Analysts Set Eos Energy Enterprises, Inc. (NASDAQ:EOSE) Price Target at $6.08

Shares of Eos Energy Enterprises, Inc. (NASDAQ:EOSE) have been given an average recommendation of “Moderate Buy” by the eight brokerages that are currently covering the firm, Marketbeat reports. Two analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The average twelve-month price objective among brokerages that have issued a report on the stock in the last year is $6.08.

Several analysts recently commented on the company. Guggenheim decreased their price target on Eos Energy Enterprises from $10.00 to $4.00 and set a “buy” rating on the stock in a research note on Thursday, March 7th. Evercore ISI cut their price objective on Eos Energy Enterprises from $12.00 to $7.00 and set an “outperform” rating for the company in a research report on Wednesday, March 6th.

Eos Energy Enterprises Trading Down 3.9 %

Shares of NASDAQ:EOSE opened at $0.74 on Wednesday. Eos Energy Enterprises has a 1-year low of $0.73 and a 1-year high of $5.67. The firm has a market capitalization of $149.96 million, a PE ratio of -0.34 and a beta of 2.23. The business’s 50 day moving average is $0.97 and its 200-day moving average is $1.19.

Eos Energy Enterprises (NASDAQ:EOSE) last announced its quarterly earnings results on Monday, March 4th. The company reported ($0.16) EPS for the quarter, beating the consensus estimate of ($0.22) by $0.06. The company had revenue of $6.61 million during the quarter. On average, sell-side analysts predict that Eos Energy Enterprises will post -0.63 EPS for the current year.

Institutional Investors Weigh In On Eos Energy Enterprises

A number of institutional investors and hedge funds have recently made changes to their positions in EOSE. Cambridge Investment Research Advisors Inc. bought a new stake in shares of Eos Energy Enterprises during the fourth quarter worth $29,000. Itau Unibanco Holding S.A. bought a new stake in shares of Eos Energy Enterprises during the second quarter worth $32,000. Exchange Traded Concepts LLC bought a new stake in shares of Eos Energy Enterprises during the third quarter worth $35,000. Bayesian Capital Management LP bought a new stake in shares of Eos Energy Enterprises during the first quarter worth $36,000. Finally, Powell Investment Advisors LLC bought a new stake in shares of Eos Energy Enterprises during the third quarter worth $39,000. 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.