Eos Energy Enterprises, Inc. (NASDAQ:EOSE) Given Consensus Recommendation of “Hold” by Brokerages

Shares of Eos Energy Enterprises, Inc. (NASDAQ:EOSE) have received an average rating of “Hold” from the eight research firms that are covering the firm, Marketbeat reports. Five research analysts have rated the stock with a hold rating and three have given a buy rating to the company. The average 12-month price target among brokers that have issued a report on the stock in the last year is $4.70.

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

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the company. WESPAC Advisors LLC lifted 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 valued at $61,000 after acquiring an additional 1,798 shares in the last quarter. Wells Fargo & Company MN raised its holdings in shares of Eos Energy Enterprises by 3.6% in the fourth quarter. Wells Fargo & Company MN now owns 62,075 shares of the company’s stock valued at $302,000 after purchasing an additional 2,175 shares during the last quarter. Montag A & Associates Inc. lifted its position in shares of Eos Energy Enterprises by 21.0% in the fourth quarter. Montag A & Associates Inc. now owns 13,809 shares of the company’s stock worth $67,000 after purchasing an additional 2,400 shares in the last quarter. Parkside Financial Bank & Trust acquired a new position in Eos Energy Enterprises during the fourth quarter worth $29,000. Finally, R Squared Ltd bought a new position in Eos Energy Enterprises in the fourth quarter valued at $31,000. 54.87% of the stock is owned by institutional investors and hedge funds.

Eos Energy Enterprises Price Performance

Shares of NASDAQ:EOSE opened at $4.75 on Friday. The firm’s 50 day simple moving average is $4.27 and its 200 day simple moving average is $4.06. Eos Energy Enterprises has a fifty-two week low of $0.61 and a fifty-two week high of $6.64. The company has a market capitalization of $1.08 billion, a price-to-earnings ratio of -1.97 and a beta of 2.17.

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.