Eos Energy Enterprises, Inc. (NASDAQ:EOSE) Receives $4.83 Consensus Target Price from Brokerages

Shares of Eos Energy Enterprises, Inc. (NASDAQ:EOSE) have been given a consensus recommendation of “Moderate Buy” by the eight analysts that are covering the stock, Marketbeat reports. Two equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. The average 12 month price target among brokers that have covered the stock in the last year is $4.83.

A number of equities research analysts have weighed in on EOSE shares. Stifel Nicolaus reiterated a “buy” rating and set a $13.00 price target on shares of Eos Energy Enterprises in a research note on Wednesday, May 15th. TD Cowen decreased their price target on shares of Eos Energy Enterprises from $3.00 to $2.50 and set a “hold” rating on the stock in a research note on Thursday, May 16th. Evercore ISI decreased their price target on shares of Eos Energy Enterprises from $7.00 to $3.00 and set an “outperform” rating on the stock in a research note on Thursday, May 16th. B. Riley upgraded shares of Eos Energy Enterprises to a “hold” rating in a research note on Tuesday, June 25th. Finally, Roth Mkm reiterated a “buy” rating and set a $4.50 price target on shares of Eos Energy Enterprises in a research note on Friday, June 28th.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Grimes & Company Inc. bought a new position in shares of Eos Energy Enterprises in the fourth quarter valued at about $44,000. Price T Rowe Associates Inc. MD raised its holdings in shares of Eos Energy Enterprises by 74.4% in the first quarter. Price T Rowe Associates Inc. MD now owns 43,930 shares of the company’s stock valued at $46,000 after buying an additional 18,735 shares during the last quarter. Powell Investment Advisors LLC raised its holdings in shares of Eos Energy Enterprises by 155.6% in the fourth quarter. Powell Investment Advisors LLC now owns 46,000 shares of the company’s stock valued at $50,000 after buying an additional 28,000 shares during the last quarter. Elevatus Welath Management bought a new position in shares of Eos Energy Enterprises in the fourth quarter valued at about $70,000. Finally, Daiwa Securities Group Inc. raised its holdings in shares of Eos Energy Enterprises by 146.1% in the fourth quarter. Daiwa Securities Group Inc. now owns 74,387 shares of the company’s stock valued at $81,000 after buying an additional 44,161 shares during the last quarter. 54.87% of the stock is owned by institutional investors.

Eos Energy Enterprises Trading Up 8.5 %

Shares of Eos Energy Enterprises stock opened at $1.92 on Monday. The company’s fifty day simple moving average is $0.89 and its 200-day simple moving average is $0.96. The company has a market cap of $399.61 million, a price-to-earnings ratio of -1.23 and a beta of 2.38. Eos Energy Enterprises has a 1 year low of $0.61 and a 1 year high of $5.05.

Eos Energy Enterprises (NASDAQ:EOSE) last announced its quarterly earnings data on Tuesday, May 14th. The company reported ($0.23) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.24) by $0.01. The company had revenue of $6.60 million during the quarter, compared to analyst estimates of $6.57 million. As a group, research analysts forecast that Eos Energy Enterprises will post -0.7 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.