Eos Energy Enterprises (NASDAQ:EOSE) Upgraded by Wall Street Zen to Hold Rating

Key Points

• Wall Street Zen upgraded Eos Energy Enterprises from “strong sell” to “hold”, adding to a broader analyst picture that currently shows a consensus Hold rating with a $10.93 average price target.
• The company beat quarterly expectations, reporting $0.12 EPS versus the consensus loss estimate and revenue of $56.96 million, above analysts’ forecasts.
• There has also been notable insider and institutional activity: directors bought shares in recent months, while institutional investors continue to hold a majority stake of 54.87%.

Eos Energy Enterprises (NASDAQ:EOSE - Get Free Report) was upgraded by Wall Street Zen from a "strong sell" rating to a "hold" rating in a research report issued on Saturday.

A number of other brokerages also recently issued reports on EOSE. JPMorgan Chase & Co. lowered their price target on shares of Eos Energy Enterprises from $9.00 to $6.00 and set a "neutral" rating on the stock in a report on Thursday, April 16th. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Eos Energy Enterprises in a report on Tuesday, April 21st. B. Riley Financial decreased their price target on shares of Eos Energy Enterprises from $12.00 to $8.00 and set a "neutral" rating on the stock in a research note on Thursday, March 5th. Zacks Research raised shares of Eos Energy Enterprises from a "strong sell" rating to a "hold" rating in a research note on Tuesday, April 28th. Finally, Guggenheim reissued a "neutral" rating and issued a $20.00 price target on shares of Eos Energy Enterprises in a research note on Friday, February 27th. One equities research analyst has rated the stock with a Buy rating, seven have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus target price of $10.93.

Eos Energy Enterprises Price Performance

NASDAQ:EOSE opened at $7.86 on Friday. The firm has a market capitalization of $2.67 billion, a P/E ratio of -1.18 and a beta of 2.56. Eos Energy Enterprises has a 1-year low of $3.69 and a 1-year high of $19.86. The company's fifty day moving average price is $6.22 and its 200-day moving average price is $11.04.

Eos Energy Enterprises (NASDAQ:EOSE - Get Free Report) last released its quarterly earnings data on Wednesday, May 13th. The company reported $0.12 earnings per share for the quarter, topping analysts' consensus estimates of ($0.22) by $0.34. The business had revenue of $56.96 million during the quarter, compared to analyst estimates of $54.32 million. Equities analysts anticipate that Eos Energy Enterprises will post -0.9 EPS for the current fiscal year.

Insider Buying and Selling

In other news, Director Alexander Dimitrief acquired 15,000 shares of the business's stock in a transaction that occurred on Monday, March 2nd. The stock was purchased at an average cost of $6.04 per share, for a total transaction of $90,600.00. Following the completion of the transaction, the director owned 235,221 shares in the company, valued at approximately $1,420,734.84. This trade represents a 6.81% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director David Urban acquired 16,250 shares of the business's stock in a transaction that occurred on Monday, March 9th. The shares were purchased at an average price of $6.16 per share, with a total value of $100,100.00. Following the completion of the transaction, the director owned 62,471 shares of the company's stock, valued at $384,821.36. The trade was a 35.16% increase in their position. The disclosure for this purchase is available in the SEC filing. Over the last ninety days, insiders bought 115,150 shares of company stock worth $692,962. Insiders own 1.73% of the company's stock.

Institutional Investors Weigh In On Eos Energy Enterprises

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Inspire Investing LLC increased its position in shares of Eos Energy Enterprises by 2.2% during the fourth quarter. Inspire Investing LLC now owns 41,442 shares of the company's stock valued at $475,000 after acquiring an additional 882 shares during the last quarter. Towarzystwo Funduszy Inwestycyjnych PZU SA increased its position in shares of Eos Energy Enterprises by 58.8% during the fourth quarter. Towarzystwo Funduszy Inwestycyjnych PZU SA now owns 2,700 shares of the company's stock valued at $31,000 after acquiring an additional 1,000 shares during the last quarter. GAMMA Investing LLC increased its position in shares of Eos Energy Enterprises by 46.4% during the fourth quarter. GAMMA Investing LLC now owns 3,270 shares of the company's stock valued at $37,000 after acquiring an additional 1,036 shares during the last quarter. Diversify Advisory Services LLC boosted its stake in shares of Eos Energy Enterprises by 6.5% in the third quarter. Diversify Advisory Services LLC now owns 17,124 shares of the company's stock valued at $195,000 after purchasing an additional 1,049 shares during the period. Finally, Caitong International Asset Management Co. Ltd boosted its stake in shares of Eos Energy Enterprises by 33.1% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 5,732 shares of the company's stock valued at $66,000 after purchasing an additional 1,425 shares during the period. 54.87% of the stock is currently owned by institutional investors and hedge funds.

About Eos Energy Enterprises

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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