Brokerages Set Eos Energy Enterprises, Inc. (NASDAQ:EOSE) Price Target at $3.67

Shares of Eos Energy Enterprises, Inc. (NASDAQ:EOSE) have been assigned an average rating of “Moderate Buy” from the seven analysts that are covering the company, Marketbeat reports. Two analysts have rated the stock with a hold recommendation and five have issued a buy recommendation on the company. The average 12-month price target among brokerages that have updated their coverage on the stock in the last year is $3.67.

Several brokerages have recently weighed in on EOSE. Stifel Nicolaus reissued a “buy” rating and set a $6.00 target price on shares of Eos Energy Enterprises in a research report on Wednesday, August 21st. Roth Mkm reissued a “buy” rating and issued a $4.50 price target on shares of Eos Energy Enterprises in a research report on Friday, June 28th. Finally, B. Riley raised Eos Energy Enterprises to a “hold” rating in a report on Tuesday, June 25th.

Insiders Place Their Bets

In other Eos Energy Enterprises news, CEO Joe Mastrangelo bought 52,800 shares of Eos Energy Enterprises stock in a transaction dated Friday, August 9th. The stock was acquired at an average cost of $1.43 per share, with a total value of $75,504.00. Following the completion of the acquisition, the chief executive officer now owns 909,793 shares of the company’s stock, valued at approximately $1,301,003.99. This represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, Director Jeffrey S. Bornstein sold 30,000 shares of Eos Energy Enterprises stock in a transaction on Thursday, September 12th. The shares were 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. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Joe Mastrangelo acquired 52,800 shares of the business’s stock in a transaction on Friday, August 9th. The shares were purchased at an average price of $1.43 per share, with a total value of $75,504.00. Following the transaction, the chief executive officer now owns 909,793 shares in the company, valued at $1,301,003.99. The trade was a 0.00 % increase in their position. The disclosure for this purchase can be found here. 4.06% of the stock is currently owned by insiders.

Institutional Trading of Eos Energy Enterprises

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Price T Rowe Associates Inc. MD raised its holdings in Eos Energy Enterprises by 74.4% during the first quarter. Price T Rowe Associates Inc. MD now owns 43,930 shares of the company’s stock worth $46,000 after purchasing an additional 18,735 shares in the last quarter. Cullen Frost Bankers Inc. increased its position in Eos Energy Enterprises by 40.0% during the 2nd quarter. Cullen Frost Bankers Inc. now owns 70,000 shares of the company’s stock worth $89,000 after purchasing an additional 20,000 shares during the period. Duncan Williams Asset Management LLC purchased a new position in shares of Eos Energy Enterprises during the 3rd quarter worth approximately $62,000. American International Group Inc. lifted its holdings in shares of Eos Energy Enterprises by 41.2% in the 1st quarter. American International Group Inc. now owns 75,555 shares of the company’s stock valued at $78,000 after buying an additional 22,056 shares during the period. Finally, Powell Investment Advisors LLC lifted its holdings in shares of Eos Energy Enterprises by 52.2% in the 1st quarter. Powell Investment Advisors LLC now owns 70,000 shares of the company’s stock valued at $72,000 after buying an additional 24,000 shares during the period. Hedge funds and other institutional investors own 54.87% of the company’s stock.

Eos Energy Enterprises Trading Up 6.3 %

Shares of EOSE opened at $3.36 on Wednesday. The firm has a market capitalization of $699.31 million, a price-to-earnings ratio of -2.15 and a beta of 2.40. The firm’s fifty day simple moving average is $2.47 and its 200-day simple moving average is $1.60. Eos Energy Enterprises has a twelve month low of $0.61 and a twelve month high of $3.36.

Eos Energy Enterprises (NASDAQ:EOSE) last posted its earnings results on Tuesday, August 6th. The company reported ($0.30) EPS for the quarter, missing the consensus estimate of ($0.19) by ($0.11). The company had revenue of $0.90 million during the quarter, compared to analysts’ expectations of $4.38 million. On average, analysts predict that Eos Energy Enterprises will post -0.78 earnings per share for the current fiscal year.

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.