Analysts Set Eos Energy Enterprises, Inc. (NASDAQ:EOSE) PT at $6.08

Shares of Eos Energy Enterprises, Inc. (NASDAQ:EOSE) have been assigned a consensus recommendation of “Moderate Buy” from the eight research firms that are presently covering the company, Marketbeat Ratings reports. Two investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The average 12 month target price among brokers that have updated their coverage on the stock in the last year is $6.08.

Several equities research analysts have issued reports on the company. Roth Capital restated a “buy” rating on shares of Eos Energy Enterprises in a research report on Monday, December 4th. Guggenheim decreased their price target on Eos Energy Enterprises from $10.00 to $4.00 and set a “buy” rating on the stock in a research report on Thursday, March 7th. Roth Mkm assumed coverage on shares of Eos Energy Enterprises in a research report on Monday, December 4th. They issued a “buy” rating and a $6.00 price objective for the company. Finally, Evercore ISI decreased their target price on shares of Eos Energy Enterprises from $12.00 to $7.00 and set an “outperform” rating on the stock in a report on Wednesday, March 6th.

Eos Energy Enterprises Stock Performance

Shares of Eos Energy Enterprises stock opened at $1.03 on Friday. The stock has a market capitalization of $208.73 million, a P/E ratio of -0.48 and a beta of 2.22. Eos Energy Enterprises has a 52-week low of $0.73 and a 52-week high of $5.67. The stock’s 50-day simple moving average is $1.04 and its 200 day simple moving average is $1.35.

Eos Energy Enterprises (NASDAQ:EOSE) last posted its quarterly earnings results on Monday, March 4th. The company reported ($0.16) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.22) by $0.06. The business had revenue of $6.61 million during the quarter. Equities research analysts forecast that Eos Energy Enterprises will post -0.63 EPS for the current fiscal year.

Hedge Funds Weigh In On Eos Energy Enterprises

A number of hedge funds and other institutional investors have recently bought and sold shares of EOSE. Advisor Group Holdings Inc. grew its position in Eos Energy Enterprises by 899.6% in the first quarter. Advisor Group Holdings Inc. now owns 19,662 shares of the company’s stock worth $82,000 after acquiring an additional 17,695 shares in the last quarter. JPMorgan Chase & Co. increased its position in shares of Eos Energy Enterprises by 3,665.1% during the 1st quarter. JPMorgan Chase & Co. now owns 624,856 shares of the company’s stock valued at $2,612,000 after purchasing an additional 608,260 shares during the last quarter. Bank of Montreal Can bought a new stake in Eos Energy Enterprises in the 1st quarter worth approximately $51,000. Healthcare of Ontario Pension Plan Trust Fund purchased a new stake in Eos Energy Enterprises in the first quarter worth approximately $172,000. Finally, BlackRock Inc. grew its position in Eos Energy Enterprises by 1.1% during the first quarter. BlackRock Inc. now owns 2,668,119 shares of the company’s stock valued at $11,153,000 after acquiring an additional 27,981 shares during the last quarter. Hedge funds and other institutional investors own 54.87% of the company’s stock.

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.