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

Shares of Eos Energy Enterprises, Inc. (NASDAQ:EOSE) have received a consensus recommendation of “Hold” from the eleven research firms that are covering the stock, Marketbeat reports. One research analyst has rated the stock with a sell rating, seven have issued a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company. The average 1 year price target among brokers that have issued a report on the stock in the last year is $8.0556.

A number of equities research analysts have weighed in on EOSE shares. B. Riley Financial decreased their price target on shares of Eos Energy Enterprises from $8.00 to $5.00 and set a “neutral” rating on the stock in a research note on Friday, August 14th. Truist Financial assumed coverage on Eos Energy Enterprises in a research note on Monday, July 13th. They issued a “buy” rating and a $7.00 price target on the stock. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Eos Energy Enterprises in a report on Friday, July 17th. Wall Street Zen cut shares of Eos Energy Enterprises from a “sell” rating to a “strong sell” rating in a research note on Saturday, August 8th. Finally, Needham & Company LLC initiated coverage on Eos Energy Enterprises in a report on Friday, May 22nd. They issued a “buy” rating and a $11.00 target price on the stock.

Eos Energy Enterprises Trading Down 4.7%

Shares of Eos Energy Enterprises stock opened at $3.26 on Monday. The company has a market cap of $1.19 billion, a price-to-earnings ratio of -0.48 and a beta of 2.75. The company’s fifty day simple moving average is $4.34 and its 200-day simple moving average is $6.27. Eos Energy Enterprises has a 1 year low of $3.11 and a 1 year high of $19.86.

Eos Energy Enterprises (NASDAQ:EOSE) last posted its quarterly earnings data on Wednesday, August 5th. The company reported ($1.20) earnings per share (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 the consensus estimate of $68.32 million. During the same quarter last year, the firm posted ($1.05) EPS. As a group, research analysts forecast that Eos Energy Enterprises will post -0.91 earnings per share for the current fiscal year.

Insider Activity

In related news, insider Nathan Kroeker sold 110,417 shares of the firm’s 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 sale, the insider owned 887,527 shares of the company’s stock, valued at $2,982,090.72. This trade represents a 11.06% 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. 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, insider Michael W. Silberman sold 14,998 shares of the business’s stock in a transaction that occurred on Tuesday, June 30th. The stock was sold at an average price of $5.87, for a total transaction of $88,038.26. Following the completion of the transaction, the insider owned 298,277 shares of the company’s stock, valued at $1,750,885.99. This trade represents a 4.79% decrease in their position. The disclosure for this sale is available in the SEC filing. 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 quarter, insiders have sold 448,626 shares of company stock worth $1,828,572. 1.73% of the stock is currently owned by insiders.

Institutional Trading of Eos Energy Enterprises

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. PNC Financial Services Group Inc. raised its stake in shares of Eos Energy Enterprises by 3,843.8% during the fourth quarter. PNC Financial Services Group Inc. now owns 2,524 shares of the company’s stock worth $29,000 after buying an additional 2,460 shares during the last quarter. Towarzystwo Funduszy Inwestycyjnych PZU SA increased its stake in 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 purchasing an additional 1,000 shares in the last quarter. Danske Bank A S acquired a new position in shares of Eos Energy Enterprises during the fourth quarter worth about $33,000. TD Waterhouse Canada Inc. boosted 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 purchasing an additional 2,000 shares during the period. Finally, KFA Private Wealth Group LLC bought a new stake in Eos Energy Enterprises during the first quarter worth about $50,000. 54.87% of the stock is owned by institutional investors.

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.