Eos Energy Enterprises (NASDAQ:EOSE) Reaches New 1-Year High – Still a Buy?

Eos Energy Enterprises, Inc. (NASDAQ:EOSE) reached a new 52-week high on Friday . The stock 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 Upgrades and Downgrades

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

Eos Energy Enterprises Trading Down 1.8 %

The stock has a market cap of $1.32 billion, a P/E ratio of -2.52 and a beta of 2.09. The business’s fifty day simple moving average is $4.22 and its 200 day simple moving average is $3.08.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of EOSE. R Squared Ltd bought a new stake in shares of Eos Energy Enterprises during the fourth quarter worth $31,000. Flagship Private Wealth LLC increased its position in Eos Energy Enterprises by 68.7% in the fourth quarter. Flagship Private Wealth LLC now owns 55,291 shares of the company’s stock worth $269,000 after purchasing an additional 22,525 shares during the period. Harel Insurance Investments & Financial Services Ltd. bought a new stake in Eos Energy Enterprises during the 4th quarter worth about $58,000. Lake Street Private Wealth LLC acquired a new position in Eos Energy Enterprises during the 4th quarter valued at about $51,000. Finally, Tidal Investments LLC bought a new position in shares of Eos Energy Enterprises in the 3rd quarter valued at about $993,000. 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.