Eos Energy Enterprises, Inc. (EOSE) – What Are Analysts Thinking About This Stock?

Eos Energy Enterprises, Inc. (NASDAQ:EOSE) has been assigned an average rating of “Hold” from the ten ratings firms that are currently covering the firm, Marketbeat.com reports. One analyst has rated the stock with a sell rating, six have assigned a hold rating, two have issued a buy rating and one has issued a strong buy rating on the company. The average twelve-month price target among brokers that have covered the stock in the last year is $8.19.

A number of brokerages have weighed in on EOSE. Needham & Company LLC dropped their price target on shares of Eos Energy Enterprises from $11.00 to $10.00 and set a “buy” rating for the company in a research report on Tuesday, September 15th. Stifel Nicolaus decreased their target price on Eos Energy Enterprises from $10.00 to $9.00 and set a “buy” rating on the stock in a research note on Thursday, August 6th. Wall Street Zen cut Eos Energy Enterprises from a “sell” rating to a “strong sell” rating in a report on Saturday, August 8th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Eos Energy Enterprises in a research report on Thursday. Finally, Roth Capital lifted their target price on Eos Energy Enterprises from $4.00 to $4.50 and gave the company a “neutral” rating in a research report on Thursday, September 10th.

Insider Buying and Selling at Eos Energy Enterprises

In related news, insider Nathan Kroeker sold 110,417 shares of Eos Energy Enterprises stock in a transaction that occurred on Tuesday, July 28th. The shares were sold at an average price of $3.36, for a total value of $371,001.12. Following the completion of the transaction, the insider owned 887,527 shares in the company, valued at approximately $2,982,090.72. The trade was a 11.06% decrease in their ownership of the stock. The sale was disclosed in a document filed 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 250,000 shares of the company’s stock in a transaction that occurred on Wednesday, September 16th. The stock was sold at an average price of $3.92, for a total transaction of $980,000.00. Following the sale, the chief executive officer directly owned 2,308,704 shares in the company, valued at approximately $9,050,119.68. The trade was a 9.77% 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. Insiders sold a total of 626,655 shares of company stock worth $2,336,158 over the last ninety days. Company insiders own 1.73% of the company’s stock.

Institutional Trading of Eos Energy Enterprises

Several hedge funds have recently modified their holdings of the stock. Allworth Financial LP grew its stake in Eos Energy Enterprises by 198.6% during the 2nd quarter. Allworth Financial LP now owns 4,300 shares of the company’s stock worth $25,000 after purchasing an additional 2,860 shares in the last quarter. Caitong International Asset Management Co. Ltd raised its position in Eos Energy Enterprises by 38.7% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 5,972 shares of the company’s stock valued at $68,000 after purchasing an additional 1,665 shares in the last quarter. PNC Financial Services Group Inc. boosted its stake in shares of Eos Energy Enterprises by 279.4% in the 1st quarter. PNC Financial Services Group Inc. now owns 9,577 shares of the company’s stock valued at $48,000 after buying an additional 7,053 shares during the period. KFA Private Wealth Group LLC purchased a new position in shares of Eos Energy Enterprises in the 1st quarter valued at about $50,000. Finally, Nykredit A S purchased a new position in shares of Eos Energy Enterprises in the 2nd quarter valued at about $60,000. 54.87% of the stock is currently owned by institutional investors and hedge funds.

Eos Energy Enterprises Price Performance

Eos Energy Enterprises stock opened at $1.81 on Tuesday. The firm has a 50 day simple moving average of $3.41 and a 200-day simple moving average of $5.15. Eos Energy Enterprises has a 1-year low of $1.72 and a 1-year high of $19.86. The stock has a market cap of $659.15 million, a price-to-earnings ratio of -0.27 and a beta of 2.88.

Eos Energy Enterprises (NASDAQ:EOSE) last released its quarterly earnings results 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 analysts’ expectations of $68.32 million. During the same quarter in the previous year, the firm posted ($1.05) earnings per share. Equities analysts expect that Eos Energy Enterprises will post -1.28 earnings per share for the current fiscal year.

Eos Energy Enterprises Company Profile

Eos Energy Enterprises, Inc develops and manufactures long-duration energy storage systems designed to support the electric grid and renewable energy projects. Its technology is based on aqueous zinc battery chemistry, which is intended to provide a safer, nonflammable alternative to conventional lithium-ion systems for stationary energy storage.

The company’s primary product is the Eos Z3 energy storage system, a modular, utility-scale battery platform designed for applications such as renewable energy integration, grid resilience, peak-load management, and microgrids.