Eos Energy Enterprises (NASDAQ:EOSE) Reaches New 52-Week High – Here’s What Happened

Eos Energy Enterprises, Inc. (NASDAQ:EOSE)’s stock price reached a new 52-week high during trading on Wednesday . The stock traded as high as $7.06 and last traded at $6.80, with a volume of 15192341 shares traded. The stock had previously closed at $6.33.

Wall Street Analyst Weigh In

EOSE has been the subject of several analyst reports. Roth Capital lowered shares of Eos Energy Enterprises from a “strong-buy” rating to a “hold” rating in a report on Thursday, February 20th. Guggenheim restated a “buy” rating and set a $7.00 price target on shares of Eos Energy Enterprises in a report on Tuesday, March 18th. Roth Mkm lowered shares of Eos Energy Enterprises from a “buy” rating to a “neutral” rating and lifted their price objective for the company from $4.00 to $5.00 in a research note on Thursday, February 20th. Finally, Cowen reiterated a “hold” rating on shares of Eos Energy Enterprises in a research note on Friday, March 7th. Five analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $4.70.

Eos Energy Enterprises Stock Up 7.4%

The company’s 50-day moving average is $4.57 and its two-hundred day moving average is $4.35. The company has a market capitalization of $1.54 billion, a P/E ratio of -2.82 and a beta of 2.11.

Eos Energy Enterprises (NASDAQ:EOSE) last issued its earnings results on Tuesday, May 6th. The company reported ($0.20) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.19) by ($0.01). The business had revenue of $10.46 million during the quarter, compared to analyst estimates of $11.77 million. On average, sell-side analysts predict that Eos Energy Enterprises, Inc. will post -2.54 EPS for the current year.

Institutional Investors Weigh In On Eos Energy Enterprises

Several large investors have recently bought and sold shares of the business. Vanguard Group Inc. boosted its position in Eos Energy Enterprises by 0.6% in the first quarter. Vanguard Group Inc. now owns 10,362,810 shares of the company’s stock worth $39,171,000 after purchasing an additional 59,762 shares during the last quarter. Stifel Financial Corp boosted its position in Eos Energy Enterprises by 6.4% in the fourth quarter. Stifel Financial Corp now owns 4,978,078 shares of the company’s stock worth $24,193,000 after purchasing an additional 297,909 shares during the last quarter. Legal & General Group Plc boosted its position in Eos Energy Enterprises by 61,220.5% in the fourth quarter. Legal & General Group Plc now owns 4,804,461 shares of the company’s stock worth $23,350,000 after purchasing an additional 4,796,626 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new position in Eos Energy Enterprises in the fourth quarter worth about $16,632,000. Finally, Geode Capital Management LLC boosted its position in Eos Energy Enterprises by 1.7% in the fourth quarter. Geode Capital Management LLC now owns 2,510,088 shares of the company’s stock worth $12,205,000 after purchasing an additional 41,440 shares during the last quarter. 54.87% of the stock is currently owned by institutional investors.

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.