Eos Energy Enterprises, Inc. (NASDAQ:EOSE) Given Consensus Recommendation of “Hold” by Brokerages

Shares of Eos Energy Enterprises, Inc. (NASDAQ:EOSE) have been given an average recommendation of “Hold” by the eleven analysts that are presently covering the company, Marketbeat Ratings reports. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and two have given a buy rating to the company. The average 1 year price objective among brokers that have updated their coverage on the stock in the last year is $12.4375.

A number of equities analysts have weighed in on EOSE shares. JPMorgan Chase & Co. began coverage on Eos Energy Enterprises in a research note on Wednesday, December 17th. They set a “neutral” rating and a $16.00 price objective on the stock. Roth Capital set a $12.00 price target on Eos Energy Enterprises and gave the stock a “neutral” rating in a report on Wednesday, October 22nd. B. Riley boosted their price target on shares of Eos Energy Enterprises from $8.00 to $12.00 and gave the company a “neutral” rating in a research report on Tuesday, November 11th. Zacks Research cut shares of Eos Energy Enterprises from a “hold” rating to a “strong sell” rating in a research report on Wednesday, October 29th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Eos Energy Enterprises in a research note on Wednesday, October 8th.

Eos Energy Enterprises Trading Up 9.0%

Shares of NASDAQ EOSE opened at $15.28 on Friday. The stock has a market cap of $4.40 billion, a PE ratio of -1.83 and a beta of 2.11. Eos Energy Enterprises has a 12-month low of $3.07 and a 12-month high of $19.86. The company has a 50-day moving average of $13.97 and a 200 day moving average of $10.56.

Eos Energy Enterprises (NASDAQ:EOSE) last issued its earnings results on Wednesday, November 5th. The company reported ($2.77) earnings per share for the quarter, missing the consensus estimate of ($0.31) by ($2.46). The firm had revenue of $30.51 million during the quarter, compared to analyst estimates of $39.55 million. On average, sell-side analysts forecast that Eos Energy Enterprises will post -2.54 EPS for the current fiscal year.

Insider Activity at Eos Energy Enterprises

In other news, Director Marian Walters sold 50,000 shares of Eos Energy Enterprises stock in a transaction that occurred on Thursday, December 4th. The shares were sold at an average price of $15.81, for a total transaction of $790,500.00. Following the sale, the director owned 135,334 shares of the company’s stock, valued at approximately $2,139,630.54. The trade was a 26.98% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Russell Monoki Stidolph sold 29,999 shares of the stock in a transaction that occurred on Monday, December 8th. The stock was sold at an average price of $15.36, for a total value of $460,784.64. Following the completion of the transaction, the director owned 2,123,273 shares of the company’s stock, valued at $32,613,473.28. The trade was a 1.39% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders have sold 816,134 shares of company stock worth $12,262,335. Corporate insiders own 3.30% of the company’s stock.

Institutional Trading of Eos Energy Enterprises

Institutional investors and hedge funds have recently bought and sold shares of the stock. Farther Finance Advisors LLC lifted its position in Eos Energy Enterprises by 33.0% in the third quarter. Farther Finance Advisors LLC now owns 3,325 shares of the company’s stock valued at $38,000 after buying an additional 825 shares during the last quarter. GAMMA Investing LLC lifted its holdings in shares of Eos Energy Enterprises by 46.4% in the 4th quarter. GAMMA Investing LLC now owns 3,270 shares of the company’s stock worth $37,000 after acquiring an additional 1,036 shares during the last quarter. Diversify Advisory Services LLC lifted its holdings in shares of Eos Energy Enterprises by 6.5% in the 3rd quarter. Diversify Advisory Services LLC now owns 17,124 shares of the company’s stock worth $195,000 after acquiring an additional 1,049 shares during the last quarter. Investment Advisory Group LLC boosted its position in shares of Eos Energy Enterprises by 7.0% during the 3rd quarter. Investment Advisory Group LLC now owns 23,000 shares of the company’s stock worth $262,000 after purchasing an additional 1,500 shares during the period. Finally, Copia Wealth Management increased its holdings in Eos Energy Enterprises by 54.7% in the 3rd quarter. Copia Wealth Management now owns 4,796 shares of the company’s stock valued at $55,000 after purchasing an additional 1,696 shares during the last quarter. 54.87% of the stock is currently owned by hedge funds and other institutional investors.

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.