Eos Energy Enterprises, Inc. Expected to Post Q1 2024 Earnings of ($0.31) Per Share (NASDAQ:EOSE)

Eos Energy Enterprises, Inc. (NASDAQ:EOSE - Free Report) - Equities research analysts at B. Riley dropped their Q1 2024 EPS estimates for shares of Eos Energy Enterprises in a report issued on Monday, April 22nd. B. Riley analyst C. Souther now forecasts that the company will post earnings per share of ($0.31) for the quarter, down from their prior forecast of ($0.19). The consensus estimate for Eos Energy Enterprises' current full-year earnings is ($0.63) per share. B. Riley also issued estimates for Eos Energy Enterprises' Q2 2024 earnings at ($0.29) EPS, Q3 2024 earnings at ($0.30) EPS, Q4 2024 earnings at ($0.19) EPS, FY2024 earnings at ($1.09) EPS, FY2025 earnings at ($0.58) EPS and FY2026 earnings at $0.30 EPS.

Several other equities research analysts have also recently issued reports on the company. Guggenheim cut their price target on Eos Energy Enterprises from $10.00 to $4.00 and set a "buy" rating for the company in a research note on Thursday, March 7th. Evercore ISI reduced their price target on Eos Energy Enterprises from $12.00 to $7.00 and set an "outperform" rating on the stock in a report on Wednesday, March 6th. Two investment analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $6.08.

Eos Energy Enterprises Trading Down 0.8 %

EOSE stock traded down $0.01 during midday trading on Wednesday, reaching $0.76. 4,137,936 shares of the company were exchanged, compared to its average volume of 5,307,184. Eos Energy Enterprises has a one year low of $0.70 and a one year high of $5.67. The business has a 50-day moving average price of $0.96 and a two-hundred day moving average price of $1.16.

Eos Energy Enterprises (NASDAQ:EOSE - Get Free Report) last announced its quarterly earnings results on Monday, March 4th. The company reported ($0.16) earnings per share for the quarter, topping analysts' consensus estimates of ($0.22) by $0.06. The business had revenue of $6.61 million for the quarter.

Institutional Trading of Eos Energy Enterprises

Several institutional investors and hedge funds have recently made changes to their positions in EOSE. Exchange Traded Concepts LLC purchased a new stake in shares of Eos Energy Enterprises during the third quarter worth about $35,000. Grimes & Company Inc. bought a new stake in shares of Eos Energy Enterprises in the 4th quarter worth $44,000. Powell Investment Advisors LLC raised its position in Eos Energy Enterprises by 155.6% in the 4th quarter. Powell Investment Advisors LLC now owns 46,000 shares of the company's stock worth $50,000 after buying an additional 28,000 shares during the last quarter. Twin Focus Capital Partners LLC bought a new position in Eos Energy Enterprises during the third quarter valued at approximately $54,000. Finally, Elevatus Welath Management purchased a new position in shares of Eos Energy Enterprises in the 4th quarter worth $70,000. Hedge funds and other institutional investors own 54.87% of the company's stock.

Eos Energy Enterprises Company Profile

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.