Eos Energy Enterprises (NASDAQ:EOSE) Rating Increased to Hold at Zacks Research

Zacks Research upgraded shares of Eos Energy Enterprises (NASDAQ:EOSE) from a strong sell rating to a hold rating in a research note released on Monday morning,Zacks.com reports.

EOSE has been the subject of a number of other research reports. Roth Capital set a $12.00 target price on Eos Energy Enterprises and gave the stock a “neutral” rating in a report on Wednesday, October 22nd. Stifel Nicolaus raised their price target on shares of Eos Energy Enterprises from $10.00 to $22.00 and gave the stock a “buy” rating in a research report on Wednesday, October 15th. B. Riley lifted their price objective on shares of Eos Energy Enterprises from $8.00 to $12.00 and gave the stock a “neutral” rating in a research note on Tuesday, November 11th. Weiss Ratings reissued a “sell (d-)” rating on shares of Eos Energy Enterprises in a report on Wednesday, October 8th. Finally, Guggenheim raised their target price on shares of Eos Energy Enterprises from $10.00 to $20.00 and gave the stock a “buy” rating in a report on Wednesday, October 22nd. Two research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, Eos Energy Enterprises currently has a consensus rating of “Hold” and an average target price of $12.44.

Eos Energy Enterprises Trading Up 0.9%

Shares of NASDAQ:EOSE traded up $0.15 during trading on Monday, reaching $16.97. 22,889,385 shares of the stock were exchanged, compared to its average volume of 19,922,330. Eos Energy Enterprises has a 12 month low of $3.07 and a 12 month high of $19.86. The stock has a 50-day moving average price of $14.04 and a 200-day moving average price of $10.77. The firm has a market cap of $4.89 billion, a PE ratio of -2.02 and a beta of 2.11.

Eos Energy Enterprises (NASDAQ:EOSE) last announced its earnings results on Wednesday, November 5th. The company reported ($2.77) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.31) by ($2.46). The firm had revenue of $30.51 million during the quarter, compared to the consensus estimate of $39.55 million. On average, sell-side analysts expect that Eos Energy Enterprises will post -2.54 earnings per share for the current fiscal year.

Insider Activity at Eos Energy Enterprises

In other news, Director Marian Walters sold 50,000 shares of the business’s stock in a transaction that occurred on Thursday, December 4th. The shares were sold at an average price of $15.81, for a total value of $790,500.00. Following the completion of the transaction, the director directly owned 135,334 shares in the company, valued at approximately $2,139,630.54. The trade was a 26.98% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Russell Monoki Stidolph sold 500,000 shares of the stock in a transaction that occurred on Friday, December 5th. The stock was sold at an average price of $14.99, for a total transaction of $7,495,000.00. Following the sale, the director owned 2,153,272 shares in the company, valued at $32,277,547.28. This represents a 18.84% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 816,134 shares of company stock valued at $12,262,335 over the last 90 days. Corporate insiders own 3.30% of the company’s stock.

Hedge Funds Weigh In On Eos Energy Enterprises

Several hedge funds and other institutional investors have recently modified their holdings of the business. Chung Wu Investment Group LLC acquired a new stake in Eos Energy Enterprises in the third quarter valued at about $30,000. GAMMA Investing LLC lifted its holdings in shares of Eos Energy Enterprises by 46.4% in the fourth quarter. GAMMA Investing LLC now owns 3,270 shares of the company’s stock worth $37,000 after acquiring an additional 1,036 shares during the last quarter. Farther Finance Advisors LLC boosted its stake in shares of Eos Energy Enterprises by 33.0% in the 3rd quarter. Farther Finance Advisors LLC now owns 3,325 shares of the company’s stock valued at $38,000 after purchasing an additional 825 shares in the last quarter. Amalgamated Bank acquired a new stake in shares of Eos Energy Enterprises in the 2nd quarter valued at approximately $39,000. Finally, Skandinaviska Enskilda Banken AB publ bought a new stake in shares of Eos Energy Enterprises during the 2nd quarter valued at approximately $39,000. Institutional investors own 54.87% of the company’s stock.

Eos Energy Enterprises Company Profile

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.