Raymond James Financial Inc. Buys Shares of 64,812 Eos Energy Enterprises, Inc. (NASDAQ:EOSE)

Raymond James Financial Inc. acquired a new position in Eos Energy Enterprises, Inc. (NASDAQ:EOSE - Free Report) in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 64,812 shares of the company's stock, valued at approximately $315,000.

Several other institutional investors and hedge funds have also added to or reduced their stakes in EOSE. Parkside Financial Bank & Trust purchased a new position in shares of Eos Energy Enterprises in the fourth quarter worth $29,000. R Squared Ltd purchased a new position in Eos Energy Enterprises in the 4th quarter worth about $31,000. Carmel Capital Partners LLC purchased a new stake in shares of Eos Energy Enterprises during the 4th quarter valued at about $49,000. Lake Street Private Wealth LLC bought a new stake in shares of Eos Energy Enterprises in the fourth quarter worth approximately $51,000. Finally, Harel Insurance Investments & Financial Services Ltd. purchased a new position in shares of Eos Energy Enterprises during the fourth quarter valued at approximately $58,000. Hedge funds and other institutional investors own 54.87% of the company's stock.

Eos Energy Enterprises Trading Up 7.4%

Shares of NASDAQ:EOSE traded up $0.47 on Tuesday, reaching $6.80. The company had a trading volume of 15,192,341 shares, compared to its average volume of 7,655,713. The firm's 50 day simple moving average is $4.53 and its 200-day simple moving average is $4.33. Eos Energy Enterprises, Inc. has a 52-week low of $0.66 and a 52-week high of $7.05. The firm has a market capitalization of $1.54 billion, a PE ratio of -2.82 and a beta of 2.11.

Eos Energy Enterprises (NASDAQ:EOSE - Get Free Report) last released its earnings results on Tuesday, May 6th. The company reported ($0.20) EPS for the quarter, missing analysts' consensus estimates of ($0.19) by ($0.01). The company had revenue of $10.46 million for the quarter, compared to the consensus estimate of $11.77 million. As a group, equities research analysts predict that Eos Energy Enterprises, Inc. will post -2.54 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on EOSE shares. Roth Mkm downgraded Eos Energy Enterprises from a "buy" rating to a "neutral" rating and increased their target price for the company from $4.00 to $5.00 in a report on Thursday, February 20th. Guggenheim reiterated a "buy" rating and set a $7.00 price target on shares of Eos Energy Enterprises in a research note on Tuesday, March 18th. Roth Capital cut Eos Energy Enterprises from a "strong-buy" rating to a "hold" rating in a report on Thursday, February 20th. Finally, Cowen reissued a "hold" rating on shares of Eos Energy Enterprises in a report on Friday, March 7th. Five analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price of $4.70.

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.