Eos Energy Enterprises, Inc. (NASDAQ:EOSE) Stock Has Average Price Target of $7.69 According to Brokerages

Shares of Eos Energy Enterprises, Inc. (NASDAQ:EOSE – Get Free Report) have earned a consensus rating of “Hold” from the ten ratings firms that are currently covering the firm, MarketBeat Ratings reports. Seven analysts have rated the stock with a hold recommendation, two have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 1 year price target among brokers that have issued a report on the stock in the last year is $6.69.

A number of research analysts have weighed in on the stock. Needham & Company LLC cut their price objective on shares of Eos Energy Enterprises from $10.00 to $6.00 and set a “buy” rating for the company in a report on Monday, October 19th. B. Riley Financial lowered their target price on shares of Eos Energy Enterprises from $5.00 to $2.00 and set a “neutral” rating on the stock in a research note on Monday. Weiss Ratings upgraded Eos Energy Enterprises from a “sell (d-)” rating to a “hold (c-)” rating in a research report on Monday. Wall Street Zen downgraded Eos Energy Enterprises from a “sell” rating to a “strong sell” rating in a research note on Saturday, August 8th. Finally, Roth Capital upped their target price on Eos Energy Enterprises from $4.00 to $4.50 and gave the stock a “neutral” rating in a research note on Thursday, September 10th.

View Our Latest Stock Report on Eos Energy Enterprises

Eos Energy Enterprises Price Performance

NASDAQ:EOSE opened at $1.99 on Friday. The company’s fifty day moving average price is $2.79 and its 200-day moving average price is $5.74. Eos Energy Enterprises has a 1-year low of $1.59 and a 1-year high of $19.65. The firm has a market capitalization of $724.69 million, a P/E ratio of -0.95 and a beta of 3.17.

Eos Energy Enterprises (NASDAQ:EOSE – Get Free Report) last posted its earnings results on Thursday, November 5th. The company reported ($0.17) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.24) by $0.07. Eos Energy Enterprises had a net margin of 89.23% and a negative return on equity of 20.68%. The company had revenue of $82.73 million during the quarter, compared to the consensus estimate of $81.60 million. Equities analysts anticipate that Eos Energy Enterprises will post -1.26 EPS for the current fiscal year.

Insider Activity at Eos Energy Enterprises

In other Eos Energy Enterprises news, CAO Sumeet Puri sold 43,750 shares of the company’s stock in a transaction on Wednesday, September 16th. The shares were sold at an average price of $3.92, for a total transaction of $171,500.00. Following the completion of the transaction, the chief accounting officer directly owned 280,195 shares in the company, valued at approximately $1,098,364.40. This represents a 13.51% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible 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, CEO Joe Mastrangelo sold 250,000 shares of the stock in a transaction on Wednesday, September 16th. The shares were sold at an average price of $3.92, for a total transaction of $980,000.00. Following the transaction, the chief executive officer directly owned 2,308,704 shares in the company, valued at approximately $9,050,119.68. The trade was a 9.77% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 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. Insiders sold a total of 377,917 shares of company stock worth $1,392,610 in the last quarter. 1.73% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of EOSE. Renaissance Technologies LLC purchased a new stake in shares of Eos Energy Enterprises in the first quarter valued at approximately $9,152,000. Quantinno Capital Management LP lifted its position in Eos Energy Enterprises by 8,418.9% during the first quarter. Quantinno Capital Management LP now owns 1,078,070 shares of the company’s stock worth $5,347,000 after buying an additional 1,065,415 shares in the last quarter. Wellington Management Group LLP boosted its stake in Eos Energy Enterprises by 475.8% during the second quarter. Wellington Management Group LLP now owns 1,155,515 shares of the company’s stock worth $6,794,000 after buying an additional 954,828 shares during the last quarter. Bank of New York Mellon Corp acquired a new position in Eos Energy Enterprises during the second quarter worth $5,530,000. Finally, Bank of America Corp DE grew its holdings in Eos Energy Enterprises by 89.1% in the 1st quarter. Bank of America Corp DE now owns 1,247,548 shares of the company’s stock valued at $6,188,000 after buying an additional 587,752 shares in the last quarter. Institutional investors and hedge funds own 54.87% of the company’s stock.

Eos Energy Enterprises Company Profile

(Get Free Report)

Eos Energy Enterprises, Inc. develops and manufactures zinc-based battery energy storage systems. Its aqueous zinc battery technology is designed for stationary, long-duration storage, providing an alternative to lithium-ion systems for applications that require electricity to be stored and delivered over extended periods. The company’s products include the Eos Z3 battery system, which is intended for grid-scale and commercial and industrial uses, such as supporting renewable energy integration and helping manage electricity supply and demand.

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Analyst Recommendations for Eos Energy Enterprises (NASDAQ:EOSE)

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