Analysts Set Eos Energy Enterprises, Inc. (NASDAQ:EOSE) Price Target at $12.64

Eos Energy Enterprises, Inc. (NASDAQ:EOSE) has earned an average recommendation of “Hold” from the nine analysts that are covering the firm, MarketBeat Ratings reports. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and one has assigned a buy rating to the company. The average 12-month price target among analysts that have updated their coverage on the stock in the last year is $12.0714.

Several brokerages have recently issued reports on EOSE. Zacks Research raised shares of Eos Energy Enterprises from a “strong sell” rating to a “hold” rating in a report on Monday, January 12th. Guggenheim reaffirmed a “neutral” rating and set a $20.00 price target on shares of Eos Energy Enterprises in a research report on Friday, February 27th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Eos Energy Enterprises in a report on Thursday, January 22nd. JPMorgan Chase & Co. began coverage on shares of Eos Energy Enterprises in a report on Wednesday, December 17th. They set a “neutral” rating and a $16.00 target price on the stock. Finally, B. Riley Financial lowered their price objective on shares of Eos Energy Enterprises from $12.00 to $8.00 and set a “neutral” rating for the company in a research report on Thursday.

Insider Transactions at Eos Energy Enterprises

In other Eos Energy Enterprises news, insider Michael W. Silberman sold 41,667 shares of the business’s stock in a transaction dated Friday, January 23rd. The stock was sold at an average price of $17.74, for a total transaction of $739,172.58. Following the completion of the transaction, the insider owned 283,279 shares of the company’s stock, valued at approximately $5,025,369.46. The trade was a 12.82% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Joe Mastrangelo purchased 23,900 shares of the firm’s stock in a transaction that occurred on Wednesday, March 4th. The shares were bought at an average cost of $6.58 per share, for a total transaction of $157,262.00. Following the completion of the acquisition, the chief executive officer directly owned 1,487,126 shares in the company, valued at $9,785,289.08. The trade was a 1.63% increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders purchased a total of 98,900 shares of company stock worth $592,862 over the last ninety days. Corporate insiders own 3.30% of the company’s stock.

Hedge Funds Weigh In On Eos Energy Enterprises

Several hedge funds and other institutional investors have recently bought and sold shares of EOSE. L.K. Benson & Company P.C. bought a new stake in shares of Eos Energy Enterprises during the 3rd quarter valued at about $887,000. Hsbc Holdings PLC lifted its stake in Eos Energy Enterprises by 192.9% in the second quarter. Hsbc Holdings PLC now owns 129,626 shares of the company’s stock valued at $665,000 after buying an additional 85,371 shares during the period. DNB Asset Management AS lifted its stake in Eos Energy Enterprises by 22.4% in the third quarter. DNB Asset Management AS now owns 1,034,086 shares of the company’s stock valued at $11,778,000 after buying an additional 189,039 shares during the period. Udine Wealth Management Inc. purchased a new position in shares of Eos Energy Enterprises during the third quarter valued at approximately $2,015,000. Finally, Copperleaf Capital LLC bought a new stake in Eos Energy Enterprises in the 2nd quarter valued at about $1,639,000. Institutional investors and hedge funds own 54.87% of the company’s stock.

Eos Energy Enterprises Trading Down 8.8%

Shares of NASDAQ EOSE opened at $6.13 on Monday. The business has a fifty day simple moving average of $12.74 and a 200 day simple moving average of $12.58. The firm has a market capitalization of $1.77 billion, a price-to-earnings ratio of -0.88 and a beta of 2.26. Eos Energy Enterprises has a one year low of $3.07 and a one year high of $19.86.

Eos Energy Enterprises (NASDAQ:EOSE) last posted its quarterly earnings data on Thursday, February 26th. The company reported ($0.84) earnings per share for the quarter, missing the consensus estimate of ($0.20) by ($0.64). The firm had revenue of $58.00 million for the quarter, compared to the consensus estimate of $93.36 million. On average, research analysts anticipate that Eos Energy Enterprises will post -2.54 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.