DnB Asset Management AS Acquires 14,494 Shares of Eos Energy Enterprises, Inc. (NASDAQ:EOSE)

DnB Asset Management AS raised its stake in shares of Eos Energy Enterprises, Inc. (NASDAQ:EOSE) by 2.4% in the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 629,141 shares of the company’s stock after purchasing an additional 14,494 shares during the period. DnB Asset Management AS owned approximately 0.29% of Eos Energy Enterprises worth $3,058,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. FMR LLC boosted its position in shares of Eos Energy Enterprises by 67.8% during the third quarter. FMR LLC now owns 58,651 shares of the company’s stock valued at $174,000 after buying an additional 23,706 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund purchased a new position in Eos Energy Enterprises during the 3rd quarter worth $741,000. Walleye Capital LLC bought a new stake in shares of Eos Energy Enterprises in the 3rd quarter worth $48,000. State Street Corp raised its holdings in shares of Eos Energy Enterprises by 9.5% in the third quarter. State Street Corp now owns 875,439 shares of the company’s stock valued at $2,600,000 after purchasing an additional 75,657 shares during the last quarter. Finally, Geode Capital Management LLC lifted its position in shares of Eos Energy Enterprises by 18.0% during the third quarter. Geode Capital Management LLC now owns 2,468,648 shares of the company’s stock valued at $7,335,000 after purchasing an additional 376,494 shares in the last quarter. 54.87% of the stock is owned by institutional investors.

Eos Energy Enterprises Trading Down 4.1 %

Eos Energy Enterprises stock opened at $3.78 on Tuesday. The business’s 50 day simple moving average is $4.77 and its 200 day simple moving average is $3.93. Eos Energy Enterprises, Inc. has a 12 month low of $0.61 and a 12 month high of $6.64. The company has a market cap of $856.54 million, a price-to-earnings ratio of -1.57 and a beta of 2.15.

Analysts Set New Price Targets

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

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.