Analysts Set Eos Energy Enterprises, Inc. (NASDAQ:EOSE) Target Price at $3.90

Shares of Eos Energy Enterprises, Inc. (NASDAQ:EOSE) have been given an average rating of “Moderate Buy” by the seven research firms that are presently covering the company, Marketbeat Ratings reports. Two research analysts have rated the stock with a hold rating and five have given a buy rating to the company. The average 12-month price objective among brokerages that have covered the stock in the last year is $3.90.

A number of equities research analysts have recently issued reports on the stock. Stifel Nicolaus reissued a “buy” rating and set a $6.00 price objective on shares of Eos Energy Enterprises in a research report on Wednesday, August 21st. Roth Mkm cut their price target on Eos Energy Enterprises from $4.50 to $4.00 and set a “buy” rating for the company in a report on Thursday, November 7th.

Eos Energy Enterprises Trading Up 9.3 %

Shares of NASDAQ EOSE opened at $2.95 on Thursday. Eos Energy Enterprises has a 12-month low of $0.61 and a 12-month high of $3.66. The firm has a market capitalization of $642.83 million, a price-to-earnings ratio of -1.22 and a beta of 2.38. The firm has a 50 day moving average of $2.87 and a 200 day moving average of $2.07.

Insider Transactions at Eos Energy Enterprises

In other news, Director Jeffrey S. Bornstein sold 30,000 shares of the business’s stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $2.62, for a total value of $78,600.00. Following the transaction, the director now directly owns 84,929 shares in the company, valued at $222,513.98. The trade was a 26.10 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 3.80% of the company’s stock.

Institutional Trading of Eos Energy Enterprises

Several institutional investors and hedge funds have recently added to or reduced their stakes in EOSE. Millennium Management LLC boosted its stake in Eos Energy Enterprises by 5,744.5% in the 2nd quarter. Millennium Management LLC now owns 3,164,017 shares of the company’s stock worth $4,018,000 after purchasing an additional 3,109,880 shares during the period. Vanguard Group Inc. lifted its holdings in shares of Eos Energy Enterprises by 6.6% in the first quarter. Vanguard Group Inc. now owns 9,375,916 shares of the company’s stock worth $9,657,000 after buying an additional 580,022 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. purchased a new position in Eos Energy Enterprises during the second quarter valued at $216,000. B. Riley Wealth Advisors Inc. increased its holdings in Eos Energy Enterprises by 940.6% in the 1st quarter. B. Riley Wealth Advisors Inc. now owns 275,765 shares of the company’s stock valued at $284,000 after acquiring an additional 249,265 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD increased its holdings in Eos Energy Enterprises by 74.4% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 43,930 shares of the company’s stock valued at $46,000 after acquiring an additional 18,735 shares during the last quarter. Institutional investors own 54.87% of the company’s stock.

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.