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

Shares of Eos Energy Enterprises, Inc. (NASDAQ:EOSE) have received a consensus recommendation of “Hold” from the eleven analysts that are presently covering the stock, MarketBeat.com reports. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating, two have given a buy rating and one has issued a strong buy rating on the company. The average 12-month target price among analysts that have issued a report on the stock in the last year is $9.1667.

EOSE has been the topic of several research reports. Wall Street Zen lowered shares of Eos Energy Enterprises from a “hold” rating to a “sell” rating in a report on Saturday, July 4th. Needham & Company LLC initiated coverage on Eos Energy Enterprises in a research note on Friday, May 22nd. They issued a “buy” rating and a $11.00 target price for the company. Stifel Nicolaus decreased their target price on Eos Energy Enterprises from $12.00 to $10.00 and set a “buy” rating for the company in a research report on Monday, July 13th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Eos Energy Enterprises in a research note on Friday, July 17th. Finally, Truist Financial initiated coverage on Eos Energy Enterprises in a report on Monday, July 13th. They issued a “buy” rating and a $7.00 price target on the stock.

Eos Energy Enterprises Stock Down 7.3%

NASDAQ:EOSE opened at $3.12 on Thursday. Eos Energy Enterprises has a twelve month low of $3.11 and a twelve month high of $19.86. The company has a fifty day moving average of $6.04 and a 200-day moving average of $8.06. The firm has a market capitalization of $1.06 billion, a P/E ratio of -0.47 and a beta of 2.68.

Eos Energy Enterprises (NASDAQ:EOSE) last issued its earnings results on Wednesday, May 13th. The company reported $0.12 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.22) by $0.34. The company had revenue of $56.96 million for the quarter, compared to the consensus estimate of $54.32 million. On average, analysts anticipate that Eos Energy Enterprises will post -0.32 EPS for the current fiscal year.

Insider Buying and Selling

In other Eos Energy Enterprises news, CAO Sumeet Puri sold 29,167 shares of the company’s stock in a transaction on Tuesday, July 28th. The shares were sold at an average price of $3.36, for a total transaction of $98,001.12. Following the transaction, the chief accounting officer owned 202,279 shares in the company, valued at approximately $679,657.44. This represents a 12.60% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through 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, CEO Joe Mastrangelo sold 159,154 shares of the firm’s stock in a transaction on Monday, July 27th. The shares were sold at an average price of $3.61, for a total transaction of $574,545.94. Following the completion of the transaction, the chief executive officer directly owned 1,947,586 shares in the company, valued at $7,030,785.46. This trade represents a 7.55% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 456,307 shares of company stock worth $1,882,877 over the last quarter. Corporate insiders own 1.73% of the company’s stock.

Hedge Funds Weigh In On Eos Energy Enterprises

Several large investors have recently added to or reduced their stakes in the business. PNC Financial Services Group Inc. increased its holdings in Eos Energy Enterprises by 3,843.8% during the 4th quarter. PNC Financial Services Group Inc. now owns 2,524 shares of the company’s stock worth $29,000 after purchasing an additional 2,460 shares in the last quarter. Towarzystwo Funduszy Inwestycyjnych PZU SA lifted its holdings in shares of Eos Energy Enterprises by 58.8% in the fourth quarter. Towarzystwo Funduszy Inwestycyjnych PZU SA now owns 2,700 shares of the company’s stock valued at $31,000 after purchasing an additional 1,000 shares in the last quarter. Danske Bank A S bought a new position in shares of Eos Energy Enterprises in the fourth quarter valued at approximately $33,000. TD Waterhouse Canada Inc. boosted its position in shares of Eos Energy Enterprises by 178.7% during the fourth quarter. TD Waterhouse Canada Inc. now owns 3,119 shares of the company’s stock valued at $36,000 after buying an additional 2,000 shares during the last quarter. Finally, GAMMA Investing LLC boosted its position in shares of Eos Energy Enterprises by 46.4% during the fourth quarter. GAMMA Investing LLC now owns 3,270 shares of the company’s stock valued at $37,000 after buying an additional 1,036 shares during the last quarter. Institutional investors own 54.87% of the company’s stock.

More Eos Energy Enterprises News

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

• Positive Sentiment: Eos batteries are expected to be used in Bimergen Energy’s recently closed 480 MWh Texas battery-storage portfolio, including the 100 MW/400 MWh Redbird project. The deal offers potential equipment demand and technology validation for Eos, although no contract value or revenue timing was disclosed. Bimergen Energy battery storage project sales
• Positive Sentiment: Analysts expect Eos to potentially beat estimates in its upcoming results, supported by the company’s previous quarterly outperformance. Eos most recently reported $0.12 in EPS versus a projected $0.22 loss and revenue of $56.96 million versus a $54.32 million consensus estimate. Zacks Eos earnings expectations
• Neutral Sentiment: Eos was expected to report quarterly earnings on Wednesday. The results, guidance and commentary on production, project execution and cash needs could determine whether the stock’s sharp decline can stabilize. Eos expected earnings report
• Negative Sentiment: CEO Joe Mastrangelo sold 159,154 shares for approximately $574,546, reducing his direct holdings by 7.55%. Chief Accounting Officer Sumeet Puri sold 29,167 shares worth about $98,001, cutting his position by 12.60%. Eos insider selling and one-year low
• Negative Sentiment: Insider Nathan Kroeker also sold 110,417 shares for roughly $371,001, reducing his holdings by 11.06%. The Puri and Kroeker transactions were conducted under pre-arranged Rule 10b5-1 plans to cover tax withholding on vested equity awards, which reduces—but does not eliminate—their negative signaling effect.

About Eos Energy Enterprises

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.