Meridian Wealth Management LLC Grows Position in Eos Energy Enterprises, Inc. (NASDAQ:EOSE)

Meridian Wealth Management LLC lifted its holdings in shares of Eos Energy Enterprises, Inc. (NASDAQ:EOSE) by 27.2% in the fourth quarter, HoldingsChannel.com reports. The firm owned 99,800 shares of the company’s stock after acquiring an additional 21,350 shares during the quarter. Meridian Wealth Management LLC’s holdings in Eos Energy Enterprises were worth $485,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Hollencrest Capital Management lifted its stake in Eos Energy Enterprises by 1,000.0% during the 3rd quarter. Hollencrest Capital Management now owns 8,250 shares of the company’s stock worth $25,000 after acquiring an additional 7,500 shares in the last quarter. Parkside Financial Bank & Trust acquired a new position in Eos Energy Enterprises during the 4th quarter worth about $29,000. R Squared Ltd acquired a new position in Eos Energy Enterprises during the 4th quarter worth about $31,000. WESPAC Advisors LLC acquired a new position in Eos Energy Enterprises during the 3rd quarter worth about $32,000. Finally, Focused Wealth Management Inc acquired a new position in Eos Energy Enterprises during the 3rd quarter worth about $46,000. 54.87% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the company. Roth Capital lowered Eos Energy Enterprises from a “strong-buy” rating to a “hold” rating in a research note on Thursday, February 20th. Roth Mkm lowered Eos Energy Enterprises from a “buy” rating to a “neutral” rating and increased their price target for the company from $4.00 to $5.00 in a research report on Thursday, February 20th. Four equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $4.10.

Eos Energy Enterprises Stock Performance

Shares of NASDAQ EOSE opened at $4.97 on Thursday. Eos Energy Enterprises, Inc. has a fifty-two week low of $0.61 and a fifty-two week high of $6.64. The firm has a market capitalization of $1.08 billion, a PE ratio of -2.06 and a beta of 2.15. The stock’s 50-day simple moving average is $5.18 and its 200-day simple moving average is $3.70.

Eos Energy Enterprises 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.