Eos Energy Enterprises (NASDAQ:EOSE) Upgraded to Hold at Wall Street Zen

Wall Street Zen upgraded shares of Eos Energy Enterprises (NASDAQ:EOSE) from a strong sell rating to a hold rating in a report published on Saturday morning.

EOSE has been the topic of a number of other research reports. B. Riley Financial cut their price objective on shares of Eos Energy Enterprises from $12.00 to $8.00 and set a “neutral” rating on the stock in a research report on Thursday, March 5th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Eos Energy Enterprises in a research report on Tuesday, April 21st. Roth Mkm cut their price objective on shares of Eos Energy Enterprises from $12.00 to $6.00 and set a “neutral” rating on the stock in a research report on Friday, February 27th. JPMorgan Chase & Co. cut 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, Guggenheim reaffirmed a “neutral” rating and issued a $20.00 price objective on shares of Eos Energy Enterprises in a research report on Friday, February 27th. One equities research analyst has 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, Eos Energy Enterprises presently has a consensus rating of “Hold” and an average price target of $10.93.

Eos Energy Enterprises Stock Performance

NASDAQ:EOSE opened at $7.86 on Friday. Eos Energy Enterprises has a one year low of $3.69 and a one year high of $19.86. The firm has a market cap of $2.67 billion, a P/E ratio of -1.18 and a beta of 2.56. The firm has a 50-day simple moving average of $6.22 and a 200-day simple moving average of $11.04.

Eos Energy Enterprises (NASDAQ:EOSE) last issued its quarterly earnings data on Wednesday, May 13th. The company reported $0.12 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.22) by $0.34. The firm had revenue of $56.96 million during the quarter, compared to analysts’ expectations of $54.32 million. On average, research analysts predict that Eos Energy Enterprises will post -0.8 EPS for the current fiscal year.

Insider Activity

In other Eos Energy Enterprises news, Director Alexander Dimitrief acquired 15,000 shares of the company’s stock in a transaction dated Monday, March 2nd. The shares were acquired at an average cost of $6.04 per share, with a total value of $90,600.00. Following the acquisition, the director directly owned 235,221 shares of the company’s stock, valued at approximately $1,420,734.84. The trade was a 6.81% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO Joe Mastrangelo acquired 23,900 shares of the company’s stock in a transaction dated Wednesday, March 4th. The stock was acquired at an average cost of $6.58 per share, for a total transaction of $157,262.00. Following the completion of the acquisition, the chief executive officer directly owned 1,487,126 shares in the company, valued at approximately $9,785,289.08. The trade was a 1.63% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders have acquired 115,150 shares of company stock valued at $692,962 in the last ninety days. Insiders own 1.73% of the company’s stock.

Hedge Funds Weigh In On Eos Energy Enterprises

Several large investors have recently made changes to their positions in EOSE. PNC Financial Services Group Inc. lifted its stake in shares of Eos Energy Enterprises by 3,843.8% in the 4th quarter. PNC Financial Services Group Inc. now owns 2,524 shares of the company’s stock valued at $29,000 after purchasing an additional 2,460 shares during the period. Chung Wu Investment Group LLC acquired a new position in Eos Energy Enterprises during the third quarter worth $30,000. Towarzystwo Funduszy Inwestycyjnych PZU SA raised its position in Eos Energy Enterprises by 58.8% during the fourth quarter. Towarzystwo Funduszy Inwestycyjnych PZU SA now owns 2,700 shares of the company’s stock worth $31,000 after acquiring an additional 1,000 shares during the period. Danske Bank A S acquired a new position in Eos Energy Enterprises during the fourth quarter worth $33,000. Finally, TD Waterhouse Canada Inc. raised its position in Eos Energy Enterprises by 178.7% during the fourth quarter. TD Waterhouse Canada Inc. now owns 3,119 shares of the company’s stock worth $36,000 after acquiring an additional 2,000 shares during the period. 54.87% of the stock is currently owned by institutional investors and hedge funds.

Eos Energy Enterprises Company Profile

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.