Eos Energy Enterprises (NASDAQ:EOSEW) Trading Down 35.2% – Here’s Why

Shares of Eos Energy Enterprises, Inc. (NASDAQ:EOSEW) fell 35.2% during trading on Tuesday . The company traded as low as $1.20 and last traded at $1.4650. 225,128 shares changed hands during trading, an increase of 55% from the average session volume of 145,131 shares. The stock had previously closed at $2.26.

Eos Energy Enterprises Stock Down 35.2%

The firm’s fifty day simple moving average is $3.20 and its 200 day simple moving average is $1.42.

Eos Energy Enterprises (NASDAQ:EOSEW) last released its quarterly earnings results on Tuesday, November 5th. The company reported ($0.44) earnings per share (EPS) for the quarter. The firm had revenue of $0.85 million for the quarter.

Institutional Trading of Eos Energy Enterprises

A number of hedge funds have recently modified their holdings of EOSEW. Zazove Associates LLC acquired a new stake in shares of Eos Energy Enterprises in the third quarter worth $30,000. Wolverine Asset Management LLC lifted its stake in Eos Energy Enterprises by 264.2% in the 3rd quarter. Wolverine Asset Management LLC now owns 31,523 shares of the company’s stock worth $56,000 after acquiring an additional 22,867 shares in the last quarter. Susquehanna International Group LLP acquired a new stake in Eos Energy Enterprises during the 3rd quarter worth about $96,000. Finally, LMR Partners LLP acquired a new stake in Eos Energy Enterprises during the 2nd quarter worth about $51,000.

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.