Eos Energy Enterprises, Inc. (NASDAQ:EOSE) Receives Consensus Recommendation of "Hold" from Brokerages

Shares of Eos Energy Enterprises, Inc. (NASDAQ:EOSE - Get Free Report) have been given a consensus rating of "Hold" by the eight brokerages that are presently covering the company, MarketBeat reports. Five research analysts have rated the stock with a hold recommendation and three have assigned a buy recommendation to the company. The average 12-month target price among brokers that have covered the stock in the last year is $4.70.

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

Institutional Trading of Eos Energy Enterprises

Several large investors have recently added to or reduced their stakes in the business. Arizona State Retirement System bought a new position in Eos Energy Enterprises in the fourth quarter worth approximately $305,000. Geode Capital Management LLC raised its holdings in Eos Energy Enterprises by 18.0% in the 3rd quarter. Geode Capital Management LLC now owns 2,468,648 shares of the company's stock worth $7,335,000 after purchasing an additional 376,494 shares during the period. Tidal Investments LLC purchased a new position in Eos Energy Enterprises during the third quarter valued at $993,000. FourThought Financial Partners LLC bought a new stake in Eos Energy Enterprises during the fourth quarter valued at about $1,335,000. Finally, Raymond James Financial Inc. purchased a new stake in Eos Energy Enterprises in the fourth quarter worth about $315,000. 54.87% of the stock is currently owned by institutional investors.

Eos Energy Enterprises Stock Down 4.1 %

Shares of Eos Energy Enterprises stock traded down $0.21 on Friday, reaching $4.84. The company's stock had a trading volume of 2,096,092 shares, compared to its average volume of 7,401,850. The company has a market capitalization of $1.10 billion, a price-to-earnings ratio of -2.01 and a beta of 2.17. Eos Energy Enterprises has a 52 week low of $0.61 and a 52 week high of $6.64. The firm's fifty day simple moving average is $4.29 and its two-hundred day simple moving average is $4.04.

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.