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

Eos Energy Enterprises, Inc. (NASDAQ:EOSE - Get Free Report) has earned a consensus recommendation of "Hold" from the seven ratings firms that are currently covering the company, MarketBeat reports. Four equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. The average twelve-month target price among brokerages that have issued ratings on the stock in the last year is $4.10.

Several brokerages have commented on EOSE. Roth Mkm downgraded Eos Energy Enterprises from a "buy" rating to a "neutral" rating and increased their target price for the company from $4.00 to $5.00 in a research note on Thursday. Roth Capital cut Eos Energy Enterprises from a "strong-buy" rating to a "hold" rating in a research report on Thursday.

Eos Energy Enterprises Stock Performance

Shares of NASDAQ:EOSE traded down $0.22 during trading on Thursday, reaching $4.27. 6,134,271 shares of the stock traded hands, compared to its average volume of 7,867,965. The stock has a market cap of $929.39 million, a P/E ratio of -1.77 and a beta of 2.10. The stock has a 50-day moving average of $5.19 and a two-hundred day moving average of $3.57. Eos Energy Enterprises has a 52-week low of $0.61 and a 52-week high of $6.64.

Hedge Funds Weigh In On Eos Energy Enterprises

Several hedge funds and other institutional investors have recently modified their holdings of the company. Geode Capital Management LLC increased its position in Eos Energy Enterprises by 18.0% during the third quarter. Geode Capital Management LLC now owns 2,468,648 shares of the company's stock valued at $7,335,000 after acquiring an additional 376,494 shares during the last quarter. Tidal Investments LLC bought a new stake in shares of Eos Energy Enterprises during the 3rd quarter valued at about $993,000. State Street Corp increased its position in shares of Eos Energy Enterprises by 9.5% during the 3rd quarter. State Street Corp now owns 875,439 shares of the company's stock valued at $2,600,000 after purchasing an additional 75,657 shares during the last quarter. Vontobel Holding Ltd. bought a new position in shares of Eos Energy Enterprises in the 4th quarter worth approximately $146,000. Finally, Stephens Inc. AR purchased a new position in shares of Eos Energy Enterprises in the fourth quarter worth approximately $64,000. 54.87% of the stock is owned by institutional investors.

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.