Eos Energy Enterprises, Inc. (NASDAQ:EOSE) Given Consensus Rating of “Moderate Buy” by Brokerages

Eos Energy Enterprises, Inc. (NASDAQ:EOSE) has been assigned an average rating of “Moderate Buy” from the six ratings firms that are presently covering the company, MarketBeat reports. Two equities research analysts have rated the stock with a hold recommendation and four have issued a buy recommendation on the company. The average 1-year target price among brokers that have covered the stock in the last year is $3.90.

Separately, Roth Mkm cut their price objective on 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.

Hedge Funds Weigh In On Eos Energy Enterprises

Institutional investors have recently added to or reduced their stakes in the business. Millennium Management LLC raised its position in shares of Eos Energy Enterprises by 5,744.5% during the second quarter. Millennium Management LLC now owns 3,164,017 shares of the company’s stock worth $4,018,000 after purchasing an additional 3,109,880 shares during the period. Point72 Asia Singapore Pte. Ltd. acquired a new position in shares of Eos Energy Enterprises during the second quarter worth approximately $216,000. Geode Capital Management LLC raised its position in shares of 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 worth $7,335,000 after purchasing an additional 376,494 shares during the period. Tidal Investments LLC acquired a new position in shares of Eos Energy Enterprises during the third quarter worth approximately $993,000. Finally, State Street Corp raised its position in shares of Eos Energy Enterprises by 9.5% during the third quarter. State Street Corp now owns 875,439 shares of the company’s stock worth $2,600,000 after purchasing an additional 75,657 shares during the period. 54.87% of the stock is owned by institutional investors and hedge funds.

Eos Energy Enterprises Price Performance

Eos Energy Enterprises stock opened at $5.74 on Friday. The stock’s 50 day moving average is $3.92 and its 200 day moving average is $2.98. The firm has a market cap of $1.25 billion, a P/E ratio of -2.38 and a beta of 2.09. Eos Energy Enterprises has a one year low of $0.61 and a one year high of $6.47.

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.