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

Shares of Eos Energy Enterprises, Inc. (NASDAQ:EOSE) have earned a consensus recommendation of “Moderate Buy” from the eight analysts that are covering the company, MarketBeat reports. Two equities research analysts have rated the stock with a hold recommendation and six have issued a buy recommendation on the company. The average 1-year target price among brokers that have issued ratings on the stock in the last year is $6.08.

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

Institutional Investors Weigh In On Eos Energy Enterprises

Institutional investors have recently modified their holdings of the stock. Advisor Group Holdings Inc. lifted its stake in shares of Eos Energy Enterprises by 899.6% in the 1st quarter. Advisor Group Holdings Inc. now owns 19,662 shares of the company’s stock valued at $82,000 after purchasing an additional 17,695 shares during the last quarter. JPMorgan Chase & Co. lifted its stake 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 valued at $2,612,000 after purchasing an additional 608,260 shares during the last quarter. Bank of Montreal Can acquired a new stake in shares of Eos Energy Enterprises in the 1st quarter valued at $51,000. Healthcare of Ontario Pension Plan Trust Fund acquired a new stake in shares of Eos Energy Enterprises in the 1st quarter valued at $172,000. Finally, BlackRock Inc. lifted 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 purchasing an additional 27,981 shares during the last quarter. Institutional investors and hedge funds own 54.87% of the company’s stock.

Eos Energy Enterprises Stock Performance

Eos Energy Enterprises stock opened at $0.81 on Wednesday. The company has a 50 day moving average price of $1.00 and a 200 day moving average price of $1.21. Eos Energy Enterprises has a 52 week low of $0.73 and a 52 week high of $5.67. The firm has a market capitalization of $164.37 million, a price-to-earnings ratio of -0.38 and a beta of 2.23.

Eos Energy Enterprises (NASDAQ:EOSE) last posted its quarterly earnings data on Monday, March 4th. The company reported ($0.16) EPS for the quarter, topping analysts’ consensus estimates of ($0.22) by $0.06. The firm had revenue of $6.61 million during the quarter. Equities analysts forecast that Eos Energy Enterprises will post -0.63 earnings per share for the current fiscal year.

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.