Eos Energy Enterprises, Inc. (NASDAQ:EOSE) Given Consensus Rating of “Hold” by Brokerages

Shares of Eos Energy Enterprises, Inc. (NASDAQ:EOSE) have earned an average recommendation of “Hold” from the ten analysts that are currently covering the stock, Marketbeat reports. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and two have given a buy rating to the company. The average 1-year price objective among brokerages that have updated their coverage on the stock in the last year is $10.9375.

A number of equities analysts have recently issued reports on EOSE shares. TD Cowen increased their target price on Eos Energy Enterprises from $7.00 to $8.00 and gave the stock a “hold” rating in a report on Thursday, May 14th. Weiss Ratings reissued a “sell (d-)” rating on shares of Eos Energy Enterprises in a report on Tuesday, April 21st. Needham & Company LLC started coverage on Eos Energy Enterprises in a report on Friday, May 22nd. They issued a “buy” rating and a $11.00 target price for the company. Zacks Research raised Eos Energy Enterprises from a “strong sell” rating to a “hold” rating in a report on Tuesday, April 28th. Finally, B. Riley Financial dropped their target price on Eos Energy Enterprises from $12.00 to $8.00 and set a “neutral” rating for the company in a report on Thursday, March 5th.

Insider Activity

In other news, Director Marian Walters sold 7,681 shares of the stock in a transaction that occurred on Tuesday, May 19th. The stock was sold at an average price of $7.07, for a total value of $54,304.67. Following the completion of the transaction, the director directly owned 135,334 shares of the company’s stock, valued at approximately $956,811.38. This represents a 5.37% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 1.73% of the company’s stock.

Institutional Investors Weigh In On Eos Energy Enterprises

A number of large investors have recently bought and sold shares of the business. PNC Financial Services Group Inc. raised its position in Eos Energy Enterprises by 3,843.8% in the 4th quarter. PNC Financial Services Group Inc. now owns 2,524 shares of the company’s stock valued at $29,000 after purchasing an additional 2,460 shares during the last quarter. Towarzystwo Funduszy Inwestycyjnych PZU SA boosted its stake in Eos Energy Enterprises by 58.8% in the fourth quarter. Towarzystwo Funduszy Inwestycyjnych PZU SA now owns 2,700 shares of the company’s stock worth $31,000 after purchasing an additional 1,000 shares in the last quarter. Danske Bank A S bought a new stake in shares of Eos Energy Enterprises during the fourth quarter worth $33,000. TD Waterhouse Canada Inc. grew its holdings in shares of Eos Energy Enterprises by 178.7% during the fourth quarter. TD Waterhouse Canada Inc. now owns 3,119 shares of the company’s stock worth $36,000 after purchasing an additional 2,000 shares during the last quarter. Finally, GAMMA Investing LLC increased its stake in shares of Eos Energy Enterprises by 46.4% in the fourth quarter. GAMMA Investing LLC now owns 3,270 shares of the company’s stock valued at $37,000 after buying an additional 1,036 shares in the last quarter. 54.87% of the stock is currently owned by institutional investors.

Eos Energy Enterprises Stock Down 6.4%

Eos Energy Enterprises stock opened at $6.26 on Wednesday. Eos Energy Enterprises has a 12 month low of $3.88 and a 12 month high of $19.86. The business has a 50 day moving average price of $7.00 and a two-hundred day moving average price of $10.13. The stock has a market cap of $2.13 billion, a price-to-earnings ratio of -0.94 and a beta of 2.62.

Eos Energy Enterprises (NASDAQ:EOSE) last issued its earnings results on Wednesday, May 13th. The company reported $0.12 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.22) by $0.34. The company had revenue of $56.96 million during the quarter, compared to analyst estimates of $54.32 million. On average, analysts expect that Eos Energy Enterprises will post -0.31 earnings per share for the current fiscal year.

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.