Eos Energy Enterprises, Inc. (NASDAQ:EOSE – Get Free Report) has earned a consensus rating of “Hold” from the ten brokerages that are covering the stock, Marketbeat.com reports. One investment analyst has rated the stock with a sell recommendation, six have given a hold recommendation, two have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 12 month price objective among brokers that have issued a report on the stock in the last year is $8.19.
EOSE has been the subject of a number of recent research reports. TD Cowen upgraded shares of Eos Energy Enterprises to a “hold” rating in a research note on Monday, October 5th. Needham & Company LLC decreased their target price on shares of Eos Energy Enterprises from $11.00 to $10.00 and set a “buy” rating on the stock in a research report on Tuesday, September 15th. Truist Financial initiated coverage on shares of Eos Energy Enterprises in a research note on Monday, July 13th. They issued a “buy” rating and a $7.00 target price on the stock. Weiss Ratings reissued a “sell (d-)” rating on shares of Eos Energy Enterprises in a research report on Friday, July 17th. Finally, B. Riley Financial cut their price target on shares of Eos Energy Enterprises from $8.00 to $5.00 and set a “neutral” rating for the company in a research note on Friday, August 14th.
View Our Latest Stock Report on Eos Energy Enterprises
Insider Buying and Selling
In related news, insider Nathan Kroeker sold 110,417 shares of the firm’s stock in a transaction that occurred on Tuesday, July 28th. The stock was sold at an average price of $3.36, for a total transaction of $371,001.12. Following the completion of the transaction, the insider owned 887,527 shares in the company, valued at $2,982,090.72. This trade represents a 11.06% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 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 firm’s stock in a transaction that occurred on Wednesday, September 16th. The stock was sold at an average price of $3.92, for a total value of $980,000.00. Following the transaction, the chief executive officer owned 2,308,704 shares of the company’s stock, valued at $9,050,119.68. This trade represents a 9.77% decrease in their position. 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. In the last 90 days, insiders have sold 626,655 shares of company stock valued at $2,336,158. 1.73% of the stock is currently owned by company insiders.
Institutional Trading of Eos Energy Enterprises
A number of large investors have recently bought and sold shares of EOSE. Renaissance Technologies LLC acquired a new position in Eos Energy Enterprises during the first quarter worth $9,152,000. First Trust Advisors LP lifted its holdings in shares of Eos Energy Enterprises by 3.7% during the first quarter. First Trust Advisors LP now owns 1,537,606 shares of the company’s stock valued at $7,627,000 after acquiring an additional 55,145 shares during the period. Bank of America Corp DE lifted its holdings in shares of Eos Energy Enterprises by 89.1% during the first quarter. Bank of America Corp DE now owns 1,247,548 shares of the company’s stock valued at $6,188,000 after acquiring an additional 587,752 shares during the period. Wellington Management Group LLP boosted its stake in shares of Eos Energy Enterprises by 475.8% in the 2nd quarter. Wellington Management Group LLP now owns 1,155,515 shares of the company’s stock valued at $6,794,000 after purchasing an additional 954,828 shares in the last quarter. Finally, Quantinno Capital Management LP boosted its stake in shares of Eos Energy Enterprises by 8,418.9% in the 1st quarter. Quantinno Capital Management LP now owns 1,078,070 shares of the company’s stock valued at $5,347,000 after purchasing an additional 1,065,415 shares in the last quarter. 54.87% of the stock is currently owned by institutional investors.
Eos Energy Enterprises Price Performance
Shares of EOSE stock opened at $2.16 on Tuesday. The stock has a market cap of $786.61 million, a P/E ratio of -0.32 and a beta of 2.88. Eos Energy Enterprises has a one year low of $1.85 and a one year high of $19.86. The stock has a fifty day moving average price of $3.50 and a 200 day moving average price of $5.19.
Eos Energy Enterprises (NASDAQ:EOSE – Get Free Report) last posted its quarterly earnings results on Wednesday, August 5th. The company reported ($1.20) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.19) by ($1.01). The business had revenue of $68.78 million for the quarter, compared to analysts’ expectations of $68.32 million. During the same quarter in the prior year, the company earned ($1.05) EPS. Equities research analysts anticipate that Eos Energy Enterprises will post -1.28 EPS for the current year.
Eos Energy Enterprises Company Profile
Eos Energy Enterprises, Inc develops and manufactures long-duration energy storage systems designed to support the electric grid and renewable energy projects. Its technology is based on aqueous zinc battery chemistry, which is intended to provide a safer, nonflammable alternative to conventional lithium-ion systems for stationary energy storage.
The company’s primary product is the Eos Z3 energy storage system, a modular, utility-scale battery platform designed for applications such as renewable energy integration, grid resilience, peak-load management, and microgrids.
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