Eos Energy Enterprises, Inc. (NASDAQ:EOSE) Receives Consensus Rating of “Moderate Buy” from Analysts

Eos Energy Enterprises, Inc. (NASDAQ:EOSE) has earned an average rating of “Moderate Buy” from the seven brokerages that are currently covering the stock, Marketbeat reports. Two investment analysts have rated the stock with a hold rating and five have issued a buy rating on the company. The average 1 year price objective among brokerages that have issued ratings on the stock in the last year is $3.67.

EOSE has been the subject of several research analyst reports. Roth Mkm reissued a “buy” rating and issued a $4.50 price objective on shares of Eos Energy Enterprises in a report on Friday, June 28th. B. Riley upgraded shares of Eos Energy Enterprises to a “hold” rating in a research note on Tuesday, June 25th. Finally, Stifel Nicolaus reissued a “buy” rating and set a $6.00 price objective on shares of Eos Energy Enterprises in a research report on Wednesday, August 21st.

Eos Energy Enterprises Price Performance

NASDAQ EOSE opened at $2.39 on Friday. The firm’s fifty day moving average price is $2.11 and its 200 day moving average price is $1.37. Eos Energy Enterprises has a 12 month low of $0.61 and a 12 month high of $2.81. The company has a market capitalization of $497.43 million, a price-to-earnings ratio of -1.53 and a beta of 2.39.

Eos Energy Enterprises (NASDAQ:EOSE) last issued its quarterly earnings data on Tuesday, August 6th. The company reported ($0.30) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.19) by ($0.11). The business had revenue of $0.90 million during the quarter, compared to the consensus estimate of $4.38 million. As a group, sell-side analysts forecast that Eos Energy Enterprises will post -0.78 earnings per share for the current year.

Insider Activity at Eos Energy Enterprises

In other Eos Energy Enterprises news, Director Jeffrey S. Bornstein sold 30,000 shares of the company’s stock in a transaction on Thursday, September 12th. The shares were sold at an average price of $2.62, for a total transaction of $78,600.00. Following the completion of the transaction, the director now owns 84,929 shares in the company, valued at approximately $222,513.98. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other Eos Energy Enterprises news, Director Jeffrey S. Bornstein sold 30,000 shares of the business’s stock in a transaction that occurred on Thursday, September 12th. The stock was sold at an average price of $2.62, for a total transaction of $78,600.00. Following the transaction, the director now owns 84,929 shares in the company, valued at approximately $222,513.98. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Joe Mastrangelo purchased 52,800 shares of Eos Energy Enterprises stock in a transaction dated Friday, August 9th. The stock was acquired at an average cost of $1.43 per share, with a total value of $75,504.00. Following the completion of the acquisition, the chief executive officer now directly owns 909,793 shares in the company, valued at $1,301,003.99. The disclosure for this purchase can be found here. 4.06% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Eos Energy Enterprises

Institutional investors and hedge funds have recently made changes to their positions in the stock. Point72 DIFC Ltd purchased a new stake in Eos Energy Enterprises during the second quarter worth about $83,000. Cubist Systematic Strategies LLC grew its holdings in shares of Eos Energy Enterprises by 138,544.3% in the 2nd quarter. Cubist Systematic Strategies LLC now owns 134,485 shares of the company’s stock worth $171,000 after acquiring an additional 134,388 shares during the period. Point72 Asia Singapore Pte. Ltd. purchased a new position in Eos Energy Enterprises in the 2nd quarter valued at approximately $216,000. NewEdge Advisors LLC raised its holdings in Eos Energy Enterprises by 30.2% during the second quarter. NewEdge Advisors LLC now owns 2,588,823 shares of the company’s stock worth $3,288,000 after purchasing an additional 600,143 shares during the last quarter. Finally, Scientech Research LLC purchased a new stake in Eos Energy Enterprises during the second quarter worth $36,000. 54.87% of the stock is owned by institutional investors and hedge funds.

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.