Eos Energy Enterprises (NASDAQ:EOSEW) Trading Down 35.2% – Should You Sell?

Eos Energy Enterprises, Inc. (NASDAQ:EOSEW)’s stock price dropped 35.2% during mid-day trading on Thursday . The company traded as low as $1.20 and last traded at $1.4650. Approximately 225,128 shares were traded during mid-day trading, an increase of 55% from the average daily volume of 145,131 shares. The stock had previously closed at $2.26.

Eos Energy Enterprises Trading Down 35.2%

The company has a fifty day simple moving average of $2.19 and a two-hundred day simple moving average of $1.63.

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

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the company. Hudson Bay Capital Management LP purchased a new stake in shares of Eos Energy Enterprises in the 3rd quarter valued at approximately $281,000. Susquehanna International Group LLP purchased a new stake in shares of Eos Energy Enterprises during the 3rd quarter worth $96,000. Wolverine Asset Management LLC grew its stake in shares of Eos Energy Enterprises by 264.2% during the third quarter. Wolverine Asset Management LLC now owns 31,523 shares of the company’s stock worth $56,000 after purchasing an additional 22,867 shares in the last quarter. Zazove Associates LLC acquired a new position in shares of Eos Energy Enterprises during the third quarter worth $30,000. Finally, LMR Partners LLP purchased a new position in Eos Energy Enterprises in the second quarter valued at $51,000.

About Eos Energy Enterprises

Eos Energy Enterprises is a U.S.-based energy storage technology company developing and manufacturing advanced battery systems for grid-scale and commercial applications. The company focuses on providing reliable, long-duration energy storage solutions that help utilities, independent power producers and commercial customers balance generation and demand while integrating renewable energy sources such as wind and solar.

The company’s core offering is built around its proprietary zinc hybrid cathode (Znyth) battery architecture, which uses safe, non-flammable aqueous electrolytes and earth-abundant materials.