Eos Energy Enterprises, Inc. (NASDAQ:EOSE) Receives $3.67 Average Price Target from Analysts

Eos Energy Enterprises, Inc. (NASDAQ:EOSE) has been assigned a consensus recommendation of “Moderate Buy” from the seven analysts that are presently covering the stock, Marketbeat Ratings reports. Two analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The average 12-month target price among brokers that have covered the stock in the last year is $3.67.

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

Eos Energy Enterprises Stock Performance

EOSE stock opened at $2.45 on Friday. Eos Energy Enterprises has a one year low of $0.61 and a one year high of $2.81. The company’s fifty day moving average price is $2.10 and its 200-day moving average price is $1.35. The company has a market capitalization of $509.91 million, a PE ratio of -1.57 and a beta of 2.39.

Eos Energy Enterprises (NASDAQ:EOSE) last released its quarterly earnings results on Tuesday, August 6th. The company reported ($0.30) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.19) by ($0.11). The company had revenue of $0.90 million for the quarter, compared to the consensus estimate of $4.38 million. On average, research analysts predict that Eos Energy Enterprises will post -0.78 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, CEO Joe Mastrangelo purchased 52,800 shares of the stock in a transaction dated Friday, August 9th. The shares were acquired at an average cost of $1.43 per share, for a total transaction of $75,504.00. Following the acquisition, the chief executive officer now owns 909,793 shares of the company’s stock, valued at $1,301,003.99. The acquisition was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other news, CEO Joe Mastrangelo purchased 52,800 shares of the stock in a transaction dated Friday, August 9th. The shares were acquired at an average cost of $1.43 per share, for a total transaction of $75,504.00. Following the acquisition, the chief executive officer now owns 909,793 shares of the company’s stock, valued at $1,301,003.99. The acquisition was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Jeffrey S. Bornstein sold 30,000 shares of the firm’s stock in a transaction dated 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 sale, the director now owns 84,929 shares in the company, valued at $222,513.98. The disclosure for this sale can be found here. 4.06% of the stock is owned by company insiders.

Institutional Trading of Eos Energy Enterprises

A number of institutional investors have recently modified their holdings of EOSE. Electron Capital Partners LLC boosted its holdings in shares of Eos Energy Enterprises by 226.6% in the 4th quarter. Electron Capital Partners LLC now owns 6,958,125 shares of the company’s stock valued at $7,584,000 after buying an additional 4,827,586 shares in the last quarter. Millennium Management LLC raised its position in shares of Eos Energy Enterprises by 5,744.5% in the 2nd quarter. Millennium Management LLC now owns 3,164,017 shares of the company’s stock valued at $4,018,000 after purchasing an additional 3,109,880 shares during the last quarter. NewEdge Advisors LLC raised its position in shares of Eos Energy Enterprises by 30.2% in the 2nd quarter. NewEdge Advisors LLC now owns 2,588,823 shares of the company’s stock valued at $3,288,000 after purchasing an additional 600,143 shares during the last quarter. Vanguard Group Inc. raised its position in shares of Eos Energy Enterprises by 6.6% in the 1st quarter. Vanguard Group Inc. now owns 9,375,916 shares of the company’s stock valued at $9,657,000 after purchasing an additional 580,022 shares during the last quarter. Finally, B. Riley Wealth Advisors Inc. raised its position in shares of Eos Energy Enterprises by 940.6% in the 1st quarter. B. Riley Wealth Advisors Inc. now owns 275,765 shares of the company’s stock valued at $284,000 after purchasing an additional 249,265 shares during the last quarter. 54.87% of the stock is currently owned by institutional investors.

Eos Energy Enterprises Company Profile

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.