Eos Energy Enterprises Stock Surges 8% Today - Here’s Why the Energy Storage Play Is Heating Up
Another day, another energy stock making waves while traditional finance guys scratch their heads.
Eos Energy Enterprises just ripped an 8% gain today - because apparently storing energy is suddenly more exciting than burning it. The market's finally catching on that grid-scale battery systems might be useful in, you know, keeping the lights on.
No specific catalyst? No problem. When you're playing the long-game energy transition, sometimes the market just wakes up and decides today's the day. Probably some hedge fund analyst finally read the whitepaper.
Meanwhile, Wall Street remains confused about anything that doesn't involve quarterly dividends or fossil fuels. Energy storage doesn't fit neatly into their spreadsheets - too much future, not enough past.
Another reminder that sometimes the market prices in tomorrow's value today. Even if it takes everyone else until tomorrow to figure out why.
Well energized
Before market open,'s Stephen Gengaro pulled the lever on that fair-value assessment bump. He raised his EOS Price target to an even $10 per share, up from his previous $8.50. He maintained his buy recommendation on the shares.
Image source: Getty Images.
According to reports, Gengaro felt compelled to make the MOVE following a visit to an Eos factory.
Based on this, he concluded that the company's assembly line -- which he believes is cutting-edge for the energy storage segment that it's a part of -- seems to be operating efficiently, and overall Eos is making progress building out the factory. The analyst also said that the company should be able to increase its capacity, and not coincidentally draw more revenue.
Bulls and bears
Gengaro isn't the only Eos tracker to bump his EOS price target higher. Earlier in September, Guggenheim's Joseph Osha did the same, increasing his level by 33% to $10 per share (the same as Gengaro's). Again, like his Stifel peer, Osha kept his buy recommendation intact.
