Geode Capital Management LLC Grows Stock Holdings in Eos Energy Enterprises, Inc. (NASDAQ:EOSE)

Geode Capital Management LLC boosted its stake in shares of Eos Energy Enterprises, Inc. (NASDAQ:EOSE - Free Report) by 18.0% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 2,468,648 shares of the company's stock after acquiring an additional 376,494 shares during the quarter. Geode Capital Management LLC owned 1.14% of Eos Energy Enterprises worth $7,335,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Millennium Management LLC grew its stake in Eos Energy Enterprises by 5,744.5% in the 2nd quarter. Millennium Management LLC now owns 3,164,017 shares of the company's stock valued at $4,018,000 after acquiring an additional 3,109,880 shares during the period. Point72 Asia Singapore Pte. Ltd. purchased a new position in Eos Energy Enterprises during the second quarter worth about $216,000. State Street Corp increased its holdings 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 worth $2,600,000 after buying an additional 75,657 shares during the last quarter. NewEdge Advisors LLC lifted its stake 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 last quarter. Finally, FMR LLC lifted its position in Eos Energy Enterprises by 67.8% in the third quarter. FMR LLC now owns 58,651 shares of the company's stock valued at $174,000 after buying an additional 23,706 shares during the last quarter. Hedge funds and other institutional investors own 54.87% of the company's stock.

Eos Energy Enterprises Stock Up 2.5 %

NASDAQ:EOSE traded up $0.14 on Friday, reaching $5.67. 9,026,312 shares of the company's stock were exchanged, compared to its average volume of 11,196,756. The business has a fifty day moving average of $3.36 and a 200-day moving average of $2.60. Eos Energy Enterprises, Inc. has a 52-week low of $0.61 and a 52-week high of $5.82. The firm has a market capitalization of $1.24 billion, a price-to-earnings ratio of -2.35 and a beta of 2.31.

Analysts Set New Price Targets

Separately, Roth Mkm reduced their price target on shares of Eos Energy Enterprises from $4.50 to $4.00 and set a "buy" rating on the stock in a research note on Thursday, November 7th. Two research analysts have rated the stock with a hold rating and four have given a buy rating to the company's stock. Based on data from MarketBeat.com, Eos Energy Enterprises has an average rating of "Moderate Buy" and a consensus target price of $3.90.

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.