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

Key Points

• Analysts rate Eos Energy Enterprises “Hold” on average: Seven of 11 analysts recommend holding the stock, with an average 12-month price target of $8.06. Ratings range from sell to strong buy.
• The stock has experienced significant weakness: EOSE opened at $3.81, versus a 12-month high of $19.86, while its 50-day and 200-day moving averages stood at $4.72 and $6.55, respectively.
• Quarterly results missed on earnings: The company reported a $1.20-per-share loss, substantially below the $0.19 loss analysts expected, although revenue of $68.78 million slightly exceeded estimates. Insiders sold $1.83 million of shares over the past 90 days, while institutional investors own 54.87% of the stock.

Eos Energy Enterprises, Inc. (NASDAQ:EOSE - Get Free Report) has been given a consensus recommendation of "Hold" by the eleven analysts that are covering the stock, MarketBeat Ratings reports. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company. The average twelve-month target price among analysts that have updated their coverage on the stock in the last year is $8.0556.

Several equities research analysts recently issued reports on EOSE shares. Weiss Ratings reissued a "sell (d-)" rating on shares of Eos Energy Enterprises in a research report on Friday, July 17th. Zacks Research upgraded Eos Energy Enterprises from a "strong sell" rating to a "hold" rating in a research report on Tuesday, April 28th. TD Cowen reduced their price target on shares of Eos Energy Enterprises from $8.00 to $4.00 and set a "hold" rating for the company in a research note on Thursday, August 6th. Stifel Nicolaus cut their target price on Eos Energy Enterprises from $10.00 to $9.00 and set a "buy" rating for the company in a research report on Thursday, August 6th. Finally, Needham & Company LLC initiated coverage on Eos Energy Enterprises in a research report on Friday, May 22nd. They issued a "buy" rating and a $11.00 target price for the company.

Eos Energy Enterprises Price Performance

EOSE opened at $3.81 on Monday. Eos Energy Enterprises has a 12-month low of $3.11 and a 12-month high of $19.86. The stock has a market capitalization of $1.39 billion, a PE ratio of -0.56 and a beta of 2.75. The firm's fifty day moving average price is $4.72 and its 200 day moving average price is $6.55.

Eos Energy Enterprises (NASDAQ:EOSE - Get Free Report) last issued its quarterly earnings results on Wednesday, August 5th. The company reported ($1.20) EPS for the quarter, missing the consensus estimate 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 quarter last year, the firm earned ($1.05) earnings per share. On average, equities research analysts forecast that Eos Energy Enterprises will post -0.91 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, insider Michelle Buczkowski sold 11,469 shares of Eos Energy Enterprises stock in a transaction dated Tuesday, June 30th. The stock was sold at an average price of $5.87, for a total transaction of $67,323.03. Following the transaction, the insider directly owned 59,242 shares of the company's stock, valued at $347,750.54. The trade was a 16.22% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 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, insider Michael W. Silberman sold 14,998 shares of the business's stock in a transaction dated Tuesday, June 30th. The stock was sold at an average price of $5.87, for a total transaction of $88,038.26. Following the completion of the sale, the insider owned 298,277 shares in the company, valued at approximately $1,750,885.99. This trade represents a 4.79% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 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. In the last ninety days, insiders have sold 448,626 shares of company stock worth $1,828,572. 1.73% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Eos Energy Enterprises

Hedge funds have recently made changes to their positions in the business. Millennium Management LLC raised its holdings in shares of Eos Energy Enterprises by 55.1% in the 1st 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 in the last quarter. Goldman Sachs Group Inc. grew its position in Eos Energy Enterprises by 36.8% in the first quarter. Goldman Sachs Group Inc. now owns 3,900,513 shares of the company's stock worth $14,744,000 after buying an additional 1,050,128 shares during the last quarter. Envestnet Asset Management Inc. acquired a new position in Eos Energy Enterprises in the second quarter worth approximately $76,000. JPMorgan Chase & Co. bought a new position in shares of Eos Energy Enterprises in the second quarter valued at $5,958,000. Finally, Prudential Financial Inc. bought a new position in shares of Eos Energy Enterprises in the second quarter valued at $144,000. Institutional investors and hedge funds own 54.87% of the company's stock.

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.

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