Eos Energy Enterprises, Inc. (NASDAQ:EOSE) Receives Consensus Recommendation of “Hold” from Analysts

Shares of Eos Energy Enterprises, Inc. (NASDAQ:EOSE) have been assigned an average recommendation of “Hold” from the ten analysts that are covering the firm, Marketbeat.com reports. One research analyst has rated the stock with a sell recommendation, seven have assigned a hold recommendation and two have given a buy recommendation to the company. The average 12-month target price among brokers that have issued ratings on the stock in the last year is $10.9375.

A number of equities research analysts have weighed in on the company. Needham & Company LLC began coverage on Eos Energy Enterprises in a report on Friday, May 22nd. They issued a “buy” rating and a $11.00 price objective on the stock. Wall Street Zen downgraded Eos Energy Enterprises from a “hold” rating to a “sell” rating in a research note on Saturday, July 4th. TD Cowen raised their price target on Eos Energy Enterprises from $7.00 to $8.00 and gave the company a “hold” rating in a report on Thursday, May 14th. Weiss Ratings restated a “sell (d-)” rating on shares of Eos Energy Enterprises in a research note on Tuesday, April 21st. Finally, JPMorgan Chase & Co. dropped their price objective on Eos Energy Enterprises from $9.00 to $6.00 and set a “neutral” rating on the stock in a report on Thursday, April 16th.

Eos Energy Enterprises Stock Performance

Shares of Eos Energy Enterprises stock opened at $4.58 on Friday. Eos Energy Enterprises has a one year low of $4.37 and a one year high of $19.86. The company has a market cap of $1.55 billion, a P/E ratio of -0.69 and a beta of 2.68. The firm has a fifty day moving average of $6.99 and a two-hundred day moving average of $8.90.

Eos Energy Enterprises (NASDAQ:EOSE) last issued its earnings results on Wednesday, May 13th. The company reported $0.12 earnings per share for the quarter, beating the consensus estimate of ($0.22) by $0.34. The firm had revenue of $56.96 million during the quarter, compared to analysts’ expectations of $54.32 million. As a group, equities analysts predict that Eos Energy Enterprises will post -0.31 earnings per share for the current year.

Insiders Place Their Bets

In other Eos Energy Enterprises news, CAO Sumeet Puri sold 8,823 shares of Eos Energy Enterprises stock in a transaction dated Tuesday, June 30th. The shares were sold at an average price of $5.86, for a total transaction of $51,702.78. Following the completion of the transaction, the chief accounting officer owned 173,112 shares in the company, valued at approximately $1,014,436.32. The trade was a 4.85% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Marian Walters sold 7,681 shares of the company’s stock in a transaction dated Tuesday, May 19th. The shares were sold at an average price of $7.07, for a total transaction of $54,304.67. Following the completion of the sale, the director directly owned 135,334 shares in the company, valued at $956,811.38. This trade represents a 5.37% decrease in their position. The SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 157,569 shares of company stock valued at $839,328. Company insiders own 1.73% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. PNC Financial Services Group Inc. grew its holdings in Eos Energy Enterprises by 3,843.8% during the 4th quarter. PNC Financial Services Group Inc. now owns 2,524 shares of the company’s stock valued at $29,000 after buying an additional 2,460 shares during the last quarter. Towarzystwo Funduszy Inwestycyjnych PZU SA raised its holdings in shares of Eos Energy Enterprises by 58.8% in the fourth quarter. Towarzystwo Funduszy Inwestycyjnych PZU SA now owns 2,700 shares of the company’s stock worth $31,000 after acquiring an additional 1,000 shares during the last quarter. Danske Bank A S acquired a new position in shares of Eos Energy Enterprises in the fourth quarter worth $33,000. TD Waterhouse Canada Inc. lifted its position in shares of Eos Energy Enterprises by 178.7% in the fourth quarter. TD Waterhouse Canada Inc. now owns 3,119 shares of the company’s stock valued at $36,000 after acquiring an additional 2,000 shares in the last quarter. Finally, GAMMA Investing LLC lifted its position in shares of Eos Energy Enterprises by 46.4% in the fourth quarter. GAMMA Investing LLC now owns 3,270 shares of the company’s stock valued at $37,000 after acquiring an additional 1,036 shares in the last quarter. 54.87% of the stock is currently owned by institutional investors and hedge funds.

Eos Energy Enterprises Company Profile

Eos Energy Enterprises specializes in the development and deployment of scalable, long-duration energy storage systems designed to support the integration of renewable power and enhance grid reliability. The company’s core technology centers on its proprietary zinc hybrid cathode (Znyth™) battery platform, which aims to deliver safe, low-cost, and durable performance for utility, commercial and industrial, and microgrid applications.

The company’s flagship product, the Aurora™ energy storage system, combines its Znyth™ cells with modular power conversion and controls to offer flexible capacity ranging from one to three hours of discharge duration.