Eos Energy Enterprises (NASDAQ:EOSE) Stock Rating Upgraded by Zacks Research

Key Points

• Zacks Research upgraded Eos Energy (NASDAQ:EOSE) from a "strong sell" to a "hold" rating.
• The company posted a large quarterly EPS miss (loss of $2.77 vs. -$0.31 expected) and revenue of $30.5M vs. $39.6M expected, with analysts projecting roughly -$2.54 EPS for the year.
• Directors sold large stakes in December (550,000 shares combined) and insiders dumped ~816,134 shares worth $12.26M in the last quarter, while the Street's consensus remains an average Hold with a $12.44 price target.

Eos Energy Enterprises (NASDAQ:EOSE - Get Free Report) was upgraded by Zacks Research from a "strong sell" rating to a "hold" rating in a report released on Monday,Zacks.com reports.

Other equities analysts also recently issued research reports about the stock. JPMorgan Chase & Co. assumed coverage on shares of Eos Energy Enterprises in a report on Wednesday, December 17th. They issued a "neutral" rating and a $16.00 target price on the stock. Roth Capital set a $12.00 price target on Eos Energy Enterprises and gave the company a "neutral" rating in a research note on Wednesday, October 22nd. Weiss Ratings reissued a "sell (d-)" rating on shares of Eos Energy Enterprises in a report on Wednesday, October 8th. Guggenheim increased their price objective on shares of Eos Energy Enterprises from $10.00 to $20.00 and gave the company a "buy" rating in a research report on Wednesday, October 22nd. Finally, B. Riley boosted their target price on shares of Eos Energy Enterprises from $8.00 to $12.00 and gave the stock a "neutral" rating in a report on Tuesday, November 11th. Two equities research analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average target price of $12.44.

Eos Energy Enterprises Stock Up 4.3%

NASDAQ:EOSE opened at $16.82 on Monday. The business's 50-day simple moving average is $14.04 and its two-hundred day simple moving average is $10.77. The stock has a market cap of $4.85 billion, a PE ratio of -2.01 and a beta of 2.11. Eos Energy Enterprises has a 52 week low of $3.07 and a 52 week high of $19.86.

Eos Energy Enterprises (NASDAQ:EOSE - Get Free Report) last released its quarterly earnings data on Wednesday, November 5th. The company reported ($2.77) earnings per share for the quarter, missing analysts' consensus estimates of ($0.31) by ($2.46). The firm had revenue of $30.51 million during the quarter, compared to analysts' expectations of $39.55 million. Sell-side analysts anticipate that Eos Energy Enterprises will post -2.54 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Eos Energy Enterprises news, Director Marian Walters sold 50,000 shares of the business's stock in a transaction on Thursday, December 4th. The shares were sold at an average price of $15.81, for a total transaction of $790,500.00. Following the transaction, the director owned 135,334 shares in the company, valued at $2,139,630.54. The trade was a 26.98% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Russell Monoki Stidolph sold 500,000 shares of the firm's stock in a transaction dated Friday, December 5th. The stock was sold at an average price of $14.99, for a total transaction of $7,495,000.00. Following the completion of the sale, the director owned 2,153,272 shares of the company's stock, valued at $32,277,547.28. This trade represents a 18.84% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 816,134 shares of company stock worth $12,262,335 in the last quarter. Company insiders own 3.30% of the company's stock.

Institutional Investors Weigh In On Eos Energy Enterprises

Several hedge funds and other institutional investors have recently modified their holdings of EOSE. Chung Wu Investment Group LLC purchased a new position in Eos Energy Enterprises during the 3rd quarter valued at $30,000. GAMMA Investing LLC grew its holdings in shares of Eos Energy Enterprises by 46.4% in the fourth quarter. GAMMA Investing LLC now owns 3,270 shares of the company's stock worth $37,000 after purchasing an additional 1,036 shares during the last quarter. Farther Finance Advisors LLC increased its stake in Eos Energy Enterprises by 33.0% in the 3rd quarter. Farther Finance Advisors LLC now owns 3,325 shares of the company's stock worth $38,000 after buying an additional 825 shares during the period. CWM LLC increased its stake in Eos Energy Enterprises by 162.9% in the 3rd quarter. CWM LLC now owns 3,994 shares of the company's stock worth $45,000 after buying an additional 2,475 shares during the period. Finally, Ameritas Advisory Services LLC bought a new stake in Eos Energy Enterprises during the 3rd quarter valued at about $48,000. 54.87% of the stock is currently owned by hedge funds and other institutional investors.

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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