Eos Energy Enterprises (NASDAQ:EOSE) Upgraded at Zacks Investment Research

Zacks Investment Research upgraded shares of Eos Energy Enterprises (NASDAQ:EOSEGet Rating) from a sell rating to a hold rating in a research note published on Wednesday morning, Zacks.com reports.

According to Zacks, “Eos Energy Storage LLC is a manufacturer of zinc battery storage systems. Eos Energy Storage LLC, formerly known as B. Riley Principal Merger Corp. II, is headquartered in Edison, New Jersey. “

Several other equities analysts also recently commented on the stock. Guggenheim initiated coverage on shares of Eos Energy Enterprises in a research note on Tuesday, March 22nd. They issued a neutral rating on the stock. B. Riley decreased their price target on shares of Eos Energy Enterprises from $13.00 to $7.00 in a research note on Wednesday, May 11th. Three research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat, the company has a consensus rating of Buy and an average target price of $19.00.

Shares of EOSE opened at $1.50 on Wednesday. The firm has a market capitalization of $81.67 million, a PE ratio of -0.54 and a beta of 2.22. The company’s 50-day moving average is $2.69 and its 200-day moving average is $4.86. Eos Energy Enterprises has a fifty-two week low of $1.00 and a fifty-two week high of $21.80. The company has a debt-to-equity ratio of 3.16, a current ratio of 2.84 and a quick ratio of 2.54.

Eos Energy Enterprises (NASDAQ:EOSEGet Rating) last released its quarterly earnings results on Tuesday, May 10th. The company reported ($0.85) EPS for the quarter, missing the consensus estimate of ($0.56) by ($0.29). Eos Energy Enterprises had a negative net margin of 1,921.25% and a negative return on equity of 317.81%. During the same quarter last year, the company earned ($0.42) earnings per share. Analysts predict that Eos Energy Enterprises will post -2.45 earnings per share for the current fiscal year.

In related news, Director Claude Demby purchased 13,200 shares of Eos Energy Enterprises stock in a transaction dated Thursday, March 3rd. The shares were bought at an average cost of $3.79 per share, for a total transaction of $50,028.00. The acquisition was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Joe Mastrangelo purchased 70,000 shares of Eos Energy Enterprises stock in a transaction dated Thursday, May 12th. The stock was bought at an average price of $1.40 per share, for a total transaction of $98,000.00. Following the completion of the purchase, the chief executive officer now owns 338,727 shares in the company, valued at approximately $474,217.80. The disclosure for this purchase can be found here. Insiders have acquired 206,350 shares of company stock worth $474,779 over the last quarter. Corporate insiders own 8.00% of the company’s stock.

Several institutional investors and hedge funds have recently bought and sold shares of EOSE. Invesco Ltd. boosted its stake in shares of Eos Energy Enterprises by 44.8% in the 1st quarter. Invesco Ltd. now owns 3,997,289 shares of the company’s stock valued at $16,709,000 after purchasing an additional 1,236,740 shares in the last quarter. BlackRock Inc. raised its holdings in Eos Energy Enterprises by 85.0% in the 3rd quarter. BlackRock Inc. now owns 2,548,190 shares of the company’s stock valued at $35,750,000 after buying an additional 1,170,714 shares during the last quarter. State Street Corp raised its holdings in Eos Energy Enterprises by 54.4% in the 4th quarter. State Street Corp now owns 1,865,193 shares of the company’s stock valued at $14,026,000 after buying an additional 656,842 shares during the last quarter. Legal & General Group Plc raised its holdings in Eos Energy Enterprises by 28.8% in the 4th quarter. Legal & General Group Plc now owns 2,899,961 shares of the company’s stock valued at $21,808,000 after buying an additional 649,155 shares during the last quarter. Finally, JPMorgan Chase & Co. raised its holdings in Eos Energy Enterprises by 3,665.1% in the 1st quarter. JPMorgan Chase & Co. now owns 624,856 shares of the company’s stock valued at $2,612,000 after buying an additional 608,260 shares during the last quarter. Institutional investors own 64.36% of the company’s stock.

About Eos Energy Enterprises (Get Rating)

Eos Energy Enterprises, Inc designs, manufactures, and deploys battery storage solutions for utility, commercial and industrial, and renewable energy markets in the United States. It offers stationary battery storage solutions. The company's flagship product is the Eos Znyth DC battery system designed to meet the requirements of the grid-scale energy storage market.

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