Q1 2024 EPS Estimates for Eos Energy Enterprises, Inc. Reduced by B. Riley (NASDAQ:EOSE)

Eos Energy Enterprises, Inc. (NASDAQ:EOSE) – Investment analysts at B. Riley decreased their Q1 2024 earnings per share (EPS) estimates for shares of Eos Energy Enterprises in a report issued on Monday, April 22nd. B. Riley analyst C. Souther now expects that the company will post earnings per share of ($0.31) for the quarter, down from their previous forecast of ($0.19). The consensus estimate for Eos Energy Enterprises’ current full-year earnings is ($0.63) per share. B. Riley also issued estimates for Eos Energy Enterprises’ Q2 2024 earnings at ($0.29) EPS, Q3 2024 earnings at ($0.30) EPS, Q4 2024 earnings at ($0.19) EPS, FY2024 earnings at ($1.09) EPS, FY2025 earnings at ($0.58) EPS and FY2026 earnings at $0.30 EPS.

A number of other analysts also recently weighed in on the company. Guggenheim cut their target price on Eos Energy Enterprises from $10.00 to $4.00 and set a “buy” rating for the company in a research report on Thursday, March 7th. Evercore ISI dropped their price target on Eos Energy Enterprises from $12.00 to $7.00 and set an “outperform” rating for the company in a research note on Wednesday, March 6th. Two analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $6.08.

Eos Energy Enterprises Price Performance

Shares of NASDAQ:EOSE opened at $0.76 on Wednesday. The business’s 50 day simple moving average is $0.96 and its 200 day simple moving average is $1.16. Eos Energy Enterprises has a 1 year low of $0.70 and a 1 year high of $5.67. The company has a market capitalization of $154.10 million, a P/E ratio of -0.35 and a beta of 2.23.

Eos Energy Enterprises (NASDAQ:EOSE) last issued its quarterly earnings data on Monday, March 4th. The company reported ($0.16) earnings per share for the quarter, topping the consensus estimate of ($0.22) by $0.06. The business had revenue of $6.61 million during the quarter.

Institutional Investors Weigh In On Eos Energy Enterprises

Hedge funds have recently made changes to their positions in the stock. Exchange Traded Concepts LLC bought a new position in Eos Energy Enterprises in the 3rd quarter valued at approximately $35,000. Twin Focus Capital Partners LLC bought a new position in shares of Eos Energy Enterprises in the 3rd quarter valued at $54,000. Canal Insurance CO acquired a new stake in shares of Eos Energy Enterprises during the 3rd quarter valued at $86,000. Grimes & Company Inc. bought a new stake in Eos Energy Enterprises during the 4th quarter worth $44,000. Finally, Powell Investment Advisors LLC grew its position in Eos Energy Enterprises by 155.6% during the 4th quarter. Powell Investment Advisors LLC now owns 46,000 shares of the company’s stock worth $50,000 after acquiring an additional 28,000 shares during the last quarter. 54.87% of the stock is currently owned by institutional investors and hedge funds.

About Eos Energy Enterprises

Eos Energy Enterprises, Inc designs, manufactures, and markets zinc-based energy storage solutions for utility-scale, microgrid, and commercial and industrial (C&I) applications in the United States. The company offers Znyth technology battery energy storage system (BESS), which provides the operating flexibility to manage increased grid complexity and price volatility.