Eos Energy Enterprises, Inc. (NASDAQ:EOSE) Given Average Recommendation of “Moderate Buy” by Brokerages

Shares of Eos Energy Enterprises, Inc. (NASDAQ:EOSE) have earned an average recommendation of “Moderate Buy” from the six research firms that are presently covering the stock, Marketbeat.com reports. Two research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The average 12 month target price among analysts that have updated their coverage on the stock in the last year is $3.90.

Separately, Roth Mkm reduced their target price on shares of Eos Energy Enterprises from $4.50 to $4.00 and set a “buy” rating on the stock in a report on Thursday, November 7th.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the business. Millennium Management LLC lifted its stake in Eos Energy Enterprises by 5,744.5% during the second quarter. Millennium Management LLC now owns 3,164,017 shares of the company’s stock worth $4,018,000 after purchasing an additional 3,109,880 shares during the last quarter. Brightline Capital Management LLC acquired a new stake in Eos Energy Enterprises during the third quarter worth approximately $4,871,000. NewEdge Advisors LLC lifted its position in shares of Eos Energy Enterprises by 30.2% during the 2nd quarter. NewEdge Advisors LLC now owns 2,588,823 shares of the company’s stock worth $3,288,000 after buying an additional 600,143 shares during the last quarter. Geode Capital Management LLC boosted its holdings in shares of Eos Energy Enterprises by 18.0% in the 3rd quarter. Geode Capital Management LLC now owns 2,468,648 shares of the company’s stock valued at $7,335,000 after buying an additional 376,494 shares in the last quarter. Finally, Tidal Investments LLC purchased a new position in shares of Eos Energy Enterprises in the 3rd quarter valued at $993,000. 54.87% of the stock is owned by institutional investors and hedge funds.

Eos Energy Enterprises Price Performance

Shares of NASDAQ EOSE opened at $6.16 on Friday. The stock’s 50-day moving average is $3.72 and its two-hundred day moving average is $2.87. The company has a market cap of $1.34 billion, a price-to-earnings ratio of -2.56 and a beta of 2.09. Eos Energy Enterprises has a 1-year low of $0.61 and a 1-year high of $6.35.

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.