Eos Energy Enterprises (NASDAQ:EOSE) Upgraded to Moderate Buy at Needham & Company LLC

Needham & Company LLC upgraded shares of Eos Energy Enterprises (NASDAQ:EOSE) to a moderate buy rating in a research note released on Friday, Marketbeat reports. Needham & Company LLC currently has $11.00 price objective on the stock.

Other analysts have also issued reports about the company. Roth Mkm reduced their price objective on Eos Energy Enterprises from $12.00 to $6.00 and set a “neutral” rating on the stock in a research note on Friday, February 27th. TD Cowen raised their price target on shares of Eos Energy Enterprises from $7.00 to $8.00 and gave the company a “hold” rating in a research note on Thursday, May 14th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Eos Energy Enterprises in a report on Tuesday, April 21st. B. Riley Financial dropped their price objective on shares of Eos Energy Enterprises from $12.00 to $8.00 and set a “neutral” rating for the company in a research note on Thursday, March 5th. Finally, Zacks Research upgraded shares of Eos Energy Enterprises from a “strong sell” rating to a “hold” rating in a research report on Tuesday, April 28th. Two investment analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, Eos Energy Enterprises presently has a consensus rating of “Hold” and a consensus price target of $10.94.

Eos Energy Enterprises Price Performance

Shares of EOSE opened at $8.06 on Friday. The firm has a 50 day simple moving average of $6.33 and a two-hundred day simple moving average of $10.78. Eos Energy Enterprises has a one year low of $3.69 and a one year high of $19.86. The company has a market cap of $2.74 billion, a P/E ratio of -1.21 and a beta of 2.56.

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

Insider Buying and Selling at Eos Energy Enterprises

In other Eos Energy Enterprises news, CEO Joe Mastrangelo bought 23,900 shares of Eos Energy Enterprises stock in a transaction on Wednesday, March 4th. The shares were purchased at an average cost of $6.58 per share, with a total value of $157,262.00. Following the acquisition, the chief executive officer directly owned 1,487,126 shares of the company’s stock, valued at $9,785,289.08. The trade was a 1.63% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director David Urban purchased 16,250 shares of the firm’s stock in a transaction on Monday, March 9th. The stock was acquired at an average price of $6.16 per share, with a total value of $100,100.00. Following the completion of the transaction, the director owned 62,471 shares in the company, valued at approximately $384,821.36. This trade represents a 35.16% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders have acquired 115,150 shares of company stock valued at $692,962 in the last quarter. 1.73% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. L.K. Benson & Company P.C. acquired a new stake in shares of Eos Energy Enterprises in the third quarter valued at about $887,000. State of New Jersey Common Pension Fund D bought a new stake in Eos Energy Enterprises in the fourth quarter valued at approximately $1,834,000. Vanguard Group Inc. raised its holdings in Eos Energy Enterprises by 19.8% during the 4th quarter. Vanguard Group Inc. now owns 18,616,874 shares of the company’s stock worth $213,349,000 after purchasing an additional 3,080,012 shares during the last quarter. DNB Asset Management AS lifted its position in shares of Eos Energy Enterprises by 22.4% in the 3rd quarter. DNB Asset Management AS now owns 1,034,086 shares of the company’s stock worth $11,778,000 after purchasing an additional 189,039 shares during the period. Finally, Park Avenue Securities LLC bought a new stake in shares of Eos Energy Enterprises in the 4th quarter valued at $4,307,000. 54.87% of the stock is owned by institutional investors.

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.