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

Shares of Eos Energy Enterprises, Inc. (NASDAQ:EOSE) have earned a consensus recommendation of “Moderate Buy” from the eight brokerages that are covering the firm, Marketbeat Ratings reports. Two equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The average 1-year target price among brokerages that have updated their coverage on the stock in the last year is $6.08.

Several equities analysts have recently weighed in on the stock. Evercore ISI dropped their price objective on shares of Eos Energy Enterprises from $12.00 to $7.00 and set an “outperform” rating on the stock in a report on Wednesday, March 6th. Guggenheim dropped their price objective on shares of Eos Energy Enterprises from $10.00 to $4.00 and set a “buy” rating on the stock in a report on Thursday, March 7th.

Eos Energy Enterprises Trading Down 3.9 %

Shares of NASDAQ EOSE opened at $0.74 on Wednesday. The firm’s 50-day moving average price is $0.97 and its 200-day moving average price is $1.19. 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 P/E ratio of -0.34 and a beta of 2.23.

Eos Energy Enterprises (NASDAQ:EOSE) last announced its quarterly earnings data on Monday, March 4th. The company reported ($0.16) earnings per share for the quarter, beating the consensus estimate of ($0.22) by $0.06. The company had revenue of $6.61 million for the quarter. Equities research analysts forecast that Eos Energy Enterprises will post -0.63 EPS for the current year.

Institutional Investors Weigh In On Eos Energy Enterprises

Institutional investors and hedge funds have recently made changes to their positions in the business. Cambridge Investment Research Advisors Inc. acquired a new stake in shares of Eos Energy Enterprises in the 4th quarter worth about $29,000. Itau Unibanco Holding S.A. purchased a new stake in Eos Energy Enterprises in the 2nd quarter valued at about $32,000. Exchange Traded Concepts LLC purchased a new stake in Eos Energy Enterprises in the 3rd quarter valued at about $35,000. Bayesian Capital Management LP purchased a new stake in Eos Energy Enterprises in the 1st quarter valued at about $36,000. Finally, Powell Investment Advisors LLC purchased a new stake in Eos Energy Enterprises in the 3rd quarter valued at about $39,000. Institutional investors and hedge funds 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.