Stifel Nicolaus Increases Eos Energy Enterprises (NASDAQ:EOSE) Price Target to $15.00

Eos Energy Enterprises (NASDAQ:EOSE) had its price target lifted by equities researchers at Stifel Nicolaus from $13.00 to $15.00 in a report released on Friday, Marketbeat.com reports. The brokerage currently has a “buy” rating on the stock. Stifel Nicolaus’ price target would suggest a potential upside of 289.61% from the stock’s current price.

Several other equities analysts also recently commented on the stock. Seaport Res Ptn reissued a “buy” rating on shares of Eos Energy Enterprises in a research report on Friday, July 28th. TD Cowen began coverage on Eos Energy Enterprises in a report on Friday, June 2nd. They set a “market perform” rating and a $2.50 price objective on the stock. B. Riley raised their price objective on Eos Energy Enterprises from $4.00 to $5.00 and gave the company a “neutral” rating in a research note on Friday. Finally, Guggenheim raised Eos Energy Enterprises from a “neutral” rating to a “buy” rating and set a $10.00 target price for the company in a research report on Friday. Two research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $7.30.

Eos Energy Enterprises Stock Up 18.5 %

Shares of EOSE opened at $3.85 on Friday. The firm has a market cap of $515.88 million, a price-to-earnings ratio of -1.03 and a beta of 2.74. The company’s fifty day moving average is $3.37 and its 200-day moving average is $2.68. Eos Energy Enterprises has a 12 month low of $0.95 and a 12 month high of $5.66.

Insider Activity at Eos Energy Enterprises

In other Eos Energy Enterprises news, CEO Joe Mastrangelo purchased 31,199 shares of the company’s stock in a transaction on Friday, July 28th. The shares were bought at an average cost of $2.23 per share, with a total value of $69,573.77. Following the transaction, the chief executive officer now directly owns 554,299 shares in the company, valued at approximately $1,236,086.77. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders acquired a total of 40,199 shares of company stock worth $88,824 in the last 90 days. 8.10% of the stock is owned by company insiders.

Hedge Funds Weigh In On Eos Energy Enterprises

Several large investors have recently bought and sold shares of the stock. Metropolitan Life Insurance Co NY acquired a new position in shares of Eos Energy Enterprises during the second quarter valued at about $26,000. Itau Unibanco Holding S.A. acquired a new position in Eos Energy Enterprises in the 2nd quarter valued at approximately $32,000. Cambridge Investment Research Advisors Inc. bought a new stake in shares of Eos Energy Enterprises in the 1st quarter worth approximately $34,000. Bayesian Capital Management LP acquired a new stake in shares of Eos Energy Enterprises during the 1st quarter worth approximately $36,000. Finally, Ameritas Investment Partners Inc. bought a new stake in shares of Eos Energy Enterprises during the second quarter valued at approximately $39,000. 65.36% of the stock is currently owned by institutional investors and hedge funds.

About Eos Energy Enterprises

Eos Energy Enterprises, Inc designs, manufactures, and markets zinc-based energy storage solutions for utility, commercial and industrial, and microgrid markets in the United States. The company's flagship product is the Eos Znyth DC system, a battery that can be used as an alternative to Li-ion batteries.