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

Shares of Eos Energy Enterprises, Inc. (NASDAQ:EOSE) have been given a consensus rating of “Hold” by the nine research firms that are currently covering the company, Marketbeat.com reports. One research analyst has rated the stock with a sell rating, six have given a hold rating and two have given a buy rating to the company. The average 1-year price objective among analysts that have issued a report on the stock in the last year is $13.50.

Several research firms have issued reports on EOSE. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Eos Energy Enterprises in a research note on Thursday, January 22nd. Stifel Nicolaus raised their target price 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. Wall Street Zen downgraded Eos Energy Enterprises from a “hold” rating to a “sell” rating in a report on Saturday, November 8th. Roth Mkm set a $12.00 price target on Eos Energy Enterprises and gave the stock a “neutral” rating in a research note on Wednesday, October 22nd. Finally, Guggenheim lifted their price objective on Eos Energy Enterprises from $10.00 to $20.00 and gave the company a “buy” rating in a research report on Wednesday, October 22nd.

Eos Energy Enterprises Stock Down 13.9%

Shares of NASDAQ:EOSE opened at $12.40 on Thursday. Eos Energy Enterprises has a 52-week low of $3.07 and a 52-week high of $19.86. The stock’s fifty day simple moving average is $14.46 and its 200-day simple moving average is $11.97. The company has a market capitalization of $3.57 billion, a P/E ratio of -1.48 and a beta of 2.13.

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

Insiders Place Their Bets

In related news, Director Russell Monoki Stidolph sold 29,999 shares of the firm’s stock in a transaction that occurred on Monday, December 8th. The shares were sold at an average price of $15.36, for a total value of $460,784.64. Following the sale, the director directly owned 2,123,273 shares of the company’s stock, valued at approximately $32,613,473.28. This trade represents a 1.39% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Michael W. Silberman sold 41,667 shares of the company’s stock in a transaction that occurred on Friday, January 23rd. The stock was sold at an average price of $17.74, for a total transaction of $739,172.58. Following the transaction, the insider directly owned 283,279 shares of the company’s stock, valued at $5,025,369.46. This trade represents a 12.82% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 907,801 shares of company stock worth $13,803,507 over the last 90 days. Corporate insiders own 3.30% of the company’s stock.

Institutional Trading of Eos Energy Enterprises

Several institutional investors have recently made changes to their positions in the stock. VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new stake in shares of Eos Energy Enterprises during the 4th quarter worth $171,000. Swiss Life Asset Management Ltd increased its stake in Eos Energy Enterprises by 31.3% during the fourth quarter. Swiss Life Asset Management Ltd now owns 14,796 shares of the company’s stock worth $170,000 after acquiring an additional 3,523 shares during the last quarter. Flagship Private Wealth LLC increased its stake in Eos Energy Enterprises by 6.9% during the fourth quarter. Flagship Private Wealth LLC now owns 103,606 shares of the company’s stock worth $1,187,000 after acquiring an additional 6,651 shares during the last quarter. NewEdge Wealth LLC purchased a new position in shares of Eos Energy Enterprises in the 4th quarter worth about $197,000. Finally, International Assets Investment Management LLC acquired a new position in shares of Eos Energy Enterprises in the 4th quarter valued at about $124,000. 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.