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

Shares of Eos Energy Enterprises, Inc. (NASDAQ:EOSE) have been given a consensus recommendation of “Hold” by the ten research firms that are covering the firm, MarketBeat.com reports. One analyst has rated the stock with a sell recommendation, seven have issued a hold recommendation and two have given a buy recommendation to the company. The average twelve-month target price among analysts that have issued a report on the stock in the last year is $10.9375.

Several research firms have weighed in on EOSE. Weiss Ratings restated a “sell (d-)” rating on shares of Eos Energy Enterprises in a research note on Tuesday, April 21st. JPMorgan Chase & Co. reduced 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. Needham & Company LLC began coverage on shares of Eos Energy Enterprises in a report on Friday, May 22nd. They issued a “buy” rating and a $11.00 target price on the stock. Zacks Research raised shares of Eos Energy Enterprises from a “strong sell” rating to a “hold” rating in a report on Tuesday, April 28th. Finally, TD Cowen upped their target price on shares of Eos Energy Enterprises from $7.00 to $8.00 and gave the stock a “hold” rating in a research report on Thursday, May 14th.

Insiders Place Their Bets

In other news, Director Marian Walters sold 7,681 shares of the firm’s stock in a transaction dated Tuesday, May 19th. The stock was sold at an average price of $7.07, for a total transaction of $54,304.67. Following the completion of the transaction, the director owned 135,334 shares in the company, valued at $956,811.38. This trade represents a 5.37% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Nathan Kroeker sold 35,289 shares of Eos Energy Enterprises stock in a transaction dated Tuesday, June 30th. The stock was sold at an average price of $5.86, for a total value of $206,793.54. Following the completion of the sale, the chief financial officer directly owned 697,801 shares in the company, valued at $4,089,113.86. This trade represents a 4.81% 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. Over the last 90 days, insiders have sold 78,260 shares of company stock worth $468,162. 1.73% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Eos Energy Enterprises

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. PNC Financial Services Group Inc. increased its stake 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 worth $29,000 after acquiring an additional 2,460 shares during the last quarter. Towarzystwo Funduszy Inwestycyjnych PZU SA raised its holdings in shares of Eos Energy Enterprises by 58.8% during the 4th 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 in the last quarter. Danske Bank A S bought a new position in shares of Eos Energy Enterprises during the 4th quarter valued at approximately $33,000. TD Waterhouse Canada Inc. boosted its position in shares of Eos Energy Enterprises by 178.7% during 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 during the last quarter. Finally, GAMMA Investing LLC boosted its position in shares of Eos Energy Enterprises by 46.4% during 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 during the last quarter. 54.87% of the stock is owned by institutional investors.

Eos Energy Enterprises Price Performance

NASDAQ EOSE opened at $5.23 on Friday. The firm has a market cap of $1.78 billion, a price-to-earnings ratio of -0.78 and a beta of 2.68. The business has a 50-day moving average price of $7.18 and a 200-day moving average price of $9.16. Eos Energy Enterprises has a twelve month low of $4.37 and a twelve month high of $19.86.

Eos Energy Enterprises (NASDAQ:EOSE) last released 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 business had revenue of $56.96 million for the quarter, compared to analysts’ expectations of $54.32 million. Research analysts expect that Eos Energy Enterprises will post -0.31 EPS for the current fiscal year.

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.