Eos Energy Enterprises, Inc. (NASDAQ:EOSE) Receives $3.67 Average Price Target from Brokerages

Shares of Eos Energy Enterprises, Inc. (NASDAQ:EOSE) have received a consensus rating of “Moderate Buy” from the seven research firms that are presently covering the stock, MarketBeat Ratings reports. Two investment analysts have rated the stock with a hold recommendation and five have given a buy recommendation to the company. The average 1-year price objective among brokerages that have issued a report on the stock in the last year is $3.67.

EOSE has been the topic of a number of recent analyst reports. Stifel Nicolaus reaffirmed a “buy” rating and set a $6.00 price target on shares of Eos Energy Enterprises in a report on Wednesday, August 21st. Roth Mkm reissued a “buy” rating and issued a $4.50 price objective on shares of Eos Energy Enterprises in a report on Friday, June 28th. Finally, B. Riley raised shares of Eos Energy Enterprises to a “hold” rating in a report on Tuesday, June 25th.

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 transaction, the director now owns 84,929 shares of the company’s stock, valued at $222,513.98. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 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 transaction, the director now owns 84,929 shares of the company’s stock, valued at $222,513.98. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Joe Mastrangelo purchased 52,800 shares of the stock in a transaction on Friday, August 9th. The shares were purchased at an average cost of $1.43 per share, for a total transaction of $75,504.00. Following the acquisition, the chief executive officer now directly owns 909,793 shares of the company’s stock, valued at $1,301,003.99. The disclosure for this purchase can be found here. 4.06% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Eos Energy Enterprises

Several large investors have recently added to or reduced their stakes in EOSE. Electron Capital Partners LLC lifted its holdings in Eos Energy Enterprises by 226.6% during the fourth quarter. Electron Capital Partners LLC now owns 6,958,125 shares of the company’s stock valued at $7,584,000 after purchasing an additional 4,827,586 shares in the last quarter. Millennium Management LLC lifted its holdings in shares of 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 lifted its holdings in shares of Eos Energy Enterprises by 30.2% in the second 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 in the last quarter. Vanguard Group Inc. lifted its holdings in shares of Eos Energy Enterprises by 6.6% in the first quarter. Vanguard Group Inc. now owns 9,375,916 shares of the company’s stock worth $9,657,000 after buying an additional 580,022 shares in the last quarter. Finally, B. Riley Wealth Advisors Inc. lifted its holdings in shares of Eos Energy Enterprises by 940.6% in the first quarter. B. Riley Wealth Advisors Inc. now owns 275,765 shares of the company’s stock worth $284,000 after buying an additional 249,265 shares in the last quarter. Hedge funds and other institutional investors own 54.87% of the company’s stock.

Eos Energy Enterprises Stock Down 3.2 %

Shares of NASDAQ EOSE opened at $2.45 on Friday. The firm’s 50-day moving average price is $2.10 and its 200-day moving average price is $1.35. The company has a market cap of $509.91 million, a PE ratio of -1.57 and a beta of 2.39. Eos Energy Enterprises has a 52-week low of $0.61 and a 52-week high of $2.81.

Eos Energy Enterprises (NASDAQ:EOSE) last announced its quarterly earnings results on Tuesday, August 6th. The company reported ($0.30) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.19) by ($0.11). The firm had revenue of $0.90 million for the quarter, compared to analysts’ expectations of $4.38 million. As a group, equities research analysts anticipate that Eos Energy Enterprises will post -0.78 EPS for the current fiscal year.

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.