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Is This The Right Time To Buy Eos Energy Enterprises Inc (NASDAQ: EOSE) Stock?

Eos Energy Enterprises Inc (NASDAQ:EOSE) price closed lower on Monday, February 12, dropping -2.59% below its previous close.

A look at the daily price movement shows that the last close reads $1.16. The company’s 5Y monthly beta was ticking 2.31. Taking into account the 52-week price action we note that the stock hit a 52-week high of $5.66 and 52-week low of $0.73. The stock added 29.80% on its value in the past month.

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Eos Energy Enterprises Inc, which has a market valuation of $217.58 million, is expected to release its quarterly earnings report Feb 26, 2024 – Mar 01, 2024.

Revisions to the company’s EPS highlights a short term direction of a stock’s price movement, which in the last 7 days came up with no upward and no downward reviews. On the technical perspective front, indicators give EOSE a short term outlook of 50% Sell on average. Looking at the stock’s medium term indicators we note that it is averaging as a 50% Sell, while an average of long term indicators are currently assigning the stock as 100% Sell.

The overview shows that EOSE’s price is at present 6.40% off the SMA20 and 2.99% from the SMA50. The Relative Strength Index (RSI) metric on the 14-day timeframe is pointing at 51.44, with weekly volatility standing at 8.09%. The indicator jumps to 10.91% when calculated based on the past 30 days. Eos Energy Enterprises Inc (NASDAQ:EOSE)’s beta value is holding at 2.31, while the average true range (ATR) indicator is currently reading 0.11.

An analysis of the Eos Energy Enterprises Inc (NASDAQ:EOSE) stock in terms of its daily trading volume indicates that the 3-month average is 0.78. However, this figure increases on the past 10-day timeline to an average of 4.86 million.

Current records show that the company has 192.55M in outstanding shares. The insiders’ percentage holdings are 2.72% of outstanding shares while the percentage share held by institutions stands at 44.63%. The stats also highlight that short interest as of Jan 31, 2024, stood at 48.4 million shares, which puts the short ratio at the time at 8.23. From this we can glean that short interest is 24.31% of company’s current outstanding shares. Notably, we see that shares short in January rose slightly given the previous month’s figure stood at 41.86 million. But the 3.67% upside, the stock’s price has registered year-to-date as of last trading, will likely reignite investor interest given the prospect of it rallying even higher.