Wall Street Zen Upgrades Eos Energy Enterprises (NASDAQ:EOSE) to Hold

Eos Energy Enterprises (NASDAQ:EOSE) was upgraded by equities research analysts at Wall Street Zen from a “sell” rating to a “hold” rating in a research note issued on Sunday.

A number of other equities research analysts have also recently weighed in on the stock. TD Cowen upped their price objective on shares of Eos Energy Enterprises from $7.00 to $8.00 and gave the stock a “hold” rating in a report on Thursday, May 14th. Zacks Research upgraded shares of Eos Energy Enterprises from a “strong sell” rating to a “hold” rating in a report on Tuesday, April 28th. Roth Mkm dropped their price target on Eos Energy Enterprises from $12.00 to $6.00 and set a “neutral” rating on the stock in a research report on Friday, February 27th. JPMorgan Chase & Co. cut their price target on Eos Energy Enterprises from $9.00 to $6.00 and set a “neutral” rating on the stock in a research note on Thursday, April 16th. Finally, Guggenheim restated a “neutral” rating and issued a $20.00 price target on shares of Eos Energy Enterprises in a research note on Friday, February 27th. Two research analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $10.94.

Eos Energy Enterprises Price Performance

NASDAQ:EOSE opened at $7.65 on Friday. The firm’s 50-day moving average price is $7.32 and its 200-day moving average price is $9.77. The company has a market capitalization of $2.60 billion, a PE ratio of -1.15 and a beta of 2.62. Eos Energy Enterprises has a 1-year low of $4.18 and a 1-year high of $19.86.

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

Insider Buying and Selling at Eos Energy Enterprises

In related news, Director Marian Walters sold 7,681 shares of the business’s stock in a transaction that occurred on Tuesday, May 19th. The shares were sold at an average price of $7.07, for a total value of $54,304.67. Following the completion of the transaction, the director directly owned 135,334 shares in the company, valued at $956,811.38. The trade was a 5.37% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 1.73% of the stock is owned by company insiders.

Institutional Trading of Eos Energy Enterprises

Institutional investors have recently added to or reduced their stakes in the business. PNC Financial Services Group Inc. raised its stake in shares of Eos Energy Enterprises by 3,843.8% in the fourth quarter. PNC Financial Services Group Inc. now owns 2,524 shares of the company’s stock worth $29,000 after purchasing an additional 2,460 shares during the last quarter. Towarzystwo Funduszy Inwestycyjnych PZU SA boosted its position in shares of Eos Energy Enterprises by 58.8% during the fourth quarter. Towarzystwo Funduszy Inwestycyjnych PZU SA now owns 2,700 shares of the company’s stock valued at $31,000 after buying an additional 1,000 shares during the last quarter. Danske Bank A S bought a new stake in Eos Energy Enterprises in the 4th quarter worth about $33,000. TD Waterhouse Canada Inc. increased its holdings in Eos Energy Enterprises by 178.7% in the 4th quarter. TD Waterhouse Canada Inc. now owns 3,119 shares of the company’s stock worth $36,000 after buying an additional 2,000 shares in the last quarter. Finally, GAMMA Investing LLC raised its position in Eos Energy Enterprises by 46.4% in the 4th quarter. GAMMA Investing LLC now owns 3,270 shares of the company’s stock worth $37,000 after buying an additional 1,036 shares during the last quarter. 54.87% of the stock is currently 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.