Eos Energy Enterprises, Inc. (NASDAQ:EOSE) Receives $22.75 Consensus Price Target from Analysts

Shares of Eos Energy Enterprises, Inc. (NASDAQ:EOSE) have been assigned an average rating of “Buy” from the six research firms that are covering the company, MarketBeat.com reports. One analyst has rated the stock with a sell recommendation and five have assigned a buy recommendation to the company. The average 12 month price target among brokerages that have issued a report on the stock in the last year is $22.75.

A number of analysts recently commented on EOSE shares. Johnson Rice began coverage on Eos Energy Enterprises in a report on Thursday, September 16th. They set a “buy” rating and a $20.00 price target on the stock. Zacks Investment Research cut Eos Energy Enterprises from a “hold” rating to a “sell” rating in a research note on Monday, August 16th. Seaport Global Securities assumed coverage on shares of Eos Energy Enterprises in a report on Thursday, July 15th. They set a “buy” rating and a $27.00 target price on the stock. Northland Securities decreased their price objective on Eos Energy Enterprises from $27.00 to $20.00 and set an “outperform” rating on the stock in a research note on Thursday, August 12th. Finally, B. Riley lifted their target price on Eos Energy Enterprises from $21.00 to $24.00 and gave the company a “buy” rating in a report on Friday, October 8th.

Shares of NASDAQ EOSE opened at $12.63 on Monday. Eos Energy Enterprises has a 1-year low of $9.94 and a 1-year high of $31.95. The firm’s 50-day moving average price is $13.31 and its 200-day moving average price is $15.41. The company has a current ratio of 3.73, a quick ratio of 3.55 and a debt-to-equity ratio of 0.20.

Eos Energy Enterprises (NASDAQ:EOSE) last posted its earnings results on Wednesday, August 11th. The company reported ($0.46) EPS for the quarter, missing the consensus estimate of ($0.17) by ($0.29). The firm had revenue of $0.61 million for the quarter, compared to the consensus estimate of $2.84 million. On average, analysts predict that Eos Energy Enterprises will post -1.8 earnings per share for the current fiscal year.

In related news, major shareholder B. Riley Financial, Inc. sold 25,371 shares of the stock in a transaction on Thursday, September 9th. The stock was sold at an average price of $13.41, for a total value of $340,225.11. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders sold 557,635 shares of company stock valued at $7,725,095 over the last quarter. 15.10% of the stock is owned by company insiders.

Institutional investors have recently made changes to their positions in the company. Legal & General Group Plc bought a new position in Eos Energy Enterprises during the 2nd quarter worth approximately $38,224,000. Spring Creek Capital LLC bought a new stake in Eos Energy Enterprises during the 1st quarter valued at approximately $41,466,000. State Street Corp grew its stake in Eos Energy Enterprises by 3,949.4% in the second quarter. State Street Corp now owns 943,513 shares of the company’s stock worth $16,945,000 after purchasing an additional 920,213 shares during the period. Barings LLC bought a new position in shares of Eos Energy Enterprises in the 2nd quarter worth about $14,737,000. Finally, BlackRock Inc. bought a new position in shares of Eos Energy Enterprises during the first quarter valued at approximately $13,651,000. 46.45% of the stock is owned by institutional investors.

About Eos Energy Enterprises

Eos Energy Enterprises, Inc designs, manufactures, and deploys battery storage solutions for utility, commercial and industrial, and renewable energy markets in the United States. The company offers stationary battery storage solutions. Its flagship product is the Eos Znyth DC battery system designed to meet the requirements of the grid-scale energy storage market.

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Analyst Recommendations for Eos Energy Enterprises (NASDAQ:EOSE)

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