quarter worth approximately $46,000. 54.87% of the stock is owned by institutional investors and hedge funds.

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.