Eos Energy Enterprises, Inc. (NASDAQ:EOSE) Receives $4.83 Consensus PT from Analysts

Shares of Eos Energy Enterprises, Inc. (NASDAQ:EOSE) have received a consensus recommendation of “Moderate Buy” from the eight brokerages that are currently covering the stock, MarketBeat.com reports. Two research analysts have rated the stock with a hold recommendation and six have given a buy recommendation to the company. The average twelve-month target price among analysts that have issued ratings on the stock in the last year is $4.83.

A number of brokerages have issued reports on EOSE. Evercore ISI cut their price target on shares of Eos Energy Enterprises from $7.00 to $3.00 and set an “outperform” rating on the stock in a research note on Thursday, May 16th. Roth Mkm restated a “buy” rating and set a $4.50 price objective on shares of Eos Energy Enterprises in a research report on Friday, June 28th. Guggenheim cut their price objective on shares of Eos Energy Enterprises from $10.00 to $4.00 and set a “buy” rating for the company in a research report on Thursday, March 7th. B. Riley upgraded shares of Eos Energy Enterprises to a “hold” rating in a research report on Tuesday, June 25th. Finally, Stifel Nicolaus reissued a “buy” rating and issued a $13.00 price target on shares of Eos Energy Enterprises in a research note on Wednesday, May 15th.

Eos Energy Enterprises Stock Performance

Shares of EOSE opened at $1.77 on Monday. The company has a 50 day moving average price of $0.85 and a 200-day moving average price of $0.95. Eos Energy Enterprises has a fifty-two week low of $0.61 and a fifty-two week high of $5.05. The stock has a market capitalization of $368.39 million, a PE ratio of -1.13 and a beta of 2.37.

Eos Energy Enterprises (NASDAQ:EOSE) last announced its quarterly earnings results on Tuesday, May 14th. The company reported ($0.23) earnings per share for the quarter, topping the consensus estimate of ($0.24) by $0.01. The business had revenue of $6.60 million during the quarter, compared to analysts’ expectations of $6.57 million. Equities research analysts forecast that Eos Energy Enterprises will post -0.7 EPS for the current year.

Institutional Trading of Eos Energy Enterprises

Several institutional investors and hedge funds have recently bought and sold shares of EOSE. Electron Capital Partners LLC raised its position in Eos Energy Enterprises by 226.6% in the 4th quarter. Electron Capital Partners LLC now owns 6,958,125 shares of the company’s stock valued at $7,584,000 after purchasing an additional 4,827,586 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. raised its position in Eos Energy Enterprises by 24.7% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,258,058 shares of the company’s stock worth $4,641,000 after buying an additional 843,918 shares during the last quarter. Stifel Financial Corp raised its position in Eos Energy Enterprises by 503.7% during the 3rd quarter. Stifel Financial Corp now owns 930,205 shares of the company’s stock worth $2,000,000 after buying an additional 776,110 shares during the last quarter. Invesco Ltd. raised its position in Eos Energy Enterprises by 23.6% during the 3rd quarter. Invesco Ltd. now owns 3,128,582 shares of the company’s stock worth $6,726,000 after buying an additional 597,279 shares during the last quarter. Finally, Vanguard Group Inc. raised its position in Eos Energy Enterprises by 6.6% during the 1st quarter. Vanguard Group Inc. now owns 9,375,916 shares of the company’s stock worth $9,657,000 after buying an additional 580,022 shares during the last quarter. Hedge funds and other institutional investors own 54.87% of the company’s stock.

About Eos Energy Enterprises

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.