Q1 2024 EPS Estimates for Eos Energy Enterprises, Inc. (NASDAQ:EOSE) Reduced by Analyst

Eos Energy Enterprises, Inc. (NASDAQ:EOSE) – Research analysts at B. Riley dropped their Q1 2024 earnings estimates for shares of Eos Energy Enterprises in a report issued on Wednesday, April 24th. B. Riley analyst C. Souther now anticipates that the company will post earnings per share of ($0.33) for the quarter, down from their prior forecast of ($0.31). The consensus estimate for Eos Energy Enterprises’ current full-year earnings is ($0.74) per share. B. Riley also issued estimates for Eos Energy Enterprises’ Q2 2024 earnings at ($0.34) EPS, Q3 2024 earnings at ($0.35) EPS, Q4 2024 earnings at ($0.23) EPS, FY2024 earnings at ($1.23) EPS, FY2025 earnings at ($0.68) EPS and FY2026 earnings at $0.35 EPS.

Other analysts also recently issued research reports about the stock. Evercore ISI cut their price target on shares of Eos Energy Enterprises from $12.00 to $7.00 and set an “outperform” rating for the company in a report on Wednesday, March 6th. Guggenheim dropped their target price on shares of Eos Energy Enterprises from $10.00 to $4.00 and set a “buy” rating for the company in a report on Thursday, March 7th. Two analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat, Eos Energy Enterprises presently has an average rating of “Moderate Buy” and a consensus price target of $6.08.

Eos Energy Enterprises Price Performance

Shares of NASDAQ EOSE opened at $0.81 on Friday. The company has a 50 day simple moving average of $0.95 and a 200-day simple moving average of $1.14. The company has a market capitalization of $163.29 million, a P/E ratio of -0.37 and a beta of 2.23. Eos Energy Enterprises has a 1 year low of $0.70 and a 1 year high of $5.67.

Eos Energy Enterprises (NASDAQ:EOSE) last announced its quarterly earnings results on Monday, March 4th. The company reported ($0.16) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.22) by $0.06. The firm had revenue of $6.61 million for the quarter.

Institutional Trading of Eos Energy Enterprises

Several institutional investors have recently added to or reduced their stakes in the stock. Exchange Traded Concepts LLC purchased a new position in Eos Energy Enterprises in the 3rd quarter valued at approximately $35,000. Canal Insurance CO purchased a new position in Eos Energy Enterprises in the 3rd quarter valued at approximately $86,000. Mirae Asset Global Investments Co. Ltd. boosted its position in Eos Energy Enterprises by 2.5% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,414,140 shares of the company’s stock valued at $7,340,000 after buying an additional 82,639 shares during the period. James Investment Research Inc. purchased a new position in Eos Energy Enterprises in the 3rd quarter valued at approximately $202,000. Finally, SCP Investment LP purchased a new position in Eos Energy Enterprises in the 3rd quarter valued at approximately $169,000. Institutional investors and hedge funds own 54.87% of the company’s stock.

About Eos Energy Enterprises

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.