Eos Energy Enterprises, Inc. (NASDAQ:EOSE) Receives Average Recommendation of "Hold" from Analysts

Shares of Eos Energy Enterprises, Inc. (NASDAQ:EOSE - Get Free Report) have received an average rating of "Hold" from the six research firms that are presently covering the firm, MarketBeat reports. Four equities research analysts have rated the stock with a hold rating and two have issued a buy rating on the company. The average 12 month price objective among brokerages that have updated their coverage on the stock in the last year is $6.50.

A number of analysts recently issued reports on EOSE shares. Cowen reissued a "hold" rating on shares of Eos Energy Enterprises in a report on Friday, March 7th. TD Cowen upgraded shares of Eos Energy Enterprises to a "hold" rating in a research report on Monday. Stifel Nicolaus dropped their target price on Eos Energy Enterprises from $9.00 to $8.50 and set a "buy" rating on the stock in a research report on Monday, June 9th. Finally, Guggenheim cut their price target on Eos Energy Enterprises from $7.00 to $6.00 and set a "buy" rating for the company in a research note on Monday, June 2nd.

Eos Energy Enterprises Price Performance

Shares of Eos Energy Enterprises stock opened at $4.37 on Wednesday. The stock has a market cap of $994.57 million, a PE ratio of -0.99 and a beta of 1.97. The firm has a fifty day moving average price of $5.15 and a 200 day moving average price of $4.81. Eos Energy Enterprises has a 1 year low of $1.00 and a 1 year high of $7.36.

Eos Energy Enterprises (NASDAQ:EOSE - Get Free Report) last released its quarterly earnings data 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 during the quarter, compared to analyst estimates of $11.77 million. As a group, equities analysts expect that Eos Energy Enterprises will post -2.54 EPS for the current year.

Insiders Place Their Bets

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

Institutional Trading of Eos Energy Enterprises

Large investors have recently made changes to their positions in the company. Bank of New York Mellon Corp boosted its stake in Eos Energy Enterprises by 154.9% during the 4th quarter. Bank of New York Mellon Corp now owns 48,374 shares of the company's stock worth $235,000 after purchasing an additional 29,393 shares during the last quarter. FourThought Financial Partners LLC purchased a new position in shares of Eos Energy Enterprises in the fourth quarter worth about $1,335,000. Cutter & CO Brokerage Inc. boosted its position in Eos Energy Enterprises by 37.0% during the fourth quarter. Cutter & CO Brokerage Inc. now owns 118,110 shares of the company's stock worth $574,000 after acquiring an additional 31,870 shares during the last quarter. Parkside Financial Bank & Trust purchased a new stake in Eos Energy Enterprises during the 4th quarter valued at about $29,000. Finally, Meridian Wealth Management LLC grew its stake in Eos Energy Enterprises by 27.2% during the 4th quarter. Meridian Wealth Management LLC now owns 99,800 shares of the company's stock valued at $485,000 after acquiring an additional 21,350 shares in the last quarter. 54.87% of the stock is currently owned by hedge funds and other institutional investors.

About Eos Energy Enterprises

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.

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