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 rating of “Hold” by the ten brokerages that are currently covering the stock, MarketBeat reports. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and two have assigned a buy rating to the company. The average twelve-month price target among brokerages that have issued a report on the stock in the last year is $10.9375.

Several research firms have recently commented on EOSE. JPMorgan Chase & Co. reduced their price target on shares of Eos Energy Enterprises from $9.00 to $6.00 and set a “neutral” rating for the company in a research report on Thursday, April 16th. Needham & Company LLC initiated coverage on shares of Eos Energy Enterprises in a research report on Friday, May 22nd. They set a “buy” rating and a $11.00 target price for the company. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Eos Energy Enterprises in a report on Tuesday, April 21st. Zacks Research upgraded shares of Eos Energy Enterprises from a “strong sell” rating to a “hold” rating in a research report on Tuesday, April 28th. Finally, Wall Street Zen cut shares of Eos Energy Enterprises from a “hold” rating to a “sell” rating in a research note on Saturday.

Eos Energy Enterprises Price Performance

Shares of EOSE opened at $5.23 on Friday. The firm has a market capitalization of $1.78 billion, a P/E ratio of -0.78 and a beta of 2.68. Eos Energy Enterprises has a one year low of $4.37 and a one year high of $19.86. The business has a fifty day moving average of $7.18 and a 200 day moving average of $9.16.

Eos Energy Enterprises (NASDAQ:EOSE) last posted its earnings results on Wednesday, May 13th. The company reported $0.12 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.22) by $0.34. The firm had revenue of $56.96 million during the quarter, compared to the consensus estimate of $54.32 million. Analysts expect that Eos Energy Enterprises will post -0.31 EPS for the current fiscal year.

Insider Activity at Eos Energy Enterprises

In other Eos Energy Enterprises news, Director Marian Walters sold 7,681 shares of the company’s stock in a transaction dated Tuesday, May 19th. The stock was sold at an average price of $7.07, for a total value of $54,304.67. Following the completion of the sale, the director owned 135,334 shares in the company, valued at $956,811.38. This represents a 5.37% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Michael W. Silberman sold 14,998 shares of the firm’s stock in a transaction dated Tuesday, June 30th. The stock was sold at an average price of $5.87, for a total value of $88,038.26. Following the completion of the transaction, the insider directly owned 298,277 shares in the company, valued at $1,750,885.99. This trade represents a 4.79% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 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 78,260 shares of company stock valued at $468,162 in the last ninety days. Corporate insiders own 1.73% of the company’s stock.

Institutional Investors Weigh In On Eos Energy Enterprises

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. State of New Jersey Common Pension Fund D bought a new position in shares of Eos Energy Enterprises in the fourth quarter worth approximately $1,834,000. Baker Avenue Asset Management LP bought a new stake in shares of Eos Energy Enterprises during the 4th quarter valued at $11,542,000. Vanguard Group Inc. raised its position in shares of Eos Energy Enterprises by 19.8% during the 4th quarter. Vanguard Group Inc. now owns 18,616,874 shares of the company’s stock valued at $213,349,000 after purchasing an additional 3,080,012 shares during the period. Park Avenue Securities LLC purchased a new position in shares of Eos Energy Enterprises during the 4th quarter valued at $4,307,000. Finally, Vaughan Nelson Investment Management L.P. purchased a new position in shares of Eos Energy Enterprises during the 4th quarter valued at $22,330,000. 54.87% of the stock is owned by hedge funds and other institutional investors.

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.