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

Eos Energy Enterprises, Inc. (NASDAQ:EOSE) has been assigned an average recommendation of “Hold” from the eleven analysts that are presently covering the stock, MarketBeat Ratings reports. One research analyst has rated the stock with a sell recommendation, seven have issued a hold recommendation, two have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average twelve-month price target among brokers that have issued ratings on the stock in the last year is $8.0556.

Several analysts have issued reports on EOSE shares. Roth Capital set a $4.00 target price on shares of Eos Energy Enterprises in a research note on Thursday, August 6th. Needham & Company LLC started coverage on shares of Eos Energy Enterprises in a research report on Friday, May 22nd. They set a “buy” rating and a $11.00 price target for the company. B. Riley Financial decreased their price target on shares of Eos Energy Enterprises from $8.00 to $5.00 and set a “neutral” rating on the stock in a report on Friday, August 14th. Stifel Nicolaus decreased their price target on shares of Eos Energy Enterprises from $10.00 to $9.00 and set a “buy” rating on the stock in a report on Thursday, August 6th. Finally, Wall Street Zen downgraded Eos Energy Enterprises from a “sell” rating to a “strong sell” rating in a research report on Saturday, August 8th.

Insider Transactions at Eos Energy Enterprises

In other Eos Energy Enterprises news, insider Michelle Buczkowski sold 11,469 shares of the firm’s stock in a transaction dated Tuesday, June 30th. The stock was sold at an average price of $5.87, for a total value of $67,323.03. Following the sale, the insider owned 59,242 shares of the company’s stock, valued at $347,750.54. This trade represents a 16.22% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO Joe Mastrangelo sold 159,154 shares of Eos Energy Enterprises stock in a transaction dated Monday, July 27th. The shares were sold at an average price of $3.61, for a total value of $574,545.94. Following the sale, the chief executive officer owned 1,947,586 shares of the company’s stock, valued at approximately $7,030,785.46. This trade represents a 7.55% decrease in their position. The SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 448,626 shares of company stock worth $1,828,572. 1.73% of the stock is owned by insiders.

Institutional Investors Weigh In On Eos Energy Enterprises

Hedge funds have recently bought and sold shares of the stock. Rubric Capital Management LP bought a new stake in shares of Eos Energy Enterprises during the 3rd quarter worth $117,317,000. Vanguard Group Inc. grew its position in Eos Energy Enterprises by 19.8% in the fourth quarter. Vanguard Group Inc. now owns 18,616,874 shares of the company’s stock worth $213,349,000 after acquiring an additional 3,080,012 shares in the last quarter. Engineers Gate Manager LP bought a new position in Eos Energy Enterprises in the second quarter valued at $11,840,000. California State Teachers Retirement System increased its stake in Eos Energy Enterprises by 512.9% in the second quarter. California State Teachers Retirement System now owns 2,305,278 shares of the company’s stock valued at $13,555,000 after acquiring an additional 1,929,177 shares during the last quarter. Finally, Renaissance Technologies LLC purchased a new stake in Eos Energy Enterprises during the first quarter valued at about $9,152,000. 54.87% of the stock is currently owned by institutional investors.

Eos Energy Enterprises Stock Performance

NASDAQ EOSE opened at $3.26 on Monday. Eos Energy Enterprises has a 52-week low of $3.11 and a 52-week high of $19.86. The company has a 50-day simple moving average of $4.34 and a 200 day simple moving average of $6.22. The company has a market capitalization of $1.19 billion, a PE ratio of -0.48 and a beta of 2.75.

Eos Energy Enterprises (NASDAQ:EOSE) last posted its quarterly earnings data on Wednesday, August 5th. The company reported ($1.20) EPS for the quarter, missing the consensus estimate of ($0.19) by ($1.01). The company had revenue of $68.78 million during the quarter, compared to analyst estimates of $68.32 million. During the same quarter last year, the firm posted ($1.05) EPS. As a group, analysts forecast that Eos Energy Enterprises will post -0.91 EPS 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.