Guggenheim Reiterates "Buy" Rating for Eos Energy Enterprises (NASDAQ:EOSE)

Eos Energy Enterprises (NASDAQ:EOSE - Get Free Report)'s stock had its "buy" rating reissued by analysts at Guggenheim in a research report issued to clients and investors on Tuesday,Benzinga reports. They presently have a $7.00 price target on the stock. Guggenheim's price objective indicates a potential upside of 59.45% from the company's previous close.

EOSE has been the subject of several other research reports. Cowen reiterated a "hold" rating on shares of Eos Energy Enterprises in a research report on Friday, March 7th. Roth Mkm lowered shares of Eos Energy Enterprises from a "buy" rating to a "neutral" rating and boosted their price objective for the stock from $4.00 to $5.00 in a report on Thursday, February 20th. Finally, Roth Capital cut Eos Energy Enterprises from a "strong-buy" rating to a "hold" rating in a research report on Thursday, February 20th. Five research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat, Eos Energy Enterprises presently has an average rating of "Hold" and a consensus price target of $4.70.

Eos Energy Enterprises Price Performance

Shares of Eos Energy Enterprises stock traded up $0.13 during trading hours on Tuesday, reaching $4.39. The company had a trading volume of 3,668,078 shares, compared to its average volume of 7,400,564. The business has a fifty day simple moving average of $4.93 and a 200 day simple moving average of $3.85. The firm has a market cap of $994.77 million, a PE ratio of -1.82 and a beta of 2.15. Eos Energy Enterprises has a one year low of $0.61 and a one year high of $6.64.

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Hedge Funds Weigh In On Eos Energy Enterprises

A number of large investors have recently added to or reduced their stakes in the stock. Stifel Financial Corp increased its stake in Eos Energy Enterprises by 6.4% during the 4th quarter. Stifel Financial Corp now owns 4,978,078 shares of the company's stock worth $24,193,000 after buying an additional 297,909 shares in the last quarter. Legal & General Group Plc boosted its stake in shares of Eos Energy Enterprises by 61,220.5% in the fourth quarter. Legal & General Group Plc now owns 4,804,461 shares of the company's stock worth $23,350,000 after acquiring an additional 4,796,626 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new stake in shares of Eos Energy Enterprises during the fourth quarter worth approximately $16,632,000. Geode Capital Management LLC raised its stake in Eos Energy Enterprises by 1.7% in the 4th quarter. Geode Capital Management LLC now owns 2,510,088 shares of the company's stock valued at $12,205,000 after purchasing an additional 41,440 shares during the last quarter. Finally, Barings LLC lifted its holdings in Eos Energy Enterprises by 100.5% in the 4th quarter. Barings LLC now owns 2,403,448 shares of the company's stock valued at $11,681,000 after purchasing an additional 1,204,430 shares in the last quarter. 54.87% of the stock is currently owned by institutional investors and hedge funds.

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.