Eos Energy Enterprises, Inc. (NASDAQ:EOSE) Receives $3.90 Average Price Target from Brokerages

Eos Energy Enterprises, Inc. (NASDAQ:EOSE) has earned a consensus rating of “Moderate Buy” from the seven ratings firms that are currently covering the firm, Marketbeat reports. Two equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The average 12-month target price among brokerages that have issued a report on the stock in the last year is $3.90.

EOSE has been the topic of a number of recent research reports. Stifel Nicolaus restated a “buy” rating and set a $6.00 price target on shares of Eos Energy Enterprises in a research note on Wednesday, August 21st. Roth Mkm dropped their target price on Eos Energy Enterprises from $4.50 to $4.00 and set a “buy” rating on the stock in a research report on Thursday, November 7th.

Eos Energy Enterprises Price Performance

NASDAQ:EOSE opened at $2.95 on Thursday. The company has a market capitalization of $642.83 million, a P/E ratio of -1.22 and a beta of 2.38. The business has a fifty day simple moving average of $2.87 and a two-hundred day simple moving average of $2.07. Eos Energy Enterprises has a 1 year low of $0.61 and a 1 year high of $3.66.

Insider Buying and Selling

In other Eos Energy Enterprises news, Director Jeffrey S. Bornstein sold 30,000 shares of Eos Energy Enterprises stock in a transaction that occurred on Thursday, September 12th. The shares were sold at an average price of $2.62, for a total transaction of $78,600.00. Following the completion of the sale, the director now directly owns 84,929 shares in the company, valued at $222,513.98. The trade was a 26.10 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 3.80% of the stock is owned by company insiders.

Institutional Trading of Eos Energy Enterprises

Institutional investors and hedge funds have recently made changes to their positions in the stock. Vanguard Group Inc. increased its stake in Eos Energy Enterprises by 6.6% in the first quarter. Vanguard Group Inc. now owns 9,375,916 shares of the company’s stock valued at $9,657,000 after acquiring an additional 580,022 shares during the last quarter. Millennium Management LLC boosted its stake in Eos Energy Enterprises by 5,744.5% in the second quarter. Millennium Management LLC now owns 3,164,017 shares of the company’s stock worth $4,018,000 after buying an additional 3,109,880 shares in the last quarter. NewEdge Advisors LLC grew its position in Eos Energy Enterprises by 30.2% during the second quarter. NewEdge Advisors LLC now owns 2,588,823 shares of the company’s stock valued at $3,288,000 after acquiring an additional 600,143 shares during the last quarter. Geode Capital Management LLC raised its stake in shares of Eos Energy Enterprises by 18.0% during the third quarter. Geode Capital Management LLC now owns 2,468,648 shares of the company’s stock worth $7,335,000 after acquiring an additional 376,494 shares in the last quarter. Finally, Brightline Capital Management LLC purchased a new position in shares of Eos Energy Enterprises during the third quarter worth approximately $4,871,000. Hedge funds and other institutional investors own 54.87% of the company’s stock.

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.