Eos Energy Enterprises, Inc. (NASDAQ:EOSE) Receives $11.93 Consensus Target Price from Brokerages

Shares of Eos Energy Enterprises, Inc. (NASDAQ:EOSE) have been given a consensus rating of “Hold” by the eleven brokerages that are covering the firm, MarketBeat.com reports. Two analysts have rated the stock with a sell recommendation, seven have issued a hold recommendation and two have issued a buy recommendation on the company. The average 12 month price target among brokers that have issued a report on the stock in the last year is $12.4375.

A number of equities research analysts have recently commented on EOSE shares. Jefferies Financial Group started coverage on shares of Eos Energy Enterprises in a research note on Friday, September 5th. They set a “hold” rating and a $6.50 price objective on the stock. Roth Capital set a $12.00 price target on shares of Eos Energy Enterprises and gave the company a “neutral” rating in a research report on Wednesday, October 22nd. B. Riley upped their price objective on shares of Eos Energy Enterprises from $8.00 to $12.00 and gave the stock a “neutral” rating in a research report on Tuesday, November 11th. Wall Street Zen cut Eos Energy Enterprises from a “hold” rating to a “sell” rating in a research report on Saturday, November 8th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Eos Energy Enterprises in a research note on Wednesday, October 8th.

Eos Energy Enterprises Stock Up 6.2%

Eos Energy Enterprises stock opened at $13.07 on Wednesday. The stock has a 50-day moving average price of $14.86 and a 200 day moving average price of $9.63. The company has a market capitalization of $3.77 billion, a price-to-earnings ratio of -1.56 and a beta of 2.15. Eos Energy Enterprises has a 52 week low of $3.07 and a 52 week high of $19.86.

Eos Energy Enterprises (NASDAQ:EOSE) last posted its quarterly earnings results on Wednesday, November 5th. The company reported ($2.77) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.31) by ($2.46). The business had revenue of $30.51 million for the quarter, compared to the consensus estimate of $39.55 million. Research analysts anticipate that Eos Energy Enterprises will post -2.54 EPS for the current fiscal year.

Insider Buying and Selling

In related news, Director Marian Walters sold 50,000 shares of the company’s stock in a transaction dated Thursday, December 4th. The shares were sold at an average price of $15.81, for a total transaction of $790,500.00. Following the completion of the transaction, the director owned 135,334 shares in the company, valued at $2,139,630.54. This represents a 26.98% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Russell Monoki Stidolph sold 29,999 shares of Eos Energy Enterprises stock in a transaction dated Monday, December 8th. The stock was sold at an average price of $15.36, for a total value of $460,784.64. Following the completion of the sale, the director owned 2,123,273 shares in the company, valued at approximately $32,613,473.28. The trade was a 1.39% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 816,134 shares of company stock valued at $12,262,335 over the last 90 days. Company insiders own 3.30% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of EOSE. Fiduciary Planning LLC acquired a new position in Eos Energy Enterprises during the second quarter worth $236,000. Cetera Investment Advisers acquired a new stake in shares of Eos Energy Enterprises in the first quarter valued at $197,000. Vanguard Group Inc. boosted its holdings in Eos Energy Enterprises by 0.6% in the first quarter. Vanguard Group Inc. now owns 10,362,810 shares of the company’s stock valued at $39,171,000 after purchasing an additional 59,762 shares during the period. Brightline Capital Management LLC grew its stake in Eos Energy Enterprises by 2.9% during the 1st quarter. Brightline Capital Management LLC now owns 1,707,000 shares of the company’s stock worth $6,452,000 after purchasing an additional 48,000 shares in the last quarter. Finally, Concurrent Investment Advisors LLC purchased a new stake in Eos Energy Enterprises during the 2nd quarter worth about $548,000. 54.87% of the stock is owned by hedge funds and other institutional investors.

Eos Energy Enterprises Company Profile

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.