Short Interest in Eos Energy Enterprises, Inc. (NASDAQ:EOSE) Rises By 5.4%

Eos Energy Enterprises, Inc. (NASDAQ:EOSE) saw a significant growth in short interest during the month of April. As of April 15th, there was short interest totalling 46,930,000 shares, a growth of 5.4% from the March 31st total of 44,510,000 shares. Based on an average daily volume of 5,020,000 shares, the days-to-cover ratio is currently 9.3 days.

Eos Energy Enterprises Price Performance

Shares of NASDAQ:EOSE opened at $0.66 on Thursday. The company has a market capitalization of $132.74 million, a P/E ratio of -0.30 and a beta of 2.23. Eos Energy Enterprises has a 1 year low of $0.64 and a 1 year high of $5.67. The business’s 50 day simple moving average is $0.94 and its 200 day simple moving average is $1.11.

Eos Energy Enterprises (NASDAQ:EOSE) last issued its quarterly earnings results on Monday, March 4th. The company reported ($0.16) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.22) by $0.06. The company had revenue of $6.61 million for the quarter. On average, sell-side analysts anticipate that Eos Energy Enterprises will post -0.81 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

EOSE has been the topic of several research reports. Guggenheim decreased their target price on Eos Energy Enterprises from $10.00 to $4.00 and set a “buy” rating on the stock in a research report on Thursday, March 7th. Evercore ISI decreased their target price on Eos Energy Enterprises from $12.00 to $7.00 and set an “outperform” rating on the stock in a research report on Wednesday, March 6th. Two analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, Eos Energy Enterprises has an average rating of “Moderate Buy” and an average price target of $6.08.

Institutional Investors Weigh In On Eos Energy Enterprises

Large investors have recently added to or reduced their stakes in the stock. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. lifted its stake in Eos Energy Enterprises by 3.5% during the third quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 287,779 shares of the company’s stock worth $619,000 after purchasing an additional 9,616 shares during the last quarter. Exchange Traded Concepts LLC bought a new stake in Eos Energy Enterprises during the third quarter worth $35,000. Healthcare of Ontario Pension Plan Trust Fund lifted its stake in Eos Energy Enterprises by 22.0% during the third quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 113,939 shares of the company’s stock worth $245,000 after purchasing an additional 20,543 shares during the last quarter. Powell Investment Advisors LLC lifted its stake in Eos Energy Enterprises by 52.2% during the first quarter. Powell Investment Advisors LLC now owns 70,000 shares of the company’s stock worth $72,000 after purchasing an additional 24,000 shares during the last quarter. Finally, Twin Focus Capital Partners LLC bought a new stake in Eos Energy Enterprises during the third quarter worth $54,000. Institutional investors and hedge funds 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.