Shares of Eos Energy Enterprises, Inc. (NASDAQ:EOSE – Get Free Report) have been assigned a consensus recommendation of “Hold” from the ten ratings firms that are currently covering the stock, Marketbeat.com reports. One investment analyst has rated the stock with a sell recommendation, seven have assigned a hold recommendation and two have issued a buy recommendation on the company. The average 1-year target price among brokers that have updated their coverage on the stock in the last year is $10.9375.
EOSE has been the subject of a number of research analyst reports. TD Cowen lifted their target price on Eos Energy Enterprises from $7.00 to $8.00 and gave the company a “hold” rating in a research report on Thursday, May 14th. 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. Wall Street Zen lowered Eos Energy Enterprises from a “hold” rating to a “sell” rating in a research note on Saturday, July 4th. Needham & Company LLC initiated coverage on Eos Energy Enterprises in a report on Friday, May 22nd. They issued a “buy” rating and a $11.00 price objective for the company. Finally, Zacks Research raised shares of Eos Energy Enterprises from a “strong sell” rating to a “hold” rating in a research note on Tuesday, April 28th.
Get Our Latest Stock Report on Eos Energy Enterprises
Eos Energy Enterprises Trading Down 3.9%
Eos Energy Enterprises (NASDAQ:EOSE – Get Free Report) last announced 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 firm had revenue of $56.96 million during the quarter, compared to analysts’ expectations of $54.32 million. As a group, research analysts anticipate that Eos Energy Enterprises will post -0.31 EPS for the current fiscal year.
Insiders Place Their Bets
In other news, CAO Sumeet Puri sold 8,823 shares of the business’s stock in a transaction dated Tuesday, June 30th. The shares were sold at an average price of $5.86, for a total value of $51,702.78. Following the completion of the sale, the chief accounting officer owned 173,112 shares in the company, valued at approximately $1,014,436.32. The trade was a 4.85% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 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. Also, CFO Nathan Kroeker sold 79,309 shares of the company’s stock in a transaction that occurred on Tuesday, July 7th. The stock was sold at an average price of $4.68, for a total transaction of $371,166.12. Following the completion of the sale, the chief financial officer directly owned 777,110 shares of the company’s stock, valued at $3,636,874.80. The trade was a 9.26% 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. In the last 90 days, insiders have sold 157,569 shares of company stock worth $839,328. 1.73% of the stock is owned by corporate insiders.
Institutional Trading of Eos Energy Enterprises
Hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. raised its position in shares of Eos Energy Enterprises by 19.8% in the 4th quarter. Vanguard Group Inc. now owns 18,616,874 shares of the company’s stock worth $213,349,000 after acquiring an additional 3,080,012 shares in the last quarter. Rubric Capital Management LP purchased a new stake in shares of Eos Energy Enterprises during the 3rd quarter worth $117,317,000. State Street Corp boosted its position in Eos Energy Enterprises by 6.1% during the fourth quarter. State Street Corp now owns 7,689,841 shares of the company’s stock valued at $88,126,000 after purchasing an additional 443,809 shares in the last quarter. Geode Capital Management LLC boosted its position in Eos Energy Enterprises by 16.1% during the fourth quarter. Geode Capital Management LLC now owns 7,205,507 shares of the company’s stock valued at $82,587,000 after purchasing an additional 998,332 shares in the last quarter. Finally, Goldman Sachs Group Inc. grew its stake in Eos Energy Enterprises by 36.8% in the first quarter. Goldman Sachs Group Inc. now owns 3,900,513 shares of the company’s stock valued at $14,744,000 after purchasing an additional 1,050,128 shares during the last quarter. Hedge funds and other institutional investors own 54.87% of the company’s stock.
About Eos Energy Enterprises
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.
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