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

Shares of Eos Energy Enterprises, Inc. (NASDAQ:EOSE) have received a consensus rating of “Hold” from the six brokerages that are currently covering the company, Marketbeat reports. Four equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. The average twelve-month price objective among brokers that have issued ratings on the stock in the last year is $6.50.

Several research firms have recently weighed in on EOSE. Cowen reissued a “hold” rating on shares of Eos Energy Enterprises in a research note on Friday, March 7th. Stifel Nicolaus decreased their price objective on Eos Energy Enterprises from $9.00 to $8.50 and set a “buy” rating on the stock in a report on Monday, June 9th. TD Cowen upgraded Eos Energy Enterprises to a “hold” rating in a research report on Monday. Finally, Guggenheim cut their target price on Eos Energy Enterprises from $7.00 to $6.00 and set a “buy” rating for the company in a research note on Monday, June 2nd.

Insider Transactions at Eos Energy Enterprises

In related news, CAO Sumeet Puri sold 36,173 shares of Eos Energy Enterprises stock in a transaction that occurred on Friday, May 16th. The shares were sold at an average price of $6.86, for a total value of $248,146.78. Following the completion of the sale, the chief accounting officer now owns 95,624 shares in the company, valued at approximately $655,980.64. This trade represents a 27.45% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Joe Mastrangelo sold 270,384 shares of the business’s stock in a transaction that occurred on Friday, May 16th. The shares were sold at an average price of $6.86, for a total value of $1,854,834.24. Following the completion of the sale, the chief executive officer now directly owns 1,109,409 shares in the company, valued at approximately $7,610,545.74. The trade was a 19.60% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 560,356 shares of company stock worth $3,844,042. 3.63% of the stock is currently owned by insiders.

Institutional Trading of Eos Energy Enterprises

A number of large investors have recently modified their holdings of EOSE. Wells Fargo & Company MN raised its position in Eos Energy Enterprises by 3.6% in the 4th quarter. Wells Fargo & Company MN now owns 62,075 shares of the company’s stock valued at $302,000 after purchasing an additional 2,175 shares in the last quarter. Carmel Capital Partners LLC raised its holdings in Eos Energy Enterprises by 24.5% in the first quarter. Carmel Capital Partners LLC now owns 12,450 shares of the company’s stock valued at $47,000 after acquiring an additional 2,450 shares in the last quarter. Meridian Wealth Management LLC lifted its stake in Eos Energy Enterprises by 2.6% in the first quarter. Meridian Wealth Management LLC now owns 102,400 shares of the company’s stock worth $387,000 after acquiring an additional 2,600 shares during the last quarter. Landscape Capital Management L.L.C. grew its holdings in Eos Energy Enterprises by 5.8% during the 1st quarter. Landscape Capital Management L.L.C. now owns 54,711 shares of the company’s stock worth $207,000 after acquiring an additional 2,980 shares in the last quarter. Finally, Cambridge Investment Research Advisors Inc. increased its position in shares of Eos Energy Enterprises by 16.9% in the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 33,053 shares of the company’s stock valued at $125,000 after purchasing an additional 4,767 shares during the last quarter. Hedge funds and other institutional investors own 54.87% of the company’s stock.

Eos Energy Enterprises Stock Performance

NASDAQ EOSE opened at $4.37 on Wednesday. The stock’s fifty day moving average is $5.15 and its two-hundred day moving average is $4.81. The firm has a market capitalization of $994.57 million, a P/E ratio of -0.99 and a beta of 1.97. Eos Energy Enterprises has a fifty-two week low of $1.00 and a fifty-two week high of $7.36.

Eos Energy Enterprises (NASDAQ:EOSE) last announced its quarterly earnings results on Tuesday, May 6th. The company reported ($0.20) earnings per share for the quarter, missing the consensus estimate of ($0.19) by ($0.01). The firm had revenue of $10.46 million for the quarter, compared to analysts’ expectations of $11.77 million. As a group, sell-side analysts forecast that Eos Energy Enterprises will post -2.54 EPS for the current year.

Eos Energy Enterprises Company Profile

Eos Energy Enterprises, Inc designs, manufactures, and markets zinc-based energy storage solutions for utility-scale, microgrid, and commercial and industrial (C&I) applications in the United States. The company offers Znyth technology battery energy storage system (BESS), which provides the operating flexibility to manage increased grid complexity and price volatility.