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

Eos Energy Enterprises, Inc. (NASDAQ:EOSE) has been given an average recommendation of “Hold” by the eleven ratings firms that are presently covering the stock, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell rating, seven have given a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company. The average twelve-month target price among analysts that have covered the stock in the last year is $8.0556.

Several research analysts have recently weighed in on EOSE shares. Stifel Nicolaus dropped their target price on shares of Eos Energy Enterprises from $10.00 to $9.00 and set a “buy” rating on the stock in a research report on Thursday, August 6th. Weiss Ratings restated a “sell (d-)” rating on shares of Eos Energy Enterprises in a research report on Friday, July 17th. Roth Capital set a $4.00 price objective on shares of Eos Energy Enterprises in a research note on Thursday, August 6th. TD Cowen lowered their price objective on shares of Eos Energy Enterprises from $8.00 to $4.00 and set a “hold” rating on the stock in a research report on Thursday, August 6th. Finally, Needham & Company LLC initiated coverage on shares of Eos Energy Enterprises in a research note on Friday, May 22nd. They set a “buy” rating and a $11.00 target price on the stock.

Eos Energy Enterprises Stock Performance

Shares of EOSE opened at $3.81 on Monday. The business’s 50-day moving average price is $4.72 and its 200 day moving average price is $6.55. The stock has a market capitalization of $1.39 billion, a P/E ratio of -0.56 and a beta of 2.75. Eos Energy Enterprises has a 1-year low of $3.11 and a 1-year high of $19.86.

Eos Energy Enterprises (NASDAQ:EOSE) last posted its quarterly earnings data on Wednesday, August 5th. The company reported ($1.20) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.19) by ($1.01). The business had revenue of $68.78 million during the quarter, compared to analysts’ expectations of $68.32 million. During the same quarter in the previous year, the firm posted ($1.05) EPS. On average, research analysts predict that Eos Energy Enterprises will post -0.91 earnings per share for the current year.

Insider Buying and Selling at Eos Energy Enterprises

In related news, CEO Joe Mastrangelo sold 159,154 shares of the stock in a transaction dated Monday, July 27th. The stock was sold at an average price of $3.61, for a total value of $574,545.94. Following the completion of the sale, the chief executive officer directly owned 1,947,586 shares of the company’s stock, valued at approximately $7,030,785.46. This represents a 7.55% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Nathan Kroeker sold 110,417 shares of Eos Energy Enterprises stock in a transaction dated Tuesday, July 28th. The shares were sold at an average price of $3.36, for a total value of $371,001.12. Following the transaction, the insider directly owned 887,527 shares in the company, valued at approximately $2,982,090.72. This trade represents a 11.06% decrease in their position. The SEC filing for this sale provides additional information. 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. Insiders have sold a total of 448,626 shares of company stock valued at $1,828,572 in the last ninety days. Company insiders own 1.73% of the company’s stock.

Hedge Funds Weigh In On Eos Energy Enterprises

Several institutional investors and hedge funds have recently modified their holdings of the stock. PNC Financial Services Group Inc. raised its holdings in shares of Eos Energy Enterprises by 3,843.8% during the fourth quarter. PNC Financial Services Group Inc. now owns 2,524 shares of the company’s stock worth $29,000 after acquiring an additional 2,460 shares in the last quarter. Towarzystwo Funduszy Inwestycyjnych PZU SA grew its stake in 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 valued at $31,000 after purchasing an additional 1,000 shares in the last quarter. Danske Bank A S acquired a new position in Eos Energy Enterprises in the 4th quarter worth about $33,000. TD Waterhouse Canada Inc. raised its stake in shares of Eos Energy Enterprises by 178.7% during the 4th quarter. TD Waterhouse Canada Inc. now owns 3,119 shares of the company’s stock worth $36,000 after purchasing an additional 2,000 shares in the last quarter. Finally, KFA Private Wealth Group LLC purchased a new stake in shares of Eos Energy Enterprises during the 1st quarter worth about $50,000. 54.87% of the stock is currently owned by hedge funds and other institutional investors.

About Eos Energy Enterprises

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.