Eos Energy Enterprises, Inc. (NASDAQ:EOSE) Given Consensus Rating of "Hold" by Analysts

Key Points

• Analysts maintain a consensus “Hold” rating on Eos Energy Enterprises, with six holds, two buys, one strong buy and one sell among 10 analysts. The average 12-month price target is $8.19, although several firms recently lowered their targets.
• Eos reported a quarterly loss of $1.20 per share, significantly worse than the $0.19 analyst consensus, while revenue of $68.78 million slightly exceeded expectations.
• The stock opened at $3.98, near its 52-week low of $3.01 and well below its $19.86 high. Insiders have sold $3.12 million of shares over the past 90 days, while institutional investors own 54.87% of the company.

Eos Energy Enterprises, Inc. (NASDAQ:EOSE - Get Free Report) has been given an average rating of "Hold" by the ten ratings firms that are presently covering the stock, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating, two have given a buy rating and one has given a strong buy rating to the company. The average 1-year target price among brokerages that have covered the stock in the last year is $8.1875.

Several research analysts have recently weighed in on the company. Wall Street Zen cut Eos Energy Enterprises from a "sell" rating to a "strong sell" rating in a report on Saturday, August 8th. Truist Financial started coverage on Eos Energy Enterprises in a research note on Monday, July 13th. They set a "buy" rating and a $7.00 price objective on the stock. Needham & Company LLC cut their target price on Eos Energy Enterprises from $11.00 to $10.00 and set a "buy" rating for the company in a research note on Tuesday. Stifel Nicolaus lowered their price target on shares of Eos Energy Enterprises from $10.00 to $9.00 and set a "buy" rating on the stock in a research report on Thursday, August 6th. Finally, TD Cowen dropped their price objective on shares of Eos Energy Enterprises from $8.00 to $4.00 and set a "hold" rating for the company in a report on Thursday, August 6th.

Insiders Place Their Bets

In other news, insider Nathan Kroeker sold 110,417 shares of the firm's stock in a transaction that occurred on Tuesday, July 28th. The shares were sold at an average price of $3.36, for a total transaction of $371,001.12. Following the completion of the sale, the insider owned 887,527 shares in the company, valued at $2,982,090.72. This trade represents a 11.06% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 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, Director Haiyan Song acquired 10,000 shares of the firm's stock in a transaction that occurred on Friday, September 11th. The stock was acquired at an average price of $3.95 per share, for a total transaction of $39,500.00. Following the completion of the acquisition, the director directly owned 10,000 shares of the company's stock, valued at $39,500. The trade was a ∞ increase in their position. The disclosure for this purchase is available in the SEC filing. Over the last 90 days, insiders have sold 776,543 shares of company stock worth $3,121,182. 1.73% of the stock is currently owned by company insiders.

Institutional Trading of Eos Energy Enterprises

A number of hedge funds and other institutional investors have recently modified their holdings of EOSE. Geode Capital Management LLC boosted its stake in Eos Energy Enterprises by 16.1% during the fourth quarter. Geode Capital Management LLC now owns 7,205,507 shares of the company's stock worth $82,587,000 after buying an additional 998,332 shares during the period. Baker Avenue Asset Management LP purchased a new position in shares of Eos Energy Enterprises during the 4th quarter worth approximately $11,542,000. Renaissance Technologies LLC purchased a new position in shares of Eos Energy Enterprises during the 1st quarter worth approximately $9,152,000. First Trust Advisors LP increased its holdings in Eos Energy Enterprises by 3.7% in the 1st quarter. First Trust Advisors LP now owns 1,537,606 shares of the company's stock valued at $7,627,000 after purchasing an additional 55,145 shares during the last quarter. Finally, Wellington Management Group LLP raised its position in Eos Energy Enterprises by 475.8% in the second quarter. Wellington Management Group LLP now owns 1,155,515 shares of the company's stock valued at $6,794,000 after purchasing an additional 954,828 shares during the period. 54.87% of the stock is owned by institutional investors and hedge funds.

Eos Energy Enterprises Stock Up 1.3%

Shares of EOSE opened at $3.98 on Friday. Eos Energy Enterprises has a 52-week low of $3.01 and a 52-week high of $19.86. The stock has a market cap of $1.45 billion, a PE ratio of -0.58 and a beta of 2.77. The firm's fifty day moving average is $3.83 and its two-hundred day moving average is $5.56.

Eos Energy Enterprises (NASDAQ:EOSE - Get Free Report) last issued its earnings results on Wednesday, August 5th. The company reported ($1.20) EPS for the quarter, missing analysts' consensus estimates of ($0.19) by ($1.01). The firm had revenue of $68.78 million for the quarter, compared to analyst estimates of $68.32 million. During the same period last year, the business earned ($1.05) EPS. As a group, research analysts anticipate that Eos Energy Enterprises will post -1.28 earnings per share for the current year.

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.

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