Eos Energy Enterprises, Inc. (NASDAQ:EOSE) Stock Now Rated “Hold” by Wall Street Analysts

Shares of Eos Energy Enterprises, Inc. (NASDAQ:EOSE) have earned a consensus rating of “Hold” from the ten research firms that are currently covering the company, MarketBeat.com reports. One equities research analyst has rated the stock with a sell recommendation, six have given a hold recommendation, two have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 1 year price objective among analysts that have updated their coverage on the stock in the last year is $8.19.

EOSE has been the topic of several analyst reports. TD Cowen raised shares of Eos Energy Enterprises to a “hold” rating in a research note on Monday, October 5th. B. Riley Financial cut their price objective on shares of Eos Energy Enterprises from $8.00 to $5.00 and set a “neutral” rating on the stock in a report on Friday, August 14th. Weiss Ratings reissued a “sell (d-)” rating on shares of Eos Energy Enterprises in a research report on Thursday. Roth Capital upped their price objective on shares of Eos Energy Enterprises from $4.00 to $4.50 and gave the company a “neutral” rating in a research report on Thursday, September 10th. Finally, Wall Street Zen downgraded Eos Energy Enterprises from a “sell” rating to a “strong sell” rating in a research note on Saturday, August 8th.

Insiders Place Their Bets

In other Eos Energy Enterprises news, insider Nathan Kroeker sold 110,417 shares of the firm’s stock in a transaction that occurred on Tuesday, July 28th. The stock was sold at an average price of $3.36, for a total transaction of $371,001.12. Following the completion of the sale, the insider owned 887,527 shares in the company, valued at $2,982,090.72. This trade represents a 11.06% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Haiyan Song acquired 10,000 shares of the stock in a transaction on Friday, September 11th. The shares were acquired at an average price of $3.95 per share, with a total value of $39,500.00. Following the purchase, the director owned 10,000 shares in the company, valued at $39,500. This represents a ∞ increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. In the last ninety days, insiders have sold 626,655 shares of company stock worth $2,336,158. 1.73% of the stock is owned by insiders.

Hedge Funds Weigh In On Eos Energy Enterprises

A number of institutional investors have recently made changes to their positions in EOSE. Allworth Financial LP grew its position in shares of Eos Energy Enterprises by 198.6% during the second quarter. Allworth Financial LP now owns 4,300 shares of the company’s stock worth $25,000 after buying an additional 2,860 shares in the last quarter. Sax Wealth Advisors LLC bought a new stake in shares of Eos Energy Enterprises in the third quarter worth $31,000. PNC Financial Services Group Inc. increased its stake in shares of Eos Energy Enterprises by 279.4% in the first quarter. PNC Financial Services Group Inc. now owns 9,577 shares of the company’s stock worth $48,000 after buying an additional 7,053 shares during the last quarter. KFA Private Wealth Group LLC acquired a new stake in Eos Energy Enterprises in the first quarter valued at $50,000. Finally, Laurel Oak Wealth Management LLC acquired a new stake in Eos Energy Enterprises in the first quarter valued at $55,000. 54.87% of the stock is owned by institutional investors and hedge funds.

Eos Energy Enterprises Stock Down 15.7%

EOSE opened at $1.82 on Tuesday. The firm has a market capitalization of $662.79 million, a P/E ratio of -0.27 and a beta of 2.88. The firm’s 50 day moving average is $3.46 and its 200-day moving average is $5.16. Eos Energy Enterprises has a 52-week low of $1.80 and a 52-week high of $19.86.

Eos Energy Enterprises (NASDAQ:EOSE) last posted its earnings results on Wednesday, August 5th. The company reported ($1.20) EPS for the quarter, missing analysts’ consensus estimates of ($0.19) by ($1.01). The firm had revenue of $68.78 million for the quarter, compared to analyst estimates of $68.32 million. During the same quarter in the prior year, the firm posted ($1.05) earnings per share. Equities analysts expect that Eos Energy Enterprises will post -1.28 earnings per share for the current fiscal year.

Eos Energy Enterprises Company Profile

Eos Energy Enterprises, Inc develops and manufactures long-duration energy storage systems designed to support the electric grid and renewable energy projects. Its technology is based on aqueous zinc battery chemistry, which is intended to provide a safer, nonflammable alternative to conventional lithium-ion systems for stationary energy storage.

The company’s primary product is the Eos Z3 energy storage system, a modular, utility-scale battery platform designed for applications such as renewable energy integration, grid resilience, peak-load management, and microgrids.