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

Shares of Eos Energy Enterprises, Inc. (NASDAQ:EOSE) have received a consensus rating of “Hold” from the eleven research firms that are covering the company, Marketbeat reports. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and two have given a buy rating to the company. The average 12 month target price among brokerages that have issued ratings on the stock in the last year is $12.4375.

EOSE has been the subject of a number of analyst reports. Roth Capital set a $12.00 price objective on Eos Energy Enterprises and gave the company a “neutral” rating in a report on Wednesday, October 22nd. Zacks Research upgraded shares of Eos Energy Enterprises from a “strong sell” rating to a “hold” rating in a research report on Monday. Wall Street Zen downgraded shares of Eos Energy Enterprises from a “hold” rating to a “sell” rating in a report on Saturday, November 8th. JPMorgan Chase & Co. began coverage on shares of Eos Energy Enterprises in a research note on Wednesday, December 17th. They set a “neutral” rating and a $16.00 price objective on the stock. Finally, Stifel Nicolaus lifted their target price on shares of Eos Energy Enterprises from $10.00 to $22.00 and gave the company a “buy” rating in a research note on Wednesday, October 15th.

Eos Energy Enterprises Stock Down 2.4%

Shares of EOSE opened at $16.88 on Friday. The company has a 50-day moving average price of $14.12 and a two-hundred day moving average price of $10.86. The stock has a market cap of $4.87 billion, a price-to-earnings ratio of -2.02 and a beta of 2.11. Eos Energy Enterprises has a 12 month low of $3.07 and a 12 month high of $19.86.

Eos Energy Enterprises (NASDAQ:EOSE) last issued its 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 firm had revenue of $30.51 million during the quarter, compared to analyst estimates of $39.55 million. Equities research analysts expect that Eos Energy Enterprises will post -2.54 EPS for the current fiscal year.

Insider Buying and Selling at Eos Energy Enterprises

In other Eos Energy Enterprises news, Director Marian Walters sold 50,000 shares of Eos Energy Enterprises stock in a transaction on Thursday, December 4th. The stock was sold at an average price of $15.81, for a total value of $790,500.00. Following the completion of the transaction, the director owned 135,334 shares in the company, valued at approximately $2,139,630.54. The trade was a 26.98% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Russell Monoki Stidolph sold 500,000 shares of the stock in a transaction on Friday, December 5th. The stock was sold at an average price of $14.99, for a total value of $7,495,000.00. Following the sale, the director owned 2,153,272 shares in the company, valued at $32,277,547.28. The trade was a 18.84% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders sold 816,134 shares of company stock valued at $12,262,335. Corporate insiders own 3.30% of the company’s stock.

Institutional Investors Weigh In On Eos Energy Enterprises

Several hedge funds and other institutional investors have recently added to or reduced their stakes in EOSE. Chung Wu Investment Group LLC bought a new stake in shares of Eos Energy Enterprises during the third quarter valued at approximately $30,000. GAMMA Investing LLC boosted its position in Eos Energy Enterprises by 46.4% in the 4th 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 during the last quarter. Farther Finance Advisors LLC boosted its position in Eos Energy Enterprises by 33.0% in the 3rd quarter. Farther Finance Advisors LLC now owns 3,325 shares of the company’s stock valued at $38,000 after buying an additional 825 shares during the last quarter. Amalgamated Bank acquired a new stake in shares of Eos Energy Enterprises in the 2nd quarter valued at $39,000. Finally, Skandinaviska Enskilda Banken AB publ bought a new stake in shares of Eos Energy Enterprises during the second quarter worth $39,000. Institutional investors and hedge funds own 54.87% of the company’s stock.

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.