Eos Energy Enterprises, Inc. (NASDAQ:EOSE) Receives Average Rating of “Moderate Buy” from Analysts

Shares of Eos Energy Enterprises, Inc. (NASDAQ:EOSE) have earned a consensus recommendation of “Moderate Buy” from the six analysts that are presently covering the firm, MarketBeat reports. Two analysts have rated the stock with a hold recommendation and four have given a buy recommendation to the company. The average 12 month target price among brokers that have issued a report on the stock in the last year is $3.90.

Separately, Roth Mkm decreased their price target on Eos Energy Enterprises from $4.50 to $4.00 and set a “buy” rating for the company in a research note on Thursday, November 7th.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. Millennium Management LLC boosted its stake in shares of Eos Energy Enterprises by 5,744.5% during the 2nd quarter. Millennium Management LLC now owns 3,164,017 shares of the company’s stock worth $4,018,000 after acquiring an additional 3,109,880 shares in the last quarter. Brightline Capital Management LLC acquired a new position in shares of Eos Energy Enterprises in the 3rd quarter valued at $4,871,000. NewEdge Advisors LLC boosted its position in shares of Eos Energy Enterprises by 30.2% in the 2nd quarter. NewEdge Advisors LLC now owns 2,588,823 shares of the company’s stock valued at $3,288,000 after purchasing an additional 600,143 shares during the period. Geode Capital Management LLC increased its stake in 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 worth $7,335,000 after purchasing an additional 376,494 shares in the last quarter. Finally, Tidal Investments LLC acquired a new stake in Eos Energy Enterprises during the 3rd quarter worth about $993,000. Institutional investors and hedge funds own 54.87% of the company’s stock.

Eos Energy Enterprises Price Performance

Eos Energy Enterprises stock opened at $4.57 on Monday. Eos Energy Enterprises has a 12-month low of $0.61 and a 12-month high of $4.68. The stock has a market capitalization of $995.86 million, a PE ratio of -1.90 and a beta of 2.31. The firm has a 50 day simple moving average of $3.05 and a 200-day simple moving average of $2.36.

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.