Analysts Set Eos Energy Enterprises, Inc. (NASDAQ:EOSE) Price Target at $3.90

Eos Energy Enterprises, Inc. (NASDAQ:EOSE) has been assigned a consensus recommendation of “Moderate Buy” from the six ratings firms that are covering the company, Marketbeat reports. Two investment analysts have rated the stock with a hold recommendation and four have issued a buy recommendation on the company. The average 1 year price target among brokerages that have updated their coverage on the stock in the last year is $3.90.

Separately, Roth Mkm cut their price target on shares of Eos Energy Enterprises from $4.50 to $4.00 and set a “buy” rating on the stock in a report on Thursday, November 7th.

Eos Energy Enterprises Price Performance

EOSE stock opened at $5.17 on Monday. Eos Energy Enterprises has a twelve month low of $0.61 and a twelve month high of $5.42. The firm has a market cap of $1.13 billion, a price-to-earnings ratio of -2.15 and a beta of 2.31. The business’s fifty day simple moving average is $3.20 and its two-hundred day simple moving average is $2.51.

Hedge Funds Weigh In On Eos Energy Enterprises

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Millennium Management LLC grew its holdings in Eos Energy Enterprises by 5,744.5% during the 2nd quarter. Millennium Management LLC now owns 3,164,017 shares of the company’s stock worth $4,018,000 after acquiring an additional 3,109,880 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. purchased a new stake in shares of Eos Energy Enterprises in the 2nd quarter worth approximately $216,000. Tidal Investments LLC bought a new position in shares of Eos Energy Enterprises during the third quarter valued at approximately $993,000. NewEdge Advisors LLC increased its holdings in Eos Energy Enterprises by 30.2% during the second quarter. NewEdge Advisors LLC now owns 2,588,823 shares of the company’s stock valued at $3,288,000 after buying an additional 600,143 shares during the period. Finally, Cullen Frost Bankers Inc. raised its stake in Eos Energy Enterprises by 40.0% in the second quarter. Cullen Frost Bankers Inc. now owns 70,000 shares of the company’s stock worth $89,000 after buying an additional 20,000 shares in the last quarter. Institutional investors own 54.87% of the company’s stock.

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.