Eos Energy Enterprises, Inc. (NASDAQ:EOSE) Expected to Announce Earnings of -$0.43 Per Share

Wall Street brokerages forecast that Eos Energy Enterprises, Inc. (NASDAQ:EOSE) will post earnings of ($0.43) per share for the current quarter, Zacks reports. Three analysts have made estimates for Eos Energy Enterprises’ earnings. The lowest EPS estimate is ($0.53) and the highest is ($0.33). The firm is scheduled to announce its next quarterly earnings results on Wednesday, November 10th.

According to Zacks, analysts expect that Eos Energy Enterprises will report full-year earnings of ($2.38) per share for the current financial year, with EPS estimates ranging from ($2.55) to ($2.25). For the next year, analysts forecast that the firm will report earnings of ($1.16) per share, with EPS estimates ranging from ($1.37) to ($1.01). Zacks Investment Research’s EPS calculations are an average based on a survey of sell-side research firms that follow Eos Energy Enterprises.

Eos Energy Enterprises (NASDAQ:EOSE) last issued its earnings results on Wednesday, August 11th. The company reported ($0.46) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.17) by ($0.29). The firm had revenue of $0.61 million for the quarter, compared to analyst estimates of $2.84 million.

Several research firms have recently issued reports on EOSE. Zacks Investment Research cut shares of Eos Energy Enterprises from a “hold” rating to a “sell” rating in a report on Monday, August 16th. Northland Securities reduced their price target on shares of Eos Energy Enterprises from $27.00 to $20.00 and set an “outperform” rating for the company in a research report on Thursday, August 12th. Seaport Global Securities started coverage on shares of Eos Energy Enterprises in a research report on Thursday, July 15th. They issued a “buy” rating and a $27.00 price target for the company. Johnson Rice began coverage on shares of Eos Energy Enterprises in a research report on Thursday. They issued a “buy” rating and a $20.00 target price for the company. Finally, Seaport Res Ptn restated a “buy” rating on shares of Eos Energy Enterprises in a research note on Thursday, July 15th. One research analyst has rated the stock with a sell rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Eos Energy Enterprises has an average rating of “Buy” and an average price target of $26.20.

NASDAQ EOSE traded down $0.87 on Wednesday, hitting $12.20. The stock had a trading volume of 22,685 shares, compared to its average volume of 756,000. Eos Energy Enterprises has a one year low of $9.94 and a one year high of $31.95. The company has a quick ratio of 3.55, a current ratio of 3.73 and a debt-to-equity ratio of 0.20. The stock has a market cap of $654.36 million, a price-to-earnings ratio of -1.64 and a beta of 1.00. The company’s 50-day moving average is $14.64 and its two-hundred day moving average is $16.11.

In related news, major shareholder B. Riley Financial, Inc. sold 50,000 shares of the business’s stock in a transaction that occurred on Thursday, August 26th. The shares were sold at an average price of $13.85, for a total transaction of $692,500.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In the last quarter, insiders have sold 330,816 shares of company stock valued at $4,517,795. 15.10% of the stock is owned by corporate insiders.

A number of hedge funds and other institutional investors have recently bought and sold shares of EOSE. Ameritas Investment Partners Inc. bought a new stake in Eos Energy Enterprises during the second quarter worth about $25,000. Larson Financial Group LLC bought a new position in Eos Energy Enterprises in the 1st quarter valued at approximately $32,000. Itau Unibanco Holding S.A. bought a new position in Eos Energy Enterprises in the 2nd quarter valued at approximately $39,000. Royal Bank of Canada raised its holdings in Eos Energy Enterprises by 63.4% in the 2nd quarter. Royal Bank of Canada now owns 2,618 shares of the company’s stock valued at $48,000 after buying an additional 1,016 shares during the last quarter. Finally, Ionic Capital Management LLC acquired a new stake in Eos Energy Enterprises during the 2nd quarter valued at approximately $54,000. 46.45% of the stock is currently owned by hedge funds and other institutional investors.

About Eos Energy Enterprises

Eos Energy Enterprises, Inc designs, manufactures, and deploys battery storage solutions for utility, commercial and industrial, and renewable energy markets in the United States. The company offers stationary battery storage solutions. Its flagship product is the Eos Znyth DC battery system designed to meet the requirements of the grid-scale energy storage market.

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Earnings History and Estimates for Eos Energy Enterprises (NASDAQ:EOSE)

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