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

Shares of Eos Energy Enterprises, Inc. (NASDAQ:EOSE) have been assigned a consensus recommendation of “Hold” from the ten research firms that are covering the firm, MarketBeat Ratings reports. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and two have given a buy rating to the company. The average 1-year target price among brokerages that have covered the stock in the last year is $10.9375.

A number of equities research analysts have commented on EOSE shares. Guggenheim reiterated a “neutral” rating and set a $20.00 target price on shares of Eos Energy Enterprises in a report on Friday, February 27th. JPMorgan Chase & Co. lowered their target price on Eos Energy Enterprises from $9.00 to $6.00 and set a “neutral” rating on the stock in a report on Thursday, April 16th. Roth Mkm lowered their target price on Eos Energy Enterprises from $12.00 to $6.00 and set a “neutral” rating on the stock in a report on Friday, February 27th. TD Cowen increased their target price on Eos Energy Enterprises from $7.00 to $8.00 and gave the company a “hold” rating in a report on Thursday, May 14th. Finally, Zacks Research upgraded Eos Energy Enterprises from a “strong sell” rating to a “hold” rating in a report on Tuesday, April 28th.

Insider Buying and Selling

In related news, CEO Joe Mastrangelo bought 23,900 shares of the stock in a transaction on Wednesday, March 4th. The shares were purchased at an average price of $6.58 per share, for a total transaction of $157,262.00. Following the acquisition, the chief executive officer owned 1,487,126 shares in the company, valued at $9,785,289.08. This represents a 1.63% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Alexander Dimitrief bought 15,000 shares of the stock in a transaction on Monday, March 2nd. The shares were bought at an average price of $6.04 per share, for a total transaction of $90,600.00. Following the acquisition, the director owned 235,221 shares in the company, valued at $1,420,734.84. The trade was a 6.81% increase in their position. The SEC filing for this purchase provides additional information. Insiders have bought a total of 115,150 shares of company stock worth $692,962 in the last 90 days. Corporate insiders own 1.73% of the company’s stock.

Institutional Investors Weigh In On Eos Energy Enterprises

Large investors have recently bought and sold shares of the stock. Millennium Management LLC boosted its holdings in shares of Eos Energy Enterprises by 55.1% during the first quarter. Millennium Management LLC now owns 2,522,273 shares of the company’s stock worth $9,534,000 after purchasing an additional 896,471 shares during the last quarter. Goldman Sachs Group Inc. boosted its holdings in shares of Eos Energy Enterprises by 36.8% during the first quarter. Goldman Sachs Group Inc. now owns 3,900,513 shares of the company’s stock worth $14,744,000 after purchasing an additional 1,050,128 shares during the last quarter. Envestnet Asset Management Inc. acquired a new stake in shares of Eos Energy Enterprises during the second quarter worth $76,000. JPMorgan Chase & Co. acquired a new stake in shares of Eos Energy Enterprises during the second quarter worth $5,958,000. Finally, Prudential Financial Inc. acquired a new stake in shares of Eos Energy Enterprises during the second quarter worth $144,000. Institutional investors and hedge funds own 54.87% of the company’s stock.

Eos Energy Enterprises Trading Down 1.3%

Shares of EOSE stock opened at $8.06 on Friday. The company has a market cap of $2.74 billion, a price-to-earnings ratio of -1.21 and a beta of 2.56. The stock has a 50 day simple moving average of $6.33 and a 200-day simple moving average of $10.78. Eos Energy Enterprises has a 12-month low of $3.69 and a 12-month high of $19.86.

Eos Energy Enterprises (NASDAQ:EOSE) last issued its earnings results on Wednesday, May 13th. The company reported $0.12 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.22) by $0.34. The business had revenue of $56.96 million for the quarter, compared to analysts’ expectations of $54.32 million. On average, equities analysts forecast that Eos Energy Enterprises will post -0.8 earnings per share for the current fiscal year.

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.