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

Shares of Eos Energy Enterprises, Inc. (NASDAQ:EOSE) have been assigned an average recommendation of “Hold” from the ten brokerages that are covering the stock, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell rating, six have given a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company. The average twelve-month price objective among brokers that have issued a report on the stock in the last year is $8.1875.

EOSE has been the subject of several recent research reports. Stifel Nicolaus decreased their price target on shares of Eos Energy Enterprises from $10.00 to $9.00 and set a “buy” rating for the company in a research report on Thursday, August 6th. TD Cowen decreased their target price on Eos Energy Enterprises from $8.00 to $4.00 and set a “hold” rating for the company in a report on Thursday, August 6th. Truist Financial began coverage on Eos Energy Enterprises in a report on Monday, July 13th. They set a “buy” rating and a $7.00 price target on the stock. Roth Capital lifted their price objective on Eos Energy Enterprises from $4.00 to $4.50 and gave the company a “neutral” rating in a research note on Thursday, September 10th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Eos Energy Enterprises in a research note on Friday, July 17th.

Eos Energy Enterprises Price Performance

Shares of NASDAQ:EOSE opened at $3.98 on Friday. The firm has a market capitalization of $1.45 billion, a PE ratio of -0.58 and a beta of 2.77. Eos Energy Enterprises has a 1 year low of $3.01 and a 1 year high of $19.86. The firm’s 50-day moving average is $3.83 and its two-hundred day moving average is $5.56.

Eos Energy Enterprises (NASDAQ:EOSE) last posted its quarterly earnings data on Wednesday, August 5th. The company reported ($1.20) EPS for the quarter, missing the consensus estimate of ($0.19) by ($1.01). The firm had revenue of $68.78 million for the quarter, compared to analyst estimates of $68.32 million. During the same period last year, the firm posted ($1.05) earnings per share. Analysts expect that Eos Energy Enterprises will post -1.28 EPS for the current fiscal year.

Insider Buying and Selling

In other Eos Energy Enterprises news, CAO Sumeet Puri sold 43,750 shares of the firm’s stock in a transaction on Wednesday, September 16th. The stock was sold at an average price of $3.92, for a total value of $171,500.00. Following the sale, the chief accounting officer directly owned 280,195 shares in the company, valued at $1,098,364.40. This trade represents a 13.51% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 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, insider Michael W. Silberman sold 14,998 shares of the company’s stock in a transaction dated Tuesday, June 30th. The stock was sold at an average price of $5.87, for a total value of $88,038.26. Following the transaction, the insider directly owned 298,277 shares of the company’s stock, valued at approximately $1,750,885.99. This represents a 4.79% decrease in their ownership of the stock. 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. In the last 90 days, insiders sold 776,543 shares of company stock worth $3,121,182. Corporate insiders own 1.73% of the company’s stock.

Institutional Investors Weigh In On Eos Energy Enterprises

Several institutional investors have recently added to or reduced their stakes in EOSE. Geode Capital Management LLC increased its stake in Eos Energy Enterprises by 16.1% in the fourth quarter. Geode Capital Management LLC now owns 7,205,507 shares of the company’s stock valued at $82,587,000 after purchasing an additional 998,332 shares during the last quarter. Baker Avenue Asset Management LP acquired a new position in shares of Eos Energy Enterprises in the 4th quarter valued at $11,542,000. Renaissance Technologies LLC purchased a new position in shares of Eos Energy Enterprises in the 1st quarter valued at $9,152,000. First Trust Advisors LP raised its stake in Eos Energy Enterprises by 3.7% during the 1st quarter. First Trust Advisors LP now owns 1,537,606 shares of the company’s stock worth $7,627,000 after acquiring an additional 55,145 shares in the last quarter. Finally, Wellington Management Group LLP lifted its position in Eos Energy Enterprises by 475.8% in the second quarter. Wellington Management Group LLP now owns 1,155,515 shares of the company’s stock valued at $6,794,000 after acquiring an additional 954,828 shares during the last quarter. Hedge funds and other institutional investors own 54.87% of the company’s stock.

Eos Energy Enterprises Company Profile

Eos Energy Enterprises, Inc develops and manufactures long-duration energy storage systems designed to support the reliability and flexibility of electric grids. Its technology is based on aqueous zinc battery chemistry, which is intended to provide a non-flammable alternative to conventional lithium-ion batteries for stationary storage applications.

The company’s primary product platform is the Eos Z3, a modular battery system designed for utility-scale and other large-scale energy storage projects.