Brokerages Set Eos Energy Enterprises, Inc. (NASDAQ:EOSE) Price Target at $4.83

Eos Energy Enterprises, Inc. (NASDAQ:EOSE - Get Free Report) has earned an average recommendation of "Moderate Buy" from the eight research firms that are covering the stock, Marketbeat Ratings reports. Two equities research analysts have rated the stock with a hold rating and six have issued a buy rating on the company. The average 1-year price target among analysts that have covered the stock in the last year is $4.83.

A number of research analysts have recently commented on the stock. Roth Mkm dropped their price objective on shares of Eos Energy Enterprises from $6.00 to $4.50 and set a "buy" rating for the company in a research note on Thursday, May 16th. TD Cowen dropped their price objective on shares of Eos Energy Enterprises from $3.00 to $2.50 and set a "hold" rating for the company in a research note on Thursday, May 16th. Stifel Nicolaus reaffirmed a "buy" rating and set a $13.00 price objective on shares of Eos Energy Enterprises in a research note on Wednesday, May 15th. Guggenheim dropped their price objective on shares of Eos Energy Enterprises from $10.00 to $4.00 and set a "buy" rating for the company in a research note on Thursday, March 7th. Finally, Evercore ISI decreased their target price on Eos Energy Enterprises from $7.00 to $3.00 and set an "outperform" rating for the company in a report on Thursday, May 16th.

Institutional Investors Weigh In On Eos Energy Enterprises

Several large investors have recently added to or reduced their stakes in EOSE. Vanguard Group Inc. boosted its stake in Eos Energy Enterprises by 6.6% during the first quarter. Vanguard Group Inc. now owns 9,375,916 shares of the company's stock valued at $9,657,000 after buying an additional 580,022 shares in the last quarter. Electron Capital Partners LLC lifted its holdings in shares of Eos Energy Enterprises by 226.6% during the 4th quarter. Electron Capital Partners LLC now owns 6,958,125 shares of the company's stock valued at $7,584,000 after buying an additional 4,827,586 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its holdings in shares of Eos Energy Enterprises by 24.7% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,258,058 shares of the company's stock valued at $4,641,000 after buying an additional 843,918 shares during the last quarter. Invesco Ltd. lifted its holdings in Eos Energy Enterprises by 23.6% in the 3rd quarter. Invesco Ltd. now owns 3,128,582 shares of the company's stock worth $6,726,000 after purchasing an additional 597,279 shares during the last quarter. Finally, Stifel Financial Corp lifted its holdings in Eos Energy Enterprises by 503.7% in the 3rd quarter. Stifel Financial Corp now owns 930,205 shares of the company's stock worth $2,000,000 after purchasing an additional 776,110 shares during the last quarter. 54.87% of the stock is owned by institutional investors and hedge funds.

Eos Energy Enterprises Stock Down 1.7 %

NASDAQ:EOSE traded down $0.01 during midday trading on Thursday, reaching $0.69. The stock had a trading volume of 3,523,113 shares, compared to its average volume of 5,392,147. The firm has a fifty day simple moving average of $0.78 and a two-hundred day simple moving average of $0.96. Eos Energy Enterprises has a 12-month low of $0.61 and a 12-month high of $5.67. The stock has a market cap of $143.61 million, a P/E ratio of -0.44 and a beta of 2.24.

Eos Energy Enterprises (NASDAQ:EOSE - Get Free Report) last posted its quarterly earnings data on Tuesday, May 14th. The company reported ($0.23) earnings per share for the quarter, beating analysts' consensus estimates of ($0.24) by $0.01. The firm had revenue of $6.60 million during the quarter, compared to analysts' expectations of $6.57 million. On average, sell-side analysts anticipate that Eos Energy Enterprises will post -0.79 earnings per share for the current fiscal year.

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.