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

Eos Energy Enterprises, Inc. (NASDAQ:EOSEW)’s stock price dropped 35.2% during mid-day trading on Tuesday . The company traded as low as $1.20 and last traded at $1.4650. Approximately 225,128 shares traded hands during 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 Price Performance

The firm’s 50-day simple moving average is $3.20 and its 200 day simple moving average is $1.42.

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

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in EOSEW. Susquehanna International Group LLP acquired a new stake in shares of Eos Energy Enterprises during the 3rd quarter valued at $96,000. Wolverine Asset Management LLC raised its position 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 during the period. Zazove Associates LLC acquired a new stake in shares of Eos Energy Enterprises during the third quarter worth $30,000. Finally, LMR Partners LLP purchased a new stake in shares of Eos Energy Enterprises during the second quarter valued at $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.