Brokerages Set Eos Energy Enterprises, Inc. (NASDAQ:EOSE) PT at $13.50

Eos Energy Enterprises, Inc. (NASDAQ:EOSE) has been given an average rating of “Hold” by the nine ratings firms that are currently covering the firm, Marketbeat.com reports. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and two have given a buy rating to the company. The average 12-month target price among brokers that have updated their coverage on the stock in the last year is $13.50.

A number of brokerages recently issued reports on EOSE. Zacks Research upgraded Eos Energy Enterprises from a “strong sell” rating to a “hold” rating in a report on Monday, January 12th. Guggenheim increased their price target on Eos Energy Enterprises from $10.00 to $20.00 and gave the company a “buy” rating in a research report on Wednesday, October 22nd. Stifel Nicolaus lifted their price objective on shares of Eos Energy Enterprises from $10.00 to $22.00 and gave the stock a “buy” rating in a research report on Wednesday, October 15th. JPMorgan Chase & Co. initiated coverage on Eos Energy Enterprises in a research report on Wednesday, December 17th. They set a “neutral” rating and a $16.00 price objective for the company. Finally, Roth Mkm set a $12.00 target price on Eos Energy Enterprises and gave the company a “neutral” rating in a report on Wednesday, October 22nd.

Eos Energy Enterprises Stock Performance

Eos Energy Enterprises stock opened at $13.24 on Thursday. The firm has a market cap of $3.82 billion, a price-to-earnings ratio of -1.58 and a beta of 2.13. Eos Energy Enterprises has a 1 year low of $3.07 and a 1 year high of $19.86. The firm’s 50 day moving average price is $14.34 and its two-hundred day moving average price is $12.14.

Insider Activity at Eos Energy Enterprises

In related news, Director Marian Walters sold 50,000 shares of the stock in a transaction on Thursday, December 4th. The stock was sold at an average price of $15.81, for a total transaction of $790,500.00. Following the completion of the sale, the director directly owned 135,334 shares in the company, valued at approximately $2,139,630.54. This trade represents a 26.98% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Michael W. Silberman sold 41,667 shares of Eos Energy Enterprises stock in a transaction on Friday, January 23rd. The shares were sold at an average price of $17.74, for a total value of $739,172.58. Following the sale, the insider directly owned 283,279 shares of the company’s stock, valued at approximately $5,025,369.46. The trade was a 12.82% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 907,801 shares of company stock worth $13,803,507 in the last 90 days. 3.30% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the company. Fiduciary Planning LLC bought a new position in shares of Eos Energy Enterprises in the second quarter valued at approximately $236,000. L.K. Benson & Company P.C. bought a new stake in shares of Eos Energy Enterprises during the 3rd quarter worth $887,000. Hsbc Holdings PLC grew its stake in Eos Energy Enterprises by 192.9% in the 2nd quarter. Hsbc Holdings PLC now owns 129,626 shares of the company’s stock valued at $665,000 after buying an additional 85,371 shares during the last quarter. Concurrent Investment Advisors LLC bought a new position in Eos Energy Enterprises in the 2nd quarter worth $548,000. Finally, VIRGINIA RETIREMENT SYSTEMS ET Al bought a new position in Eos Energy Enterprises in the 2nd quarter worth $257,000. 54.87% of the stock is owned by institutional investors and hedge funds.

About Eos Energy Enterprises

Eos Energy Enterprises specializes in the development and deployment of scalable, long-duration energy storage systems designed to support the integration of renewable power and enhance grid reliability. The company’s core technology centers on its proprietary zinc hybrid cathode (Znyth™) battery platform, which aims to deliver safe, low-cost, and durable performance for utility, commercial and industrial, and microgrid applications.

The company’s flagship product, the Aurora™ energy storage system, combines its Znyth™ cells with modular power conversion and controls to offer flexible capacity ranging from one to three hours of discharge duration.