Eos Energy Enterprises (NASDAQ:EOSE) Shares Gap Up – What’s Next?

Shares of Eos Energy Enterprises, Inc. (NASDAQ:EOSE) gapped up prior to trading on Tuesday . The stock had previously closed at $2.89, but opened at $3.30. Eos Energy Enterprises shares last traded at $3.18, with a volume of 6,262,097 shares.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the stock. Stifel Nicolaus reiterated a “buy” rating and issued a $6.00 price objective on shares of Eos Energy Enterprises in a research note on Wednesday, August 21st. Roth Mkm decreased their price target 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 equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, Eos Energy Enterprises currently has an average rating of “Moderate Buy” and an average target price of $3.90.

Eos Energy Enterprises Trading Up 3.1 %

The stock has a market capitalization of $649.37 million, a PE ratio of -1.32 and a beta of 2.32. The stock’s fifty day simple moving average is $2.87 and its 200-day simple moving average is $2.08.

Insiders Place Their Bets

In other news, Director Jeffrey S. Bornstein sold 30,000 shares of the stock in a transaction that occurred on Thursday, September 12th. The shares were sold at an average price of $2.62, for a total transaction of $78,600.00. Following the completion of the transaction, the director now directly owns 84,929 shares of the company’s stock, valued at $222,513.98. This represents a 26.10 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 3.80% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in EOSE. Tidal Investments LLC bought a new stake in shares of Eos Energy Enterprises in the third quarter valued at approximately $993,000. Virtu Financial LLC purchased a new stake in shares of Eos Energy Enterprises during the third quarter worth $206,000. Geode Capital Management LLC increased its position in shares of Eos Energy Enterprises by 18.0% during the third quarter. Geode Capital Management LLC now owns 2,468,648 shares of the company’s stock valued at $7,335,000 after buying an additional 376,494 shares during the period. State Street Corp boosted its stake in Eos Energy Enterprises by 9.5% during the third quarter. State Street Corp now owns 875,439 shares of the company’s stock valued at $2,600,000 after buying an additional 75,657 shares during the period. Finally, Walleye Capital LLC bought a new position in Eos Energy Enterprises in the 3rd quarter worth about $48,000. 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.