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

Eos Energy Enterprises, Inc. (NASDAQ:EOSE) has been assigned an average recommendation of “Moderate Buy” from the seven ratings firms that are covering the firm, Marketbeat Ratings reports. Two analysts have rated the stock with a hold rating and five have issued a buy rating on the company. The average twelve-month price target among brokerages that have updated their coverage on the stock in the last year is $3.67.

Several research firms recently weighed in on EOSE. 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. Roth Mkm reaffirmed a “buy” rating and set a $4.50 price target on shares of Eos Energy Enterprises in a report on Friday, June 28th. Finally, B. Riley raised Eos Energy Enterprises to a “hold” rating in a report on Tuesday, June 25th.

Insider Transactions at Eos Energy Enterprises

In related news, CEO Joe Mastrangelo acquired 52,800 shares of the business’s stock in a transaction that occurred on Friday, August 9th. The shares were bought at an average cost of $1.43 per share, with a total value of $75,504.00. Following the completion of the purchase, the chief executive officer now directly owns 909,793 shares in the company, valued at $1,301,003.99. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, Director Jeffrey S. Bornstein sold 30,000 shares of the company’s stock in a transaction 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 completion of the sale, the director now owns 84,929 shares in the company, valued at $222,513.98. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Joe Mastrangelo acquired 52,800 shares of Eos Energy Enterprises stock in a transaction on Friday, August 9th. The stock was acquired at an average price of $1.43 per share, with a total value of $75,504.00. Following the purchase, 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. Company insiders own 4.06% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. lifted its holdings in Eos Energy Enterprises by 6.6% during the 1st quarter. Vanguard Group Inc. now owns 9,375,916 shares of the company’s stock worth $9,657,000 after purchasing an additional 580,022 shares in the last quarter. Electron Capital Partners LLC lifted its holdings in Eos Energy Enterprises by 226.6% during the 4th quarter. Electron Capital Partners LLC now owns 6,958,125 shares of the company’s stock worth $7,584,000 after purchasing an additional 4,827,586 shares in the last quarter. Millennium Management LLC lifted its holdings in Eos Energy Enterprises by 5,744.5% during the 2nd quarter. Millennium Management LLC now owns 3,164,017 shares of the company’s stock worth $4,018,000 after purchasing an additional 3,109,880 shares in the last quarter. NewEdge Advisors LLC raised its holdings 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 acquiring an additional 600,143 shares in the last quarter. Finally, Mitsubishi UFJ Asset Management Co. Ltd. raised its holdings in shares of Eos Energy Enterprises by 51.2% in the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 435,129 shares of the company’s stock valued at $433,000 after acquiring an additional 147,350 shares in the last quarter. Institutional investors own 54.87% of the company’s stock.

Eos Energy Enterprises Price Performance

Shares of NASDAQ:EOSE opened at $2.75 on Friday. The company has a market capitalization of $572.35 million, a price-to-earnings ratio of -1.76 and a beta of 2.39. The firm’s 50 day simple moving average is $2.08 and its 200 day simple moving average is $1.33. Eos Energy Enterprises has a fifty-two week low of $0.61 and a fifty-two week high of $2.81.

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

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.