Eos Energy Enterprises, Inc. (NASDAQ:EOSE) Receives $3.90 Consensus Target Price from Analysts

Shares of Eos Energy Enterprises, Inc. (NASDAQ:EOSE) have earned an average rating of “Moderate Buy” from the six analysts that are covering the firm, MarketBeat Ratings reports. Two research analysts have rated the stock with a hold rating and four have issued a buy rating on the company. The average twelve-month price objective among analysts that have updated their coverage on the stock in the last year is $3.90.

Separately, Roth Mkm decreased their target price on shares of Eos Energy Enterprises from $4.50 to $4.00 and set a “buy” rating for the company in a research report on Thursday, November 7th.

Hedge Funds Weigh In On Eos Energy Enterprises

Hedge funds and other institutional investors have recently modified their holdings of the stock. Millennium Management LLC increased its stake in Eos Energy Enterprises by 5,744.5% during the 2nd quarter. Millennium Management LLC now owns 3,164,017 shares of the company’s stock valued at $4,018,000 after purchasing an additional 3,109,880 shares in the last quarter. NewEdge Advisors LLC grew its holdings in shares of Eos Energy Enterprises by 30.2% during the second quarter. NewEdge Advisors LLC now owns 2,588,823 shares of the company’s stock valued at $3,288,000 after buying an additional 600,143 shares during the last quarter. Geode Capital Management LLC increased its position in shares of 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 valued at $7,335,000 after acquiring an additional 376,494 shares during the period. Brightline Capital Management LLC purchased a new position in Eos Energy Enterprises in the 3rd quarter worth $4,871,000. Finally, State Street Corp raised its stake in Eos Energy Enterprises by 9.5% in the 3rd quarter. State Street Corp now owns 875,439 shares of the company’s stock worth $2,600,000 after acquiring an additional 75,657 shares during the last quarter. 54.87% of the stock is owned by hedge funds and other institutional investors.

Eos Energy Enterprises Stock Performance

EOSE stock opened at $5.17 on Monday. Eos Energy Enterprises has a one year low of $0.61 and a one year high of $5.42. The firm has a market cap of $1.13 billion, a price-to-earnings ratio of -2.15 and a beta of 2.31. The firm has a 50-day simple moving average of $3.20 and a two-hundred day simple moving average of $2.51.

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.