Eos Energy Enterprises (NASDAQ:EOSE) Raised to Hold at Zacks Research

Key Points

• Eos Energy Enterprises has been upgraded from a "strong sell" to a "hold" rating by Zacks Research, indicating a more favorable outlook for the stock.
• Analysts have recently adjusted their price targets for Eos Energy, with estimates ranging from $5.00 to $10.00, while the consensus price target stands at $7.58.
• Despite strong institutional interest, Eos Energy's recent quarterly performance was disappointing, reporting a loss of ($1.05) EPS compared to expectations of ($0.17).

Eos Energy Enterprises (NASDAQ:EOSE - Get Free Report) was upgraded by research analysts at Zacks Research from a "strong sell" rating to a "hold" rating in a research note issued to investors on Tuesday,Zacks.com reports.

Other research analysts have also recently issued reports about the stock. Jefferies Financial Group started coverage on shares of Eos Energy Enterprises in a research note on Friday, September 5th. They issued a "hold" rating and a $6.50 price objective on the stock. TD Cowen raised their target price on shares of Eos Energy Enterprises from $5.50 to $6.00 and gave the company a "hold" rating in a research report on Friday, August 1st. Stifel Nicolaus raised their target price on shares of Eos Energy Enterprises from $8.50 to $10.00 and gave the company a "buy" rating in a research report on Friday, September 19th. Guggenheim raised their target price on shares of Eos Energy Enterprises from $6.00 to $10.00 and gave the company a "buy" rating in a research report on Friday, September 5th. Finally, B. Riley raised their target price on shares of Eos Energy Enterprises from $5.00 to $8.00 and gave the company a "neutral" rating in a research report on Tuesday. Two equities research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company. Based on data from MarketBeat.com, Eos Energy Enterprises has an average rating of "Hold" and a consensus price target of $7.58.

Eos Energy Enterprises Price Performance

Shares of NASDAQ:EOSE opened at $12.37 on Tuesday. The company's 50 day simple moving average is $7.47 and its 200 day simple moving average is $5.76. The stock has a market capitalization of $3.21 billion, a price-to-earnings ratio of -2.37 and a beta of 2.28. Eos Energy Enterprises has a 1 year low of $2.06 and a 1 year high of $12.40.

Eos Energy Enterprises (NASDAQ:EOSE - Get Free Report) last announced its quarterly earnings data on Wednesday, July 30th. The company reported ($1.05) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.17) by ($0.88). The company had revenue of $15.24 million for the quarter, compared to analyst estimates of $24.96 million. Eos Energy Enterprises has set its FY 2025 guidance at EPS. As a group, analysts anticipate that Eos Energy Enterprises will post -2.54 EPS for the current fiscal year.

Insider Activity at Eos Energy Enterprises

In other news, Director Alexander Dimitrief sold 45,000 shares of Eos Energy Enterprises stock in a transaction on Monday, August 4th. The shares were sold at an average price of $6.00, for a total transaction of $270,000.00. Following the transaction, the director owned 219,452 shares in the company, valued at approximately $1,316,712. The trade was a 17.02% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, General Counsel Michael W. Silberman sold 65,625 shares of Eos Energy Enterprises stock in a transaction on Tuesday, July 29th. The stock was sold at an average price of $5.94, for a total transaction of $389,812.50. Following the transaction, the general counsel owned 241,612 shares in the company, valued at approximately $1,435,175.28. This trade represents a 21.36% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 683,198 shares of company stock valued at $4,010,778 in the last quarter. Insiders own 3.30% of the company's stock.

Hedge Funds Weigh In On Eos Energy Enterprises

A number of hedge funds have recently modified their holdings of the business. Tower Research Capital LLC TRC lifted its holdings in shares of Eos Energy Enterprises by 360.7% during the second quarter. Tower Research Capital LLC TRC now owns 46,427 shares of the company's stock worth $238,000 after purchasing an additional 36,349 shares during the period. Zuckerman Investment Group LLC acquired a new position in shares of Eos Energy Enterprises during the second quarter worth $78,000. EVR Research LP lifted its holdings in shares of Eos Energy Enterprises by 81.0% during the second quarter. EVR Research LP now owns 760,000 shares of the company's stock worth $3,891,000 after purchasing an additional 340,000 shares during the period. Electron Capital Partners LLC lifted its holdings in shares of Eos Energy Enterprises by 39.9% during the second quarter. Electron Capital Partners LLC now owns 6,979,422 shares of the company's stock worth $35,735,000 after purchasing an additional 1,989,144 shares during the period. Finally, Engineers Gate Manager LP acquired a new position in Eos Energy Enterprises in the second quarter valued at $11,840,000. Institutional investors and hedge funds own 54.87% of the company's stock.

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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