Eos Energy Enterprises, Inc. (NASDAQ:EOSE) Given Consensus Recommendation of “Hold” by Brokerages

Shares of Eos Energy Enterprises, Inc. (NASDAQ:EOSE) have been assigned a consensus rating of “Hold” from the ten analysts that are presently covering the stock, Marketbeat.com reports. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating and two have given a buy rating to the company. The average 12 month target price among brokerages that have updated their coverage on the stock in the last year is $11.3571.

EOSE has been the topic of several recent analyst reports. Wall Street Zen upgraded shares of Eos Energy Enterprises from a “sell” rating to a “hold” rating in a report on Saturday, October 25th. B. Riley upped their price target on shares of Eos Energy Enterprises from $5.00 to $8.00 and gave the stock a “neutral” rating in a research report on Tuesday, September 30th. Jefferies Financial Group began coverage on shares of Eos Energy Enterprises in a report on Friday, September 5th. They issued a “hold” rating and a $6.50 price target on the stock. Guggenheim boosted their price objective on shares of Eos Energy Enterprises from $10.00 to $20.00 and gave the company a “buy” rating in a research note on Wednesday, October 22nd. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Eos Energy Enterprises in a report on Wednesday, October 8th.

Insiders Place Their Bets

In other Eos Energy Enterprises news, Director Marian Walters sold 50,000 shares of the company’s stock in a transaction dated Wednesday, September 3rd. The stock was sold at an average price of $7.90, for a total transaction of $395,000.00. Following the completion of the sale, the director directly owned 133,794 shares in the company, valued at $1,056,972.60. This represents a 27.20% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Alexander Dimitrief sold 45,000 shares of Eos Energy Enterprises stock in a transaction dated Monday, August 4th. The shares were sold at an average price of $6.00, for a total value of $270,000.00. Following the completion of the transaction, the director directly owned 219,452 shares in the company, valued at $1,316,712. This represents a 17.02% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 135,501 shares of company stock worth $952,962 over the last three months. 3.30% of the stock is owned by insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Farther Finance Advisors LLC increased its position in shares of Eos Energy Enterprises by 33.0% in the third quarter. Farther Finance Advisors LLC now owns 3,325 shares of the company’s stock worth $38,000 after acquiring an additional 825 shares in the last quarter. CWM LLC lifted its holdings in shares of Eos Energy Enterprises by 162.9% during the 3rd quarter. CWM LLC now owns 3,994 shares of the company’s stock valued at $45,000 after acquiring an additional 2,475 shares in the last quarter. Copia Wealth Management boosted its position in Eos Energy Enterprises by 54.7% during the 3rd quarter. Copia Wealth Management now owns 4,796 shares of the company’s stock worth $55,000 after purchasing an additional 1,696 shares during the period. Skandinaviska Enskilda Banken AB publ acquired a new stake in Eos Energy Enterprises in the 2nd quarter valued at $39,000. Finally, Amalgamated Bank acquired a new stake in Eos Energy Enterprises in the 2nd quarter valued at $39,000. 54.87% of the stock is owned by institutional investors and hedge funds.

Eos Energy Enterprises Trading Up 11.9%

Eos Energy Enterprises stock opened at $16.03 on Tuesday. The stock has a fifty day moving average price of $11.36 and a 200 day moving average price of $7.47. Eos Energy Enterprises has a 52 week low of $2.06 and a 52 week high of $19.05. The firm has a market capitalization of $4.17 billion, a P/E ratio of -3.07 and a beta of 2.29.

Eos Energy Enterprises (NASDAQ:EOSE) last issued its quarterly earnings results on Wednesday, July 30th. The company reported ($1.05) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.17) by ($0.88). The business had revenue of $15.24 million during the quarter, compared to analysts’ expectations of $24.96 million. As a group, equities analysts predict that Eos Energy Enterprises will post -2.54 EPS for the current year.

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.