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

Eos Energy Enterprises, Inc. (NASDAQ:EOSE) – Investment analysts at B. Riley reduced their Q1 2024 EPS estimates for shares of Eos Energy Enterprises in a research report issued to clients and investors on Monday, April 22nd. B. Riley analyst C. Souther now anticipates that the company will post earnings per share of ($0.31) for the quarter, down from their previous estimate 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.

A number of other research firms have also weighed in on EOSE. Evercore ISI dropped their price objective on Eos Energy Enterprises from $12.00 to $7.00 and set an “outperform” rating for the company in a research note on Wednesday, March 6th. Guggenheim decreased their price objective on shares of Eos Energy Enterprises from $10.00 to $4.00 and set a “buy” rating on the stock in a research report on Thursday, March 7th. Two equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $6.08.

Eos Energy Enterprises Price Performance

Shares of EOSE stock opened at $0.76 on Wednesday. The business has a 50-day moving average of $0.96 and a 200 day moving average of $1.16. Eos Energy Enterprises has a 1-year low of $0.70 and a 1-year high of $5.67. The stock has a market capitalization of $154.10 million, a PE ratio of -0.35 and a beta of 2.23.

Eos Energy Enterprises (NASDAQ:EOSE) last announced its quarterly earnings data on Monday, March 4th. The company reported ($0.16) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.22) by $0.06. The company had revenue of $6.61 million for the quarter.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Exchange Traded Concepts LLC purchased a new position in Eos Energy Enterprises during the 3rd quarter valued at about $35,000. Grimes & Company Inc. bought a new position in shares of Eos Energy Enterprises during the fourth quarter valued at $44,000. Powell Investment Advisors LLC raised its position in shares of 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 purchasing an additional 28,000 shares during the last quarter. Twin Focus Capital Partners LLC bought a new position in Eos Energy Enterprises in the 3rd quarter worth about $54,000. Finally, Elevatus Welath Management purchased a new stake in Eos Energy Enterprises during the 4th quarter valued at about $70,000. Hedge funds and other institutional investors own 54.87% of the company’s stock.

About Eos Energy Enterprises

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.