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

Key Points

• Zacks Research upgraded Eos Energy from a "strong sell" to a "hold"; the stock's consensus rating is "Hold" with a consensus price target of $10.64 (1 Buy, 7 Hold, 1 Sell).
• Eos reported a sharp quarterly miss—EPS of ($0.84) vs. estimates of ($0.20) and revenue of $58.0M vs. $93.36M expected—and analysts forecast about (‑0.66) EPS for the current year.
• Insiders bought shares recently (CEO purchased 60,000 at $5.75; a director bought 16,250 at $6.16), while the stock trades near $6.34 with a 52‑week range of $3.69–$19.86 and a market cap of ~$2.15B.

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

EOSE has been the subject of a number of other reports. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Eos Energy Enterprises in a report on Tuesday, April 21st. B. Riley Financial lowered their price objective on Eos Energy Enterprises from $12.00 to $8.00 and set a "neutral" rating for the company in a research report on Thursday, March 5th. Wall Street Zen lowered Eos Energy Enterprises from a "sell" rating to a "strong sell" rating in a research report on Saturday, April 18th. JPMorgan Chase & Co. lowered their price objective on Eos Energy Enterprises from $9.00 to $6.00 and set a "neutral" rating for the company in a research report on Thursday, April 16th. Finally, Guggenheim reaffirmed a "neutral" rating and set a $20.00 target price on shares of Eos Energy Enterprises in a report on Friday, February 27th. One analyst has rated the stock with a Buy rating, seven have given a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus price target of $10.64.

Eos Energy Enterprises Stock Performance

Shares of NASDAQ EOSE opened at $6.34 on Tuesday. The business has a fifty day moving average of $6.45 and a two-hundred day moving average of $11.64. Eos Energy Enterprises has a 52-week low of $3.69 and a 52-week high of $19.86. The stock has a market cap of $2.15 billion, a PE ratio of -0.91 and a beta of 2.33.

Eos Energy Enterprises (NASDAQ:EOSE - Get Free Report) last released its quarterly earnings results on Thursday, February 26th. The company reported ($0.84) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.20) by ($0.64). The company had revenue of $58.00 million during the quarter, compared to analyst estimates of $93.36 million. Analysts predict that Eos Energy Enterprises will post -0.66 earnings per share for the current year.

Insiders Place Their Bets

In other news, Director David Urban purchased 16,250 shares of Eos Energy Enterprises stock in a transaction on Monday, March 9th. The stock was purchased at an average price of $6.16 per share, with a total value of $100,100.00. Following the transaction, the director directly owned 62,471 shares in the company, valued at $384,821.36. The trade was a 35.16% increase in their position. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CEO Joe Mastrangelo purchased 60,000 shares of Eos Energy Enterprises stock in a transaction on Monday, March 2nd. The shares were purchased at an average cost of $5.75 per share, with a total value of $345,000.00. Following the transaction, the chief executive officer owned 1,463,226 shares in the company, valued at approximately $8,413,549.50. The trade was a 4.28% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Insiders bought a total of 115,150 shares of company stock valued at $692,962 in the last quarter. 3.30% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Eos Energy Enterprises

A number of large investors have recently bought and sold shares of the company. L.K. Benson & Company P.C. acquired a new stake in shares of Eos Energy Enterprises in the 3rd quarter valued at approximately $887,000. DNB Asset Management AS boosted its holdings in shares of Eos Energy Enterprises by 22.4% in the 3rd quarter. DNB Asset Management AS now owns 1,034,086 shares of the company's stock valued at $11,778,000 after buying an additional 189,039 shares during the last quarter. Park Avenue Securities LLC acquired a new stake in shares of Eos Energy Enterprises in the 4th quarter valued at approximately $4,307,000. Udine Wealth Management Inc. acquired a new stake in shares of Eos Energy Enterprises in the 3rd quarter valued at approximately $2,015,000. Finally, Vaughan Nelson Investment Management L.P. acquired a new stake in shares of Eos Energy Enterprises in the 4th quarter valued at approximately $22,330,000. Institutional investors and hedge funds own 54.87% of the company's stock.

Eos Energy Enterprises Company Profile

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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