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

Eos Energy Enterprises, Inc. (NASDAQ:EOSE) has been assigned a consensus recommendation of “Hold” from the ten ratings firms that are covering the firm, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and two have assigned a buy rating to the company. The average 12-month price objective among brokerages that have issued a report on the stock in the last year is $10.9375.

Several research firms recently weighed in on EOSE. Needham & Company LLC began coverage on Eos Energy Enterprises in a research report on Friday, May 22nd. They set a “buy” rating and a $11.00 price objective for the company. Weiss Ratings reissued a “sell (d-)” rating on shares of Eos Energy Enterprises in a research report on Tuesday, April 21st. Guggenheim reissued a “neutral” rating and set a $20.00 price objective on shares of Eos Energy Enterprises in a research report on Friday, February 27th. Roth Mkm cut their price objective on Eos Energy Enterprises from $12.00 to $6.00 and set a “neutral” rating for the company in a research report on Friday, February 27th. Finally, Zacks Research raised Eos Energy Enterprises from a “strong sell” rating to a “hold” rating in a research report on Tuesday, April 28th.

Eos Energy Enterprises Stock Performance

EOSE opened at $6.26 on Wednesday. Eos Energy Enterprises has a 52-week low of $3.88 and a 52-week high of $19.86. The company has a market cap of $2.13 billion, a PE ratio of -0.94 and a beta of 2.62. The stock has a 50-day moving average of $7.00 and a 200-day moving average of $10.13.

Eos Energy Enterprises (NASDAQ:EOSE) last posted its quarterly earnings data on Wednesday, May 13th. The company reported $0.12 earnings per share 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. On average, research analysts predict that Eos Energy Enterprises will post -0.31 earnings per share for the current year.

Insider Buying and Selling

In other Eos Energy Enterprises news, Director Marian Walters sold 7,681 shares of the company’s stock in a transaction that occurred on Tuesday, May 19th. The stock was sold at an average price of $7.07, for a total value of $54,304.67. Following the completion of the transaction, the director owned 135,334 shares of the company’s stock, valued at $956,811.38. This represents a 5.37% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 1.73% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Eos Energy Enterprises

Several large investors have recently added to or reduced their stakes in EOSE. PNC Financial Services Group Inc. raised its holdings in 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 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 valued at $31,000 after acquiring an additional 1,000 shares in the last quarter. Danske Bank A S acquired a new position in Eos Energy Enterprises in the 4th quarter valued at approximately $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 valued at $36,000 after acquiring an additional 2,000 shares in the last quarter. Finally, GAMMA Investing LLC raised its holdings in Eos Energy Enterprises by 46.4% in the 4th quarter. GAMMA Investing LLC now owns 3,270 shares of the company’s stock valued at $37,000 after acquiring an additional 1,036 shares in the last quarter. Institutional investors and hedge funds own 54.87% of the company’s stock.

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.