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

Eos Energy Enterprises, Inc. (NASDAQ:EOSE) has been given a consensus recommendation of “Hold” by the seven ratings firms that are presently covering the stock, Marketbeat.com reports. Four investment analysts have rated the stock with a hold recommendation and three have given a buy recommendation to the company. The average 12 month price objective among brokers that have updated their coverage on the stock in the last year is $4.10.

A number of research firms have recently weighed in on EOSE. Roth Capital downgraded Eos Energy Enterprises from a “strong-buy” rating to a “hold” rating in a report on Thursday. Roth Mkm cut shares of Eos Energy Enterprises from a “buy” rating to a “neutral” rating and lifted their price objective for the stock from $4.00 to $5.00 in a research note on Thursday.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Hollencrest Capital Management raised its position in shares of Eos Energy Enterprises by 1,000.0% in the 3rd quarter. Hollencrest Capital Management now owns 8,250 shares of the company’s stock valued at $25,000 after buying an additional 7,500 shares in the last quarter. Parkside Financial Bank & Trust acquired a new position in Eos Energy Enterprises during the fourth quarter valued at approximately $29,000. R Squared Ltd acquired a new position in Eos Energy Enterprises during the fourth quarter valued at approximately $31,000. WESPAC Advisors LLC acquired a new position in shares of Eos Energy Enterprises during the 3rd quarter worth $32,000. Finally, Focused Wealth Management Inc acquired a new position in shares of Eos Energy Enterprises during the 3rd quarter worth $46,000. Institutional investors and hedge funds own 54.87% of the company’s stock.

Eos Energy Enterprises Trading Down 5.7 %

NASDAQ:EOSE opened at $4.48 on Thursday. The firm has a market capitalization of $976.24 million, a price-to-earnings ratio of -1.86 and a beta of 2.10. The firm’s fifty day simple moving average is $5.19 and its 200 day simple moving average is $3.55. Eos Energy Enterprises has a twelve month low of $0.61 and a twelve month high of $6.64.

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.