Brokerages Set Eos Energy Enterprises, Inc. (NASDAQ:EOSE) Target Price at $11.93

Shares of Eos Energy Enterprises, Inc. (NASDAQ:EOSE) have received a consensus recommendation of “Hold” from the eleven ratings firms that are currently covering the firm, Marketbeat Ratings reports. Two research analysts have rated the stock with a sell recommendation, seven have given a hold recommendation and two have given a buy recommendation to the company. The average 12 month price target among brokers that have issued ratings on the stock in the last year is $12.4375.

EOSE has been the topic of several recent research reports. Stifel Nicolaus boosted their target price on Eos Energy Enterprises from $10.00 to $22.00 and gave the stock a “buy” rating in a report on Wednesday, October 15th. B. Riley upped their target price on Eos Energy Enterprises from $8.00 to $12.00 and gave the company a “neutral” rating in a report on Tuesday, November 11th. Zacks Research downgraded Eos Energy Enterprises from a “hold” rating to a “strong sell” rating in a research note on Wednesday, October 29th. Guggenheim boosted their price target on shares of Eos Energy Enterprises from $10.00 to $20.00 and gave the company a “buy” rating in a research report on Wednesday, October 22nd. Finally, Wall Street Zen lowered shares of Eos Energy Enterprises from a “hold” rating to a “sell” rating in a report on Saturday, November 8th.

Insider Buying and Selling

In other news, Director Marian Walters sold 50,000 shares of the firm’s stock in a transaction that occurred on Thursday, December 4th. The shares were sold at an average price of $15.81, for a total transaction of $790,500.00. Following the completion of the sale, the director owned 135,334 shares in the company, valued at $2,139,630.54. This trade represents a 26.98% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Russell Monoki Stidolph sold 29,999 shares of the company’s stock in a transaction that occurred on Monday, December 8th. The shares were sold at an average price of $15.36, for a total value of $460,784.64. Following the completion of the transaction, the director owned 2,123,273 shares in the company, valued at $32,613,473.28. This represents a 1.39% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 816,134 shares of company stock valued at $12,262,335 in the last 90 days. Insiders own 3.30% of the company’s stock.

Institutional Trading of Eos Energy Enterprises

Hedge funds and other institutional investors have recently modified their holdings of the business. Chung Wu Investment Group LLC acquired a new position in Eos Energy Enterprises in the third quarter valued at about $30,000. Farther Finance Advisors LLC raised its stake in shares of 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 acquiring an additional 825 shares during the period. CWM LLC lifted its holdings in shares of Eos Energy Enterprises by 162.9% in the 3rd quarter. CWM LLC now owns 3,994 shares of the company’s stock worth $45,000 after acquiring an additional 2,475 shares during the last quarter. Ameritas Advisory Services LLC purchased a new position in shares of Eos Energy Enterprises during the 3rd quarter worth approximately $48,000. Finally, Copia Wealth Management increased its holdings in Eos Energy Enterprises by 54.7% in the 3rd quarter. Copia Wealth Management now owns 4,796 shares of the company’s stock valued at $55,000 after purchasing an additional 1,696 shares during the last quarter. 54.87% of the stock is owned by institutional investors and hedge funds.

Eos Energy Enterprises Stock Up 6.2%

Shares of NASDAQ EOSE opened at $13.07 on Wednesday. The firm has a 50-day simple moving average of $14.86 and a 200-day simple moving average of $9.71. The stock has a market capitalization of $3.77 billion, a price-to-earnings ratio of -1.56 and a beta of 2.15. Eos Energy Enterprises has a 52 week low of $3.07 and a 52 week high of $19.86.

Eos Energy Enterprises (NASDAQ:EOSE) last posted its quarterly earnings results on Wednesday, November 5th. The company reported ($2.77) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.31) by ($2.46). The company had revenue of $30.51 million for the quarter, compared to analysts’ expectations of $39.55 million. As a group, equities research analysts expect that Eos Energy Enterprises will post -2.54 EPS for the current 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.