Eos Energy Enterprises (NASDAQ:EOSE) Stock Rating Upgraded by Needham & Company LLC

Eos Energy Enterprises (NASDAQ:EOSE) was upgraded by investment analysts at Needham & Company LLC to a “moderate buy” rating in a note issued to investors on Friday,Zacks.com reports.

Several other research analysts have also recently commented on the stock. Guggenheim restated a “neutral” rating and set a $20.00 target price on shares of Eos Energy Enterprises in a report on Friday, February 27th. B. Riley Financial reduced their target price on shares of Eos Energy Enterprises from $12.00 to $8.00 and set a “neutral” rating for the company in a report on Thursday, March 5th. Roth Mkm cut their price target on shares of Eos Energy Enterprises from $12.00 to $6.00 and set a “neutral” rating for the company in a research note on Friday, February 27th. Zacks Research raised shares of Eos Energy Enterprises from a “strong sell” rating to a “hold” rating in a research report on Tuesday, April 28th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Eos Energy Enterprises in a research report on Tuesday, April 21st. Two equities research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $10.94.

Eos Energy Enterprises Trading Down 1.3%

Shares of EOSE opened at $8.06 on Friday. Eos Energy Enterprises has a 12 month low of $3.69 and a 12 month high of $19.86. The firm has a fifty day simple moving average of $6.33 and a 200 day simple moving average of $10.78. The stock has a market capitalization of $2.74 billion, a price-to-earnings ratio of -1.21 and a beta of 2.56.

Eos Energy Enterprises (NASDAQ:EOSE) last announced its earnings results on Wednesday, May 13th. The company reported $0.12 EPS for the quarter, topping the consensus estimate of ($0.22) by $0.34. The business had revenue of $56.96 million for the quarter, compared to analyst estimates of $54.32 million. As a group, research analysts predict that Eos Energy Enterprises will post -0.8 earnings per share for the current fiscal year.

Insider Activity at Eos Energy Enterprises

In related news, CEO Joe Mastrangelo bought 23,900 shares of the business’s stock in a transaction dated Wednesday, March 4th. The stock was bought at an average price of $6.58 per share, for a total transaction of $157,262.00. Following the purchase, the chief executive officer owned 1,487,126 shares in the company, valued at $9,785,289.08. This represents a 1.63% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director David Urban bought 16,250 shares of the business’s stock in a transaction dated Monday, March 9th. The shares were bought at an average price of $6.16 per share, with a total value of $100,100.00. Following the purchase, the director owned 62,471 shares in the company, valued at $384,821.36. The trade was a 35.16% increase in their position. The SEC filing for this purchase provides additional information. In the last quarter, insiders have purchased 115,150 shares of company stock worth $692,962. 1.73% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the company. J. Derek Lewis & Associates Inc. bought a new position in Eos Energy Enterprises during the 1st quarter worth $98,000. Bank of America Corp DE increased its position in Eos Energy Enterprises by 89.1% during the 1st quarter. Bank of America Corp DE now owns 1,247,548 shares of the company’s stock worth $6,188,000 after buying an additional 587,752 shares during the period. Amundi increased its position in Eos Energy Enterprises by 163.2% during the 1st quarter. Amundi now owns 26,586 shares of the company’s stock worth $132,000 after buying an additional 16,485 shares during the period. California State Teachers Retirement System increased its position in Eos Energy Enterprises by 21.0% during the first quarter. California State Teachers Retirement System now owns 376,101 shares of the company’s stock worth $1,865,000 after acquiring an additional 65,216 shares during the period. Finally, Empowered Funds LLC bought a new position in Eos Energy Enterprises during the first quarter worth about $66,000. Institutional investors own 54.87% of the company’s stock.

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.