Bank of New York Mellon Corp Purchases 29,393 Shares of Eos Energy Enterprises, Inc. (NASDAQ:EOSE)

Bank of New York Mellon Corp increased its position in Eos Energy Enterprises, Inc. (NASDAQ:EOSE) by 154.9% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 48,374 shares of the company’s stock after purchasing an additional 29,393 shares during the quarter. Bank of New York Mellon Corp’s holdings in Eos Energy Enterprises were worth $235,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently made changes to their positions in EOSE. R Squared Ltd bought a new position in Eos Energy Enterprises in the fourth quarter worth $31,000. Walleye Capital LLC purchased a new stake in shares of Eos Energy Enterprises in the 3rd quarter worth about $48,000. Lake Street Private Wealth LLC bought a new position in shares of Eos Energy Enterprises in the 4th quarter worth about $51,000. Harel Insurance Investments & Financial Services Ltd. purchased a new position in Eos Energy Enterprises during the 4th quarter valued at about $58,000. Finally, WESPAC Advisors LLC boosted its stake in Eos Energy Enterprises by 16.6% during the fourth quarter. WESPAC Advisors LLC now owns 12,647 shares of the company’s stock worth $61,000 after acquiring an additional 1,798 shares in the last quarter. 54.87% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

EOSE has been the subject of a number of analyst reports. Roth Mkm downgraded shares of Eos Energy Enterprises from a “buy” rating to a “neutral” rating and raised their target price for the company from $4.00 to $5.00 in a research note on Thursday, February 20th. Cowen reaffirmed a “hold” rating on shares of Eos Energy Enterprises in a research report on Friday, March 7th. Roth Capital downgraded Eos Energy Enterprises from a “strong-buy” rating to a “hold” rating in a report on Thursday, February 20th. Finally, Guggenheim restated a “buy” rating and set a $7.00 price target on shares of Eos Energy Enterprises in a report on Tuesday, March 18th. Five investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $4.70.

Eos Energy Enterprises Trading Down 2.5 %

Eos Energy Enterprises stock opened at $3.94 on Friday. Eos Energy Enterprises, Inc. has a 12 month low of $0.61 and a 12 month high of $6.64. The stock has a fifty day simple moving average of $4.81 and a two-hundred day simple moving average of $3.92. The firm has a market cap of $892.80 million, a price-to-earnings ratio of -1.63 and a beta of 2.15.

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.