Eos Energy Enterprises (NASDAQ:EOSE) Lifted to “Hold” at Zacks Investment Research

Zacks Investment Research upgraded shares of Eos Energy Enterprises (NASDAQ:EOSEGet Rating) from a sell rating to a hold rating in a report issued on Monday, Zacks.com reports.

According to Zacks, “Eos Energy Storage LLC is a manufacturer of zinc battery storage systems. Eos Energy Storage LLC, formerly known as B. Riley Principal Merger Corp. II, is headquartered in Edison, New Jersey. “

Other equities research analysts have also recently issued reports about the stock. B. Riley decreased their price objective on shares of Eos Energy Enterprises from $14.00 to $13.00 and set a buy rating for the company in a report on Monday, February 28th. Guggenheim started coverage on shares of Eos Energy Enterprises in a report on Tuesday, March 22nd. They issued a neutral rating for the company. Three research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of Buy and an average target price of $20.20.

Eos Energy Enterprises stock opened at $2.13 on Monday. The company’s fifty day simple moving average is $3.31 and its 200-day simple moving average is $6.10. The company has a quick ratio of 4.33, a current ratio of 4.77 and a debt-to-equity ratio of 3.16. Eos Energy Enterprises has a 12 month low of $2.01 and a 12 month high of $21.80. The stock has a market cap of $114.93 million, a P/E ratio of -0.90 and a beta of 1.54.

Eos Energy Enterprises (NASDAQ:EOSEGet Rating) last issued its quarterly earnings data on Friday, February 25th. The company reported ($0.57) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.47) by ($0.10). The business had revenue of $3.10 million during the quarter, compared to the consensus estimate of $3.56 million. Eos Energy Enterprises had a negative return on equity of 144.26% and a negative net margin of 2,701.52%. During the same quarter in the prior year, the company posted ($7.04) earnings per share. On average, equities research analysts expect that Eos Energy Enterprises will post -2.15 earnings per share for the current fiscal year.

In related news, Director Claude Demby acquired 13,200 shares of the business’s stock in a transaction dated Thursday, March 3rd. The stock was acquired at an average price of $3.79 per share, with a total value of $50,028.00. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Randall B. Gonzales acquired 43,500 shares of the business’s stock in a transaction dated Tuesday, March 1st. The shares were bought at an average cost of $2.75 per share, with a total value of $119,625.00. The disclosure for this purchase can be found here. Insiders have acquired 121,350 shares of company stock valued at $355,179 over the last 90 days. Corporate insiders own 8.00% of the company’s stock.

Several institutional investors and hedge funds have recently made changes to their positions in EOSE. Royal Bank of Canada raised its position in shares of Eos Energy Enterprises by 63.4% during the second quarter. Royal Bank of Canada now owns 2,618 shares of the company’s stock valued at $48,000 after buying an additional 1,016 shares during the last quarter. Daiwa Securities Group Inc. acquired a new position in shares of Eos Energy Enterprises during the third quarter valued at about $51,000. Citigroup Inc. raised its position in shares of Eos Energy Enterprises by 451.1% during the third quarter. Citigroup Inc. now owns 4,861 shares of the company’s stock valued at $68,000 after buying an additional 3,979 shares during the last quarter. Ionic Capital Management LLC raised its position in shares of Eos Energy Enterprises by 59.4% during the third quarter. Ionic Capital Management LLC now owns 4,834 shares of the company’s stock valued at $68,000 after buying an additional 1,801 shares during the last quarter. Finally, B. Riley Asset Management LLC acquired a new position in shares of Eos Energy Enterprises during the fourth quarter valued at about $68,000. 64.36% of the stock is owned by institutional investors and hedge funds.

Eos Energy Enterprises Company Profile (Get Rating)

Eos Energy Enterprises, Inc designs, manufactures, and deploys battery storage solutions for utility, commercial and industrial, and renewable energy markets in the United States. It offers stationary battery storage solutions. The company's flagship product is the Eos Znyth DC battery system designed to meet the requirements of the grid-scale energy storage market.

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