Eos Energy Enterprises (NASDAQ:EOSE) PT Raised to $17.00 at Evercore ISI

Eos Energy Enterprises (NASDAQ:EOSE) had its price objective lifted by equities researchers at Evercore ISI from $4.00 to $17.00 in a note issued to investors on Friday, Marketbeat reports. The firm presently has an “outperform” rating on the stock.

EOSE has been the subject of a number of other research reports. Seaport Res Ptn reaffirmed a “buy” rating on shares of Eos Energy Enterprises in a research report on Friday, July 28th. Guggenheim raised shares of Eos Energy Enterprises from a “neutral” rating to a “buy” rating and set a $10.00 price objective for the company in a research report on Friday, September 1st. Stifel Nicolaus upped their price objective on shares of Eos Energy Enterprises from $13.00 to $15.00 and gave the company a “buy” rating in a research report on Friday, September 1st. B. Riley upped their price objective on shares of Eos Energy Enterprises from $4.00 to $5.00 and gave the company a “neutral” rating in a research report on Friday, September 1st. Finally, TD Cowen started coverage on shares of Eos Energy Enterprises in a research report on Friday, June 2nd. They issued a “market perform” rating and a $2.50 price target for the company. Two analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $9.90.

Eos Energy Enterprises Price Performance

EOSE stock opened at $2.76 on Friday. Eos Energy Enterprises has a 52-week low of $0.95 and a 52-week high of $5.66. The company has a 50-day moving average of $3.22 and a two-hundred day moving average of $2.72. The stock has a market capitalization of $369.83 million, a price-to-earnings ratio of -0.74 and a beta of 2.63.

Eos Energy Enterprises (NASDAQ:EOSE) last released its quarterly earnings results on Monday, August 14th. The company reported ($0.60) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.35) by ($0.25). The business had revenue of $0.25 million for the quarter, compared to the consensus estimate of $1.52 million. Equities analysts expect that Eos Energy Enterprises will post -1.8 EPS for the current fiscal year.

Insider Buying and Selling

In related news, Director Claude Demby sold 20,143 shares of the stock in a transaction dated Thursday, September 7th. The shares were sold at an average price of $2.78, for a total value of $55,997.54. Following the completion of the transaction, the director now owns 62,012 shares of the company’s stock, valued at $172,393.36. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, Director Claude Demby sold 20,143 shares of the stock in a transaction that occurred on Thursday, September 7th. The shares were sold at an average price of $2.78, for a total transaction of $55,997.54. Following the sale, the director now directly owns 62,012 shares of the company’s stock, valued at $172,393.36. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Joe Mastrangelo purchased 31,199 shares of the firm’s stock in a transaction dated Friday, July 28th. The shares were bought at an average cost of $2.23 per share, for a total transaction of $69,573.77. Following the completion of the purchase, the chief executive officer now directly owns 554,299 shares of the company’s stock, valued at $1,236,086.77. The disclosure for this purchase can be found here. Insiders acquired 40,199 shares of company stock valued at $88,824 over the last quarter. Corporate insiders own 7.09% of the company’s stock.

Institutional Trading of Eos Energy Enterprises

Several hedge funds have recently modified their holdings of EOSE. Advisor Group Holdings Inc. grew its stake in shares of Eos Energy Enterprises by 899.6% during the first quarter. Advisor Group Holdings Inc. now owns 19,662 shares of the company’s stock valued at $82,000 after purchasing an additional 17,695 shares during the last quarter. JPMorgan Chase & Co. boosted its stake in Eos Energy Enterprises by 3,665.1% in the first quarter. JPMorgan Chase & Co. now owns 624,856 shares of the company’s stock valued at $2,612,000 after acquiring an additional 608,260 shares during the last quarter. Bank of Montreal Can bought a new position in Eos Energy Enterprises in the first quarter valued at approximately $51,000. Healthcare of Ontario Pension Plan Trust Fund bought a new position in Eos Energy Enterprises in the first quarter valued at approximately $172,000. Finally, BlackRock Inc. boosted its stake in Eos Energy Enterprises by 1.1% in the first quarter. BlackRock Inc. now owns 2,668,119 shares of the company’s stock valued at $11,153,000 after acquiring an additional 27,981 shares during the last quarter. 65.36% of the stock is owned by institutional investors.

About Eos Energy Enterprises

Eos Energy Enterprises, Inc designs, manufactures, and markets zinc-based energy storage solutions for utility, commercial and industrial, and microgrid markets in the United States. The company's flagship product is the Eos Znyth DC system, a battery that can be used as an alternative to Li-ion batteries.