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

Eos Energy Enterprises, Inc. (NASDAQ:EOSEGet Free Report) has been assigned an average recommendation of “Hold” from the eleven analysts that are covering the stock, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company. The average twelve-month price objective among brokerages that have issued ratings on the stock in the last year is $9.1667.

EOSE has been the topic of several analyst reports. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Eos Energy Enterprises in a research note on Friday, July 17th. Stifel Nicolaus cut their price target on shares of Eos Energy Enterprises from $12.00 to $10.00 and set a “buy” rating on the stock in a report on Monday, July 13th. Truist Financial initiated coverage on shares of Eos Energy Enterprises in a report on Monday, July 13th. They issued a “buy” rating and a $7.00 price target on the stock. JPMorgan Chase & Co. decreased their price objective on shares of Eos Energy Enterprises from $9.00 to $6.00 and set a “neutral” rating on the stock in a research report on Thursday, April 16th. 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 price objective for the company.

Read Our Latest Analysis on EOSE

Eos Energy Enterprises Trading Down 12.2%

Shares of NASDAQ:EOSE opened at $3.82 on Thursday. The stock’s 50-day moving average price is $5.58 and its 200-day moving average price is $7.61. The stock has a market capitalization of $1.30 billion, a P/E ratio of -0.57 and a beta of 2.75. Eos Energy Enterprises has a 12-month low of $3.11 and a 12-month high of $19.86.

Eos Energy Enterprises (NASDAQ:EOSEGet Free Report) last announced its quarterly earnings data on Wednesday, August 5th. The company reported ($1.20) earnings per share for the quarter, missing the consensus estimate of ($0.29) by ($0.91). The business had revenue of $13.74 million during the quarter, compared to analysts’ expectations of $68.31 million. During the same period in the prior year, the firm earned ($1.05) EPS. As a group, research analysts predict that Eos Energy Enterprises will post -0.32 EPS for the current year.

Eos Energy Enterprises News Roundup

Here are the key news stories impacting Eos Energy Enterprises this week:

Insider Activity at Eos Energy Enterprises

In related news, CEO Joe Mastrangelo sold 159,154 shares of the business’s stock in a transaction dated Monday, July 27th. The stock was sold at an average price of $3.61, for a total transaction of $574,545.94. Following the transaction, the chief executive officer owned 1,947,586 shares in the company, valued at $7,030,785.46. The trade was a 7.55% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Nathan Kroeker sold 110,417 shares of the company’s stock in a transaction that occurred on 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 of the company’s stock, valued at $2,982,090.72. The trade was a 11.06% decrease in their position. The disclosure for this sale is available in the SEC filing. 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 456,307 shares of company stock worth $1,882,877 over the last 90 days. 1.73% of the stock is owned by insiders.

Hedge Funds Weigh In On Eos Energy Enterprises

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. PNC Financial Services Group Inc. boosted its holdings in Eos Energy Enterprises by 3,843.8% in the fourth quarter. PNC Financial Services Group Inc. now owns 2,524 shares of the company’s stock valued at $29,000 after acquiring an additional 2,460 shares in the last quarter. Towarzystwo Funduszy Inwestycyjnych PZU SA raised its holdings in Eos Energy Enterprises by 58.8% in the 4th quarter. Towarzystwo Funduszy Inwestycyjnych PZU SA now owns 2,700 shares of the company’s stock worth $31,000 after purchasing an additional 1,000 shares in the last quarter. Danske Bank A S bought a new position in Eos Energy Enterprises in the 4th quarter worth $33,000. TD Waterhouse Canada Inc. raised its holdings in Eos Energy Enterprises by 178.7% in 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, GAMMA Investing LLC lifted its position in shares of Eos Energy Enterprises by 46.4% in the 4th quarter. GAMMA Investing LLC now owns 3,270 shares of the company’s stock worth $37,000 after purchasing an additional 1,036 shares during the period. Institutional investors own 54.87% of the company’s stock.

Eos Energy Enterprises Company Profile

(Get Free Report)

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.

See Also

Analyst Recommendations for Eos Energy Enterprises (NASDAQ:EOSE)

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