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

Eos Energy Enterprises, Inc. (NASDAQ:EOSE) hit a new 52-week high during trading on Monday . The stock traded as high as $3.74 and last traded at $3.67, with a volume of 4064584 shares. The stock had previously closed at $3.40.

Analysts Set New Price Targets

A number of equities analysts have commented on the stock. Stifel Nicolaus reaffirmed a “buy” rating and set a $6.00 price objective on shares of Eos Energy Enterprises in a research report on Wednesday, August 21st. Roth Mkm reduced their price objective on Eos Energy Enterprises from $4.50 to $4.00 and set a “buy” rating on the stock in a research note on Thursday, November 7th. Two investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $3.90.

Eos Energy Enterprises Trading Down 3.2 %

The stock’s 50-day moving average price is $2.97 and its 200-day moving average price is $2.29. The stock has a market cap of $852.04 million, a price-to-earnings ratio of -1.62 and a beta of 2.31.

Institutional Trading of Eos Energy Enterprises

A number of institutional investors have recently bought and sold shares of the company. Hollencrest Capital Management lifted its stake in shares of 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 purchasing an additional 7,500 shares during the period. WESPAC Advisors LLC bought a new position in shares of Eos Energy Enterprises during the 3rd quarter worth approximately $32,000. Focused Wealth Management Inc bought a new stake in Eos Energy Enterprises in the third quarter valued at $46,000. Walleye Capital LLC bought a new position in shares of Eos Energy Enterprises during the 3rd quarter worth about $48,000. Finally, Cullen Frost Bankers Inc. raised its stake in Eos Energy Enterprises by 40.0% during the 2nd quarter. Cullen Frost Bankers Inc. now owns 70,000 shares of the company’s stock worth $89,000 after buying an additional 20,000 shares during the period. Institutional investors 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.