Eos Energy Enterprises (NASDAQ:EOSE) Receives “Buy” Rating from Guggenheim

Eos Energy Enterprises (NASDAQ:EOSE)‘s stock had its “buy” rating reissued by analysts at Guggenheim in a research report issued to clients and investors on Tuesday,Benzinga reports. They presently have a $7.00 price target on the stock. Guggenheim’s price objective points to a potential upside of 71.36% from the stock’s current price.

Several other analysts have also recently commented on the company. Cowen restated a “hold” rating on shares of Eos Energy Enterprises in a report on Friday, March 7th. Roth Capital lowered Eos Energy Enterprises from a “strong-buy” rating to a “hold” rating in a research note on Thursday, February 20th. Finally, Roth Mkm lowered Eos Energy Enterprises from a “buy” rating to a “neutral” rating and upped their price target for the company from $4.00 to $5.00 in a research note on Thursday, February 20th. Five analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, Eos Energy Enterprises has a consensus rating of “Hold” and an average target price of $4.70.

Eos Energy Enterprises Price Performance

Shares of EOSE stock traded down $0.08 during trading hours on Tuesday, hitting $4.09. 596,888 shares of the company’s stock were exchanged, compared to its average volume of 7,370,660. The stock’s 50-day moving average is $5.00 and its 200-day moving average is $3.81. The stock has a market cap of $925.66 million, a price-to-earnings ratio of -1.70 and a beta of 2.15. Eos Energy Enterprises has a 52 week low of $0.61 and a 52 week high of $6.64.

Hedge Funds Weigh In On Eos Energy Enterprises

Several hedge funds have recently added to or reduced their stakes in EOSE. SCP Investment LP acquired a new position in Eos Energy Enterprises in the third quarter valued at about $80,000. Meridian Wealth Management LLC acquired a new stake in shares of Eos Energy Enterprises during the third quarter worth about $233,000. WESPAC Advisors LLC bought a new position in shares of Eos Energy Enterprises during the 3rd quarter valued at about $32,000. FMR LLC lifted its holdings in shares of Eos Energy Enterprises by 67.8% during the 3rd quarter. FMR LLC now owns 58,651 shares of the company’s stock valued at $174,000 after purchasing an additional 23,706 shares in the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund bought a new position in shares of Eos Energy Enterprises during the 3rd quarter valued at about $741,000. Institutional investors and hedge funds 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.