Brokerages Set Eos Energy Enterprises, Inc. (NASDAQ:EOSE) PT at $4.70

Shares of Eos Energy Enterprises, Inc. (NASDAQ:EOSE) have been assigned an average recommendation of “Hold” from the eight analysts that are currently covering the firm, MarketBeat reports. Five research analysts have rated the stock with a hold recommendation and three have issued a buy recommendation on the company. The average twelve-month price objective among brokers that have issued ratings on the stock in the last year is $4.70.

A number of brokerages have commented on EOSE. Roth Capital downgraded shares of Eos Energy Enterprises from a “strong-buy” rating to a “hold” rating in a research note on Thursday, February 20th. Roth Mkm downgraded Eos Energy Enterprises from a “buy” rating to a “neutral” rating and lifted their target price for the company from $4.00 to $5.00 in a research report on Thursday, February 20th. Cowen reiterated a “hold” rating on shares of Eos Energy Enterprises in a research note on Friday, March 7th. Finally, Guggenheim reiterated a “buy” rating and issued a $7.00 price target on shares of Eos Energy Enterprises in a research note on Tuesday, March 18th.

Institutional Investors Weigh In On Eos Energy Enterprises

Hedge funds and other institutional investors have recently modified their holdings of the stock. WESPAC Advisors LLC grew its stake in Eos Energy Enterprises by 16.6% in the 4th quarter. WESPAC Advisors LLC now owns 12,647 shares of the company’s stock worth $61,000 after acquiring an additional 1,798 shares during the period. Wells Fargo & Company MN lifted its position in shares of Eos Energy Enterprises by 3.6% during the fourth quarter. Wells Fargo & Company MN now owns 62,075 shares of the company’s stock worth $302,000 after purchasing an additional 2,175 shares in the last quarter. Montag A & Associates Inc. boosted its holdings in Eos Energy Enterprises by 21.0% in the fourth quarter. Montag A & Associates Inc. now owns 13,809 shares of the company’s stock valued at $67,000 after purchasing an additional 2,400 shares during the last quarter. Carmel Capital Partners LLC grew its position in shares of Eos Energy Enterprises by 24.5% during the first quarter. Carmel Capital Partners LLC now owns 12,450 shares of the company’s stock worth $47,000 after buying an additional 2,450 shares in the last quarter. Finally, Cambridge Investment Research Advisors Inc. grew its holdings in Eos Energy Enterprises by 16.9% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 33,053 shares of the company’s stock worth $125,000 after acquiring an additional 4,767 shares in the last quarter. 54.87% of the stock is currently owned by institutional investors and hedge funds.

Eos Energy Enterprises Price Performance

Shares of NASDAQ:EOSE opened at $6.03 on Tuesday. The firm has a market capitalization of $1.37 billion, a P/E ratio of -2.50 and a beta of 2.11. Eos Energy Enterprises has a 1 year low of $0.62 and a 1 year high of $6.89. The business’s 50-day moving average is $4.46 and its 200 day moving average is $4.27.

Eos Energy Enterprises (NASDAQ:EOSE) last announced its quarterly earnings results on Tuesday, May 6th. The company reported ($0.20) earnings per share for the quarter, missing the consensus estimate of ($0.19) by ($0.01). The company had revenue of $10.46 million during the quarter, compared to the consensus estimate of $11.77 million. On average, analysts expect that Eos Energy Enterprises will post -2.54 EPS for the current year.

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.