Roth Mkm Reaffirms Buy Rating for Eos Energy Enterprises (NASDAQ:EOSE)

Eos Energy Enterprises (NASDAQ:EOSE)‘s stock had its “buy” rating restated by equities research analysts at Roth Mkm in a research note issued on Friday, Benzinga reports. They currently have a $4.50 price objective on the stock. Roth Mkm’s target price suggests a potential upside of 222.58% from the company’s current price.

EOSE has been the subject of several other research reports. B. Riley upgraded Eos Energy Enterprises to a “hold” rating in a report on Tuesday. Evercore ISI cut their target price on shares of Eos Energy Enterprises from $7.00 to $3.00 and set an “outperform” rating on the stock in a research note on Thursday, May 16th. TD Cowen cut their price objective on Eos Energy Enterprises from $3.00 to $2.50 and set a “hold” rating on the stock in a research report on Thursday, May 16th. Guggenheim reduced their target price on Eos Energy Enterprises from $10.00 to $4.00 and set a “buy” rating on the stock in a report on Thursday, March 7th. Finally, Stifel Nicolaus restated a “buy” rating and set a $13.00 price target on shares of Eos Energy Enterprises in a research report on Wednesday, May 15th. Two research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $4.83.

Eos Energy Enterprises Stock Performance

EOSE stock traded up $0.04 during trading on Friday, hitting $1.40. 1,619,307 shares of the company traded hands, compared to its average volume of 6,010,926. The company has a 50-day moving average of $0.79 and a 200-day moving average of $0.95. The firm has a market capitalization of $290.34 million, a PE ratio of -0.89 and a beta of 2.24. Eos Energy Enterprises has a 1 year low of $0.61 and a 1 year high of $5.67.

Eos Energy Enterprises (NASDAQ:EOSE) last issued its earnings results on Tuesday, May 14th. The company reported ($0.23) EPS for the quarter, topping the consensus estimate of ($0.24) by $0.01. The firm had revenue of $6.60 million during the quarter, compared to analysts’ expectations of $6.57 million. Sell-side analysts expect that Eos Energy Enterprises will post -0.7 EPS for the current year.

Hedge Funds Weigh In On Eos Energy Enterprises

Several large investors have recently modified their holdings of the stock. Price T Rowe Associates Inc. MD raised its holdings in Eos Energy Enterprises by 74.4% in the first quarter. Price T Rowe Associates Inc. MD now owns 43,930 shares of the company’s stock worth $46,000 after buying an additional 18,735 shares during the last quarter. American International Group Inc. raised its stake in shares of Eos Energy Enterprises by 41.2% in the first quarter. American International Group Inc. now owns 75,555 shares of the company’s stock worth $78,000 after purchasing an additional 22,056 shares during the last quarter. Powell Investment Advisors LLC lifted its holdings in shares of Eos Energy Enterprises by 52.2% during the first quarter. Powell Investment Advisors LLC now owns 70,000 shares of the company’s stock valued at $72,000 after purchasing an additional 24,000 shares in the last quarter. Black Maple Capital Management LP boosted its position in shares of Eos Energy Enterprises by 19.8% during the first quarter. Black Maple Capital Management LP now owns 181,248 shares of the company’s stock valued at $187,000 after buying an additional 30,000 shares during the last quarter. Finally, Elevatus Welath Management increased its holdings in Eos Energy Enterprises by 50.0% in the 1st quarter. Elevatus Welath Management now owns 96,267 shares of the company’s stock worth $99,000 after buying an additional 32,090 shares in the last quarter. Hedge funds and other institutional investors 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.