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

Eos Energy Enterprises, Inc. (NASDAQ:EOSE) has received a consensus recommendation of “Moderate Buy” from the eight brokerages that are presently covering the stock, Marketbeat reports. Two analysts have rated the stock with a hold recommendation and six have given a buy recommendation to the company. The average 1-year price target among analysts that have updated their coverage on the stock in the last year is $6.08.

A number of equities analysts recently commented on the stock. Guggenheim lowered their price target on shares of Eos Energy Enterprises from $10.00 to $4.00 and set a “buy” rating on the stock in a research report on Thursday, March 7th. Evercore ISI decreased their target price on shares of Eos Energy Enterprises from $12.00 to $7.00 and set an “outperform” rating on the stock in a report on Wednesday, March 6th.

Eos Energy Enterprises Stock Performance

NASDAQ:EOSE opened at $0.81 on Wednesday. Eos Energy Enterprises has a 52 week low of $0.73 and a 52 week high of $5.67. The firm has a market cap of $164.37 million, a price-to-earnings ratio of -0.38 and a beta of 2.23. The firm’s 50-day simple moving average is $1.00 and its 200 day simple moving average is $1.21.

Eos Energy Enterprises (NASDAQ:EOSE) last released its quarterly earnings results on Monday, March 4th. The company reported ($0.16) EPS for the quarter, topping analysts’ consensus estimates of ($0.22) by $0.06. The business had revenue of $6.61 million for the quarter. Sell-side analysts anticipate that Eos Energy Enterprises will post -0.63 EPS for the current year.

Institutional Investors Weigh In On Eos Energy Enterprises

Several hedge funds have recently added to or reduced their stakes in EOSE. Advisor Group Holdings Inc. boosted its position in Eos Energy Enterprises by 899.6% during the 1st quarter. Advisor Group Holdings Inc. now owns 19,662 shares of the company’s stock worth $82,000 after buying an additional 17,695 shares during the period. JPMorgan Chase & Co. lifted its position in shares of Eos Energy Enterprises by 3,665.1% in the 1st quarter. JPMorgan Chase & Co. now owns 624,856 shares of the company’s stock worth $2,612,000 after purchasing an additional 608,260 shares during the period. Bank of Montreal Can bought a new stake in shares of Eos Energy Enterprises in the 1st quarter valued at $51,000. Healthcare of Ontario Pension Plan Trust Fund bought a new stake in shares of Eos Energy Enterprises in the 1st quarter valued at $172,000. Finally, BlackRock Inc. increased its stake in shares of Eos Energy Enterprises by 1.1% in the 1st quarter. BlackRock Inc. now owns 2,668,119 shares of the company’s stock valued at $11,153,000 after acquiring an additional 27,981 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.