TD Cowen Forecasts Strong Price Appreciation for Eos Energy Enterprises (NASDAQ:EOSE) Stock

Eos Energy Enterprises (NASDAQ:EOSE) had its price objective increased by equities researchers at TD Cowen from $7.00 to $8.00 in a research report issued on Thursday, MarketBeat reports. The firm currently has a “hold” rating on the stock. TD Cowen’s price objective suggests a potential upside of 1.78% from the company’s previous close.

EOSE has been the topic of several other research reports. Weiss Ratings restated a “sell (d-)” rating on shares of Eos Energy Enterprises in a research note on Tuesday, April 21st. Zacks Research upgraded shares of Eos Energy Enterprises from a “strong sell” rating to a “hold” rating in a research note on Tuesday, April 28th. Wall Street Zen cut shares of Eos Energy Enterprises from a “sell” rating to a “strong sell” rating in a report on Saturday, April 18th. Guggenheim reiterated a “neutral” rating and issued a $20.00 price objective on shares of Eos Energy Enterprises in a report on Friday, February 27th. Finally, JPMorgan Chase & Co. decreased their price objective on shares of Eos Energy Enterprises from $9.00 to $6.00 and set a “neutral” rating for the company in a report on Thursday, April 16th. One research analyst has rated the stock with a Buy rating, seven have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $10.93.

Eos Energy Enterprises Trading Down 3.8%

Shares of NASDAQ:EOSE opened at $7.86 on Thursday. The firm’s 50 day moving average is $6.22 and its two-hundred day moving average is $11.04. Eos Energy Enterprises has a 52 week low of $3.69 and a 52 week high of $19.86. The firm has a market capitalization of $2.67 billion, a P/E ratio of -1.18 and a beta of 2.56.

Eos Energy Enterprises (NASDAQ:EOSE) last announced its quarterly earnings results on Wednesday, May 13th. The company reported $0.12 EPS for the quarter, beating the consensus estimate of ($0.22) by $0.34. The firm had revenue of $56.96 million during the quarter, compared to analyst estimates of $54.32 million. Analysts predict that Eos Energy Enterprises will post -0.9 EPS for the current year.

Insider Activity

In related news, Director David Urban acquired 16,250 shares of the firm’s stock in a transaction dated Monday, March 9th. The stock was acquired at an average cost of $6.16 per share, for a total transaction of $100,100.00. Following the completion of the acquisition, the director directly owned 62,471 shares of the company’s stock, valued at approximately $384,821.36. The trade was a 35.16% increase in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Alexander Dimitrief acquired 15,000 shares of the firm’s stock in a transaction dated Monday, March 2nd. The stock was bought at an average price of $6.04 per share, with a total value of $90,600.00. Following the completion of the acquisition, the director directly owned 235,221 shares of the company’s stock, valued at approximately $1,420,734.84. This represents a 6.81% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders purchased 115,150 shares of company stock worth $692,962 over the last three months. Corporate insiders own 1.73% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. PNC Financial Services Group Inc. boosted its holdings in Eos Energy Enterprises by 3,843.8% during the fourth quarter. PNC Financial Services Group Inc. now owns 2,524 shares of the company’s stock worth $29,000 after buying an additional 2,460 shares in the last quarter. Chung Wu Investment Group LLC bought a new stake in Eos Energy Enterprises during the third quarter worth approximately $30,000. Towarzystwo Funduszy Inwestycyjnych PZU SA boosted its holdings in Eos Energy Enterprises by 58.8% during the fourth quarter. Towarzystwo Funduszy Inwestycyjnych PZU SA now owns 2,700 shares of the company’s stock worth $31,000 after buying an additional 1,000 shares in the last quarter. Danske Bank A S bought a new stake in Eos Energy Enterprises during the fourth quarter worth approximately $33,000. Finally, TD Waterhouse Canada Inc. boosted its holdings in 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 buying an additional 2,000 shares in the last quarter. 54.87% of the stock is currently owned by 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.