Bank of New York Mellon Corp Increases Holdings in Eos Energy Enterprises, Inc. (NASDAQ:EOSE)

Bank of New York Mellon Corp grew its position in shares of Eos Energy Enterprises, Inc. (NASDAQ:EOSE) by 154.9% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 48,374 shares of the company’s stock after acquiring an additional 29,393 shares during the quarter. Bank of New York Mellon Corp’s holdings in Eos Energy Enterprises were worth $235,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently modified their holdings of EOSE. R Squared Ltd purchased a new stake in Eos Energy Enterprises during the fourth quarter valued at $31,000. Walleye Capital LLC bought a new stake in shares of Eos Energy Enterprises during the 3rd quarter valued at about $48,000. Lake Street Private Wealth LLC purchased a new stake in shares of Eos Energy Enterprises during the 4th quarter valued at about $51,000. Harel Insurance Investments & Financial Services Ltd. bought a new position in shares of Eos Energy Enterprises in the 4th quarter worth approximately $58,000. Finally, WESPAC Advisors LLC boosted its holdings in shares of Eos Energy Enterprises by 16.6% in the fourth quarter. WESPAC Advisors LLC now owns 12,647 shares of the company’s stock worth $61,000 after buying an additional 1,798 shares during the last quarter. 54.87% of the stock is currently owned by hedge funds and other institutional investors.

Eos Energy Enterprises Price Performance

Shares of EOSE stock opened at $3.94 on Friday. Eos Energy Enterprises, Inc. has a one year low of $0.61 and a one year high of $6.64. The company’s fifty day moving average price is $4.81 and its 200-day moving average price is $3.92. The company has a market capitalization of $892.80 million, a price-to-earnings ratio of -1.63 and a beta of 2.15.

Wall Street Analysts Forecast Growth

A number of analysts have commented on EOSE shares. Roth Mkm cut shares of Eos Energy Enterprises from a “buy” rating to a “neutral” rating and upped their target price for the company from $4.00 to $5.00 in a report on Thursday, February 20th. Guggenheim restated a “buy” rating and issued a $7.00 price objective on shares of Eos Energy Enterprises in a research note on Tuesday, March 18th. Cowen reaffirmed a “hold” rating on shares of Eos Energy Enterprises in a report on Friday, March 7th. Finally, Roth Capital lowered Eos Energy Enterprises from a “strong-buy” rating to a “hold” rating in a report on Thursday, February 20th. Five equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat, Eos Energy Enterprises has an average rating of “Hold” and a consensus target price of $4.70.

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.