Eos Energy Enterprises, Inc. (NASDAQ:EOSE) Receives $6.50 Average PT from Brokerages

Eos Energy Enterprises, Inc. (NASDAQ:EOSE - Get Free Report) has been assigned a consensus rating of "Hold" from the six research firms that are covering the company, MarketBeat.com reports. Four investment analysts have rated the stock with a hold recommendation and two have issued a buy recommendation on the company. The average twelve-month price target among brokers that have issued a report on the stock in the last year is $6.50.

A number of research analysts have recently commented on the stock. Guggenheim decreased their price objective on shares of Eos Energy Enterprises from $7.00 to $6.00 and set a "buy" rating for the company in a research report on Monday, June 2nd. Stifel Nicolaus decreased their price objective on shares of Eos Energy Enterprises from $9.00 to $8.50 and set a "buy" rating on the stock in a report on Monday, June 9th. Cowen reiterated a "hold" rating on shares of Eos Energy Enterprises in a report on Friday, March 7th. Finally, TD Cowen upgraded shares of Eos Energy Enterprises to a "hold" rating in a research note on Monday, June 23rd.

Insiders Place Their Bets

In related news, insider Nathan Kroeker sold 152,856 shares of Eos Energy Enterprises stock in a transaction on Friday, May 16th. The shares were sold at an average price of $6.86, for a total value of $1,048,592.16. Following the completion of the sale, the insider now owns 403,815 shares of the company's stock, valued at approximately $2,770,170.90. This trade represents a 27.46% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, General Counsel Michael W. Silberman sold 100,943 shares of Eos Energy Enterprises stock in a transaction on Friday, May 16th. The shares were sold at an average price of $6.86, for a total transaction of $692,468.98. Following the completion of the sale, the general counsel now directly owns 161,404 shares of the company's stock, valued at approximately $1,107,231.44. The trade was a 38.48% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 560,356 shares of company stock worth $3,844,042. 3.63% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Eos Energy Enterprises

A number of hedge funds have recently made changes to their positions in EOSE. Parkside Financial Bank & Trust bought a new position in shares of Eos Energy Enterprises in the fourth quarter worth approximately $29,000. KBC Group NV purchased a new stake in shares of Eos Energy Enterprises during the first quarter valued at approximately $38,000. SBI Securities Co. Ltd. lifted its stake in Eos Energy Enterprises by 588.0% in the first quarter. SBI Securities Co. Ltd. now owns 10,065 shares of the company's stock worth $38,000 after acquiring an additional 8,602 shares during the period. Elevatus Welath Management purchased a new stake in Eos Energy Enterprises in the first quarter worth $39,000. Finally, Parallel Advisors LLC purchased a new position in Eos Energy Enterprises during the first quarter valued at $43,000. 54.87% of the stock is currently owned by institutional investors.

Eos Energy Enterprises Stock Down 2.9%

Eos Energy Enterprises stock traded down $0.13 during midday trading on Wednesday, hitting $4.41. 44,619,420 shares of the stock were exchanged, compared to its average volume of 8,685,101. The company has a fifty day simple moving average of $5.12 and a two-hundred day simple moving average of $4.83. Eos Energy Enterprises has a 52 week low of $1.27 and a 52 week high of $7.36. The stock has a market capitalization of $1.00 billion, a PE ratio of -1.00 and a beta of 1.97.

Eos Energy Enterprises (NASDAQ:EOSE - Get Free Report) last announced its quarterly earnings results on Tuesday, May 6th. The company reported ($0.20) earnings per share for the quarter, missing analysts' consensus estimates of ($0.19) by ($0.01). The business had revenue of $10.46 million for the quarter, compared to analysts' expectations of $11.77 million. As a group, equities research analysts anticipate that Eos Energy Enterprises will post -2.54 EPS for the current fiscal year.

Eos Energy Enterprises Company Profile

Eos Energy Enterprises, Inc designs, manufactures, and markets zinc-based energy storage solutions for utility-scale, microgrid, and commercial and industrial (C&I) applications in the United States. The company offers Znyth technology battery energy storage system (BESS), which provides the operating flexibility to manage increased grid complexity and price volatility.