Eos Energy Enterprises (NASDAQ:EOSE) Trading Down 4.5% - Time to Sell?

Eos Energy Enterprises, Inc. (NASDAQ:EOSE - Get Free Report)'s stock price traded down 4.5% on Wednesday . The stock traded as low as $5.65 and last traded at $5.68. 3,040,180 shares traded hands during trading, a decline of 65% from the average session volume of 8,582,544 shares. The stock had previously closed at $5.94.

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 on the stock 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 company. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $3.90.

Eos Energy Enterprises Price Performance

The business has a 50 day moving average of $4.92 and a 200 day moving average of $3.40. The firm has a market capitalization of $1.07 billion, a price-to-earnings ratio of -2.04 and a beta of 2.10.

Hedge Funds Weigh In On Eos Energy Enterprises

Several institutional investors have recently modified their holdings of the stock. Hollencrest Capital Management raised its position 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 acquiring an additional 7,500 shares during the period. Parkside Financial Bank & Trust acquired a new stake in Eos Energy Enterprises in the fourth quarter worth $29,000. R Squared Ltd bought a new position in shares of Eos Energy Enterprises during the fourth quarter worth $31,000. WESPAC Advisors LLC acquired a new position in shares of Eos Energy Enterprises in the 3rd quarter valued at $32,000. Finally, Focused Wealth Management Inc acquired a new position in shares of Eos Energy Enterprises in the 3rd quarter valued at $46,000. 54.87% of the stock is currently 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.