Research Analysts Issue Forecasts for Eos Energy Enterprises, Inc.’s Q1 2024 Earnings (NASDAQ:EOSE)

Eos Energy Enterprises, Inc. (NASDAQ:EOSE) – Equities researchers at B. Riley dropped their Q1 2024 EPS estimates for shares of Eos Energy Enterprises in a note issued to investors on Monday, April 22nd. B. Riley analyst C. Souther now expects that the company will post earnings per share of ($0.31) for the quarter, down from their prior forecast of ($0.19). The consensus estimate for Eos Energy Enterprises’ current full-year earnings is ($0.74) per share. B. Riley also issued estimates for Eos Energy Enterprises’ Q2 2024 earnings at ($0.29) EPS, Q3 2024 earnings at ($0.30) EPS, Q4 2024 earnings at ($0.19) EPS, FY2024 earnings at ($1.09) EPS, FY2025 earnings at ($0.58) EPS and FY2026 earnings at $0.30 EPS.

Other research analysts have also issued research reports about the company. 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. 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. Two research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, Eos Energy Enterprises has a consensus rating of “Moderate Buy” and an average target price of $6.08.

Eos Energy Enterprises Price Performance

Shares of NASDAQ:EOSE opened at $0.75 on Wednesday. Eos Energy Enterprises has a 1 year low of $0.70 and a 1 year high of $5.67. The firm has a market capitalization of $151.60 million, a price-to-earnings ratio of -0.35 and a beta of 2.23. The business’s 50 day moving average price is $0.95 and its 200-day moving average price is $1.15.

Eos Energy Enterprises (NASDAQ:EOSE) last announced its earnings results on Monday, March 4th. The company reported ($0.16) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.22) by $0.06. The business had revenue of $6.61 million for the quarter.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in EOSE. Electron Capital Partners LLC lifted its holdings in Eos Energy Enterprises by 226.6% in the 4th quarter. Electron Capital Partners LLC now owns 6,958,125 shares of the company’s stock valued at $7,584,000 after purchasing an additional 4,827,586 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its holdings in Eos Energy Enterprises by 24.7% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,258,058 shares of the company’s stock valued at $4,641,000 after purchasing an additional 843,918 shares in the last quarter. Stifel Financial Corp raised its holdings in shares of Eos Energy Enterprises by 503.7% during the 3rd quarter. Stifel Financial Corp now owns 930,205 shares of the company’s stock worth $2,000,000 after acquiring an additional 776,110 shares during the period. Invesco Ltd. raised its holdings in shares of Eos Energy Enterprises by 23.6% during the 3rd quarter. Invesco Ltd. now owns 3,128,582 shares of the company’s stock worth $6,726,000 after acquiring an additional 597,279 shares during the period. Finally, Alps Advisors Inc. purchased a new position in shares of Eos Energy Enterprises during the 3rd quarter worth $1,109,000. 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.