Eos Energy Enterprises (NASDAQ:EOSE) Upgraded to Moderate Buy at Needham & Company LLC

Key Points

• Needham & Company LLC upgraded Eos Energy Enterprises to “moderate buy.” The move comes amid a mix of analyst opinions, with the broader consensus still sitting at Hold and an average price target of $10.94.
• Recent earnings came in better than expected. Eos reported $0.12 EPS versus expectations for a loss of ($0.22), and revenue of $56.96 million also topped estimates.
• Insider and institutional activity has been active. CEO Joe Mastrangelo bought 60,000 shares, while some institutional investors increased their holdings; institutions now own about 54.87% of the stock.

Eos Energy Enterprises (NASDAQ:EOSE - Get Free Report) was upgraded by investment analysts at Needham & Company LLC to a "moderate buy" rating in a report issued on Friday,Zacks.com reports.

Several other equities research analysts also recently commented on the stock. TD Cowen upped their target price on shares of Eos Energy Enterprises from $7.00 to $8.00 and gave the company a "hold" rating in a research note on Thursday, May 14th. 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. Wall Street Zen raised shares of Eos Energy Enterprises from a "strong sell" rating to a "hold" rating in a research note on Saturday, May 16th. JPMorgan Chase & Co. lowered their target price on shares of Eos Energy Enterprises from $9.00 to $6.00 and set a "neutral" rating for the company in a research note on Thursday, April 16th. Finally, Guggenheim reaffirmed a "neutral" rating and issued a $20.00 target price on shares of Eos Energy Enterprises in a research note on Friday, February 27th. Two research analysts have 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. According to MarketBeat, the stock has a consensus rating of "Hold" and an average price target of $10.94.

Eos Energy Enterprises Price Performance

EOSE opened at $8.06 on Friday. The company has a market cap of $2.74 billion, a price-to-earnings ratio of -1.21 and a beta of 2.56. The firm has a 50 day simple moving average of $6.33 and a 200 day simple moving average of $10.78. Eos Energy Enterprises has a fifty-two week low of $3.69 and a fifty-two week high of $19.86.

Eos Energy Enterprises (NASDAQ:EOSE - Get Free Report) last posted its quarterly earnings results 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 for the quarter, compared to the consensus estimate of $54.32 million. As a group, analysts expect that Eos Energy Enterprises will post -0.8 EPS for the current year.

Insider Activity at Eos Energy Enterprises

In related news, CEO Joe Mastrangelo purchased 60,000 shares of Eos Energy Enterprises stock in a transaction dated Monday, March 2nd. The stock was bought at an average price of $5.75 per share, for a total transaction of $345,000.00. Following the completion of the acquisition, the chief executive officer directly owned 1,463,226 shares of the company's stock, valued at $8,413,549.50. This represents a 4.28% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Marian Walters sold 7,681 shares of the company's stock in a transaction that occurred on Tuesday, May 19th. The shares were sold at an average price of $7.07, for a total transaction of $54,304.67. Following the completion of the transaction, the director owned 135,334 shares of the company's stock, valued at $956,811.38. This trade represents a 5.37% decrease in their position. The SEC filing for this sale provides additional information. Insiders have purchased 115,150 shares of company stock worth $692,962 over the last ninety days. 1.73% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Inspire Investing LLC boosted its holdings in shares of Eos Energy Enterprises by 2.2% in the fourth quarter. Inspire Investing LLC now owns 41,442 shares of the company's stock valued at $475,000 after buying an additional 882 shares during the period. Towarzystwo Funduszy Inwestycyjnych PZU SA boosted its holdings in shares of Eos Energy Enterprises by 58.8% in the fourth quarter. Towarzystwo Funduszy Inwestycyjnych PZU SA now owns 2,700 shares of the company's stock valued at $31,000 after buying an additional 1,000 shares during the period. GAMMA Investing LLC boosted 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 valued at $37,000 after buying an additional 1,036 shares during the period. Diversify Advisory Services LLC boosted its holdings 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 buying an additional 1,049 shares during the period. Finally, Caitong International Asset Management Co. Ltd boosted its holdings 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 buying an additional 1,425 shares during the period. 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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