Guggenheim Reaffirms Buy Rating for Eos Energy Enterprises (NASDAQ:EOSE)

Eos Energy Enterprises (NASDAQ:EOSE)‘s stock had its “buy” rating reissued by Guggenheim in a research report issued to clients and investors on Tuesday,Benzinga reports. They presently have a $7.00 target price on the stock. Guggenheim’s target price would suggest a potential upside of 57.66% from the company’s previous close.

Several other brokerages have also issued reports on EOSE. Roth Mkm lowered 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 note on Thursday, February 20th. Roth Capital lowered Eos Energy Enterprises from a “strong-buy” rating to a “hold” rating in a research note on Thursday, February 20th. Finally, Cowen reissued a “hold” rating on shares of Eos Energy Enterprises in a research note on Friday, March 7th. Five investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat, Eos Energy Enterprises has an average rating of “Hold” and an average target price of $4.70.

Eos Energy Enterprises Stock Up 8.3 %

Shares of EOSE stock opened at $4.44 on Tuesday. The business has a 50-day moving average price of $4.96 and a two-hundred day moving average price of $3.83. Eos Energy Enterprises has a 12-month low of $0.61 and a 12-month high of $6.64. The firm has a market cap of $1.01 billion, a P/E ratio of -1.84 and a beta of 2.15.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. WESPAC Advisors LLC raised its position in Eos Energy Enterprises by 16.6% during the 4th quarter. WESPAC Advisors LLC now owns 12,647 shares of the company’s stock valued at $61,000 after purchasing an additional 1,798 shares during the last quarter. Wells Fargo & Company MN raised its position in Eos Energy Enterprises by 3.6% during the 4th 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. raised its position in Eos Energy Enterprises by 21.0% during the 4th quarter. Montag A & Associates Inc. now owns 13,809 shares of the company’s stock valued at $67,000 after purchasing an additional 2,400 shares during the last quarter. Parkside Financial Bank & Trust bought a new position in Eos Energy Enterprises during the 4th quarter valued at approximately $29,000. Finally, R Squared Ltd bought a new position in Eos Energy Enterprises during the 4th quarter valued at approximately $31,000. Institutional investors own 54.87% of the company’s stock.

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.