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

Eos Energy Enterprises, Inc. (NASDAQ:EOSE) has earned an average rating of “Hold” from the ten brokerages that are currently covering the firm, Marketbeat.com reports. One analyst has rated the stock with a sell rating, six have given a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company. The average 12 month price objective among brokerages that have issued ratings on the stock in the last year is $8.19.

EOSE has been the topic of a number of research analyst reports. B. Riley Financial reduced their target price on Eos Energy Enterprises from $8.00 to $5.00 and set a “neutral” rating on the stock in a report on Friday, August 14th. Roth Capital boosted their price target on Eos Energy Enterprises from $4.00 to $4.50 and gave the company a “neutral” rating in a report on Thursday, September 10th. TD Cowen dropped their price target on Eos Energy Enterprises from $8.00 to $4.00 and set a “hold” rating on the stock in a research report on Thursday, August 6th. Wall Street Zen cut Eos Energy Enterprises from a “sell” rating to a “strong sell” rating in a research note on Saturday, August 8th. Finally, Stifel Nicolaus decreased their price objective on shares of Eos Energy Enterprises from $10.00 to $9.00 and set a “buy” rating for the company in a report on Thursday, August 6th.

Eos Energy Enterprises Trading Down 9.5%

Shares of EOSE stock opened at $3.24 on Friday. The company has a market cap of $1.18 billion, a PE ratio of -0.47 and a beta of 2.77. The company’s fifty day simple moving average is $3.79 and its 200-day simple moving average is $5.47. Eos Energy Enterprises has a 52 week low of $3.01 and a 52 week high of $19.86.

Eos Energy Enterprises (NASDAQ:EOSE) last released its quarterly earnings results 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 analysts’ expectations of $68.32 million. During the same quarter in the previous year, the business earned ($1.05) earnings per share. Equities research analysts expect that Eos Energy Enterprises will post -1.28 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, CAO Sumeet Puri sold 43,750 shares of the business’s stock in a transaction that occurred on Wednesday, September 16th. The stock was sold at an average price of $3.92, for a total transaction of $171,500.00. Following the completion of the transaction, the chief accounting officer directly owned 280,195 shares in the company, valued at approximately $1,098,364.40. The trade was a 13.51% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. 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, insider Nathan Kroeker sold 110,417 shares of the business’s stock in a transaction on Tuesday, July 28th. The stock was sold at an average price of $3.36, for a total value of $371,001.12. Following the transaction, the insider owned 887,527 shares of the company’s stock, valued at $2,982,090.72. This trade represents a 11.06% decrease in their position. The SEC filing for this sale provides additional information. 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. In the last quarter, insiders have sold 776,543 shares of company stock worth $3,121,182. 1.73% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Eos Energy Enterprises

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Sequoia Financial Advisors LLC acquired a new stake in Eos Energy Enterprises in the 2nd quarter valued at about $117,000. Tidal Investments LLC raised its holdings in shares of Eos Energy Enterprises by 151.0% in the 2nd quarter. Tidal Investments LLC now owns 649,111 shares of the company’s stock worth $3,817,000 after purchasing an additional 390,461 shares in the last quarter. WINTON GROUP Ltd bought a new stake in shares of Eos Energy Enterprises in the 2nd quarter worth approximately $920,000. Baird Financial Group Inc. lifted its stake in Eos Energy Enterprises by 9.4% during the second quarter. Baird Financial Group Inc. now owns 863,479 shares of the company’s stock valued at $5,077,000 after purchasing an additional 74,338 shares during the last quarter. Finally, Allworth Financial LP lifted its stake in Eos Energy Enterprises by 198.6% during the second quarter. Allworth Financial LP now owns 4,300 shares of the company’s stock valued at $25,000 after purchasing an additional 2,860 shares during the last quarter. Institutional investors own 54.87% of the company’s stock.

About Eos Energy Enterprises

Eos Energy Enterprises, Inc develops and manufactures long-duration energy storage systems designed to support the reliability and flexibility of electric grids. Its technology is based on aqueous zinc battery chemistry, which is intended to provide a non-flammable alternative to conventional lithium-ion batteries for stationary storage applications.

The company’s primary product platform is the Eos Z3, a modular battery system designed for utility-scale and other large-scale energy storage projects.