Eos Energy Enterprises, Inc. (NASDAQ:EOSE - Get Free Report)'s stock price reached a new 52-week high during mid-day trading on Monday . The stock traded as high as $4.71 and last traded at $4.68, with a volume of 3268497 shares traded. The stock had previously closed at $4.57.
Separately, Roth Mkm reduced their price target on Eos Energy Enterprises from $4.50 to $4.00 and set a "buy" rating for the company in a research report on Thursday, November 7th. Two research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $3.90.
Read Our Latest Report on Eos Energy Enterprises
The company's 50 day simple moving average is $3.05 and its 200-day simple moving average is $2.37. The firm has a market capitalization of $1.02 billion, a PE ratio of -1.94 and a beta of 2.31.
Institutional investors and hedge funds have recently made changes to their positions in the business. Millennium Management LLC increased its stake in Eos Energy Enterprises by 5,744.5% in the 2nd quarter. Millennium Management LLC now owns 3,164,017 shares of the company's stock worth $4,018,000 after acquiring an additional 3,109,880 shares during the last quarter. Brightline Capital Management LLC purchased a new position in shares of Eos Energy Enterprises during the third quarter worth about $4,871,000. NewEdge Advisors LLC increased its position in shares of Eos Energy Enterprises by 30.2% in the second quarter. NewEdge Advisors LLC now owns 2,588,823 shares of the company's stock worth $3,288,000 after purchasing an additional 600,143 shares during the last quarter. Geode Capital Management LLC raised its stake in Eos Energy Enterprises by 18.0% in the third quarter. Geode Capital Management LLC now owns 2,468,648 shares of the company's stock valued at $7,335,000 after purchasing an additional 376,494 shares in the last quarter. Finally, Tidal Investments LLC bought a new stake in Eos Energy Enterprises during the third quarter valued at approximately $993,000. Hedge funds and other institutional investors own 54.87% of the company's stock.
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.
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