State Street Corp Increases Stake in Eos Energy Enterprises, Inc. (NASDAQ:EOSE)

State Street Corp raised its holdings in Eos Energy Enterprises, Inc. (NASDAQ:EOSE) by 9.5% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 875,439 shares of the company’s stock after buying an additional 75,657 shares during the period. State Street Corp owned approximately 0.40% of Eos Energy Enterprises worth $2,600,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of the business. Walleye Capital LLC acquired a new stake in shares of Eos Energy Enterprises in the third quarter valued at $48,000. Brightline Capital Management LLC purchased a new stake in Eos Energy Enterprises during the 3rd quarter worth about $4,871,000. Healthcare of Ontario Pension Plan Trust Fund purchased a new stake in Eos Energy Enterprises during the 3rd quarter worth about $741,000. FMR LLC raised its position in Eos Energy Enterprises by 67.8% in the 3rd quarter. FMR LLC now owns 58,651 shares of the company’s stock valued at $174,000 after purchasing an additional 23,706 shares in the last quarter. Finally, WESPAC Advisors LLC purchased a new position in shares of Eos Energy Enterprises in the 3rd quarter valued at about $32,000. Institutional investors and hedge funds own 54.87% of the company’s stock.

Eos Energy Enterprises Stock Performance

EOSE opened at $4.86 on Wednesday. Eos Energy Enterprises, Inc. has a one year low of $0.61 and a one year high of $5.42. The company has a market cap of $1.06 billion, a P/E ratio of -2.02 and a beta of 2.31. The business’s 50-day simple moving average is $3.28 and its 200-day simple moving average is $2.57.

Wall Street Analyst Weigh In

Separately, Roth Mkm cut 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 research note on Thursday, November 7th. Two analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $3.90.

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.