B. Riley Has Bearish Outlook for EOSE FY2024 Earnings

Eos Energy Enterprises, Inc. (NASDAQ:EOSE) – Stock analysts at B. Riley cut their FY2024 earnings estimates for shares of Eos Energy Enterprises in a research note issued to investors on Thursday, November 7th. B. Riley analyst R. Pfingst now expects that the company will post earnings per share of ($2.49) for the year, down from their prior estimate of ($0.82). The consensus estimate for Eos Energy Enterprises’ current full-year earnings is ($2.08) per share. B. Riley also issued estimates for Eos Energy Enterprises’ Q4 2024 earnings at ($0.22) EPS, FY2025 earnings at ($0.58) EPS and FY2026 earnings at ($0.16) EPS.

Other research analysts also recently issued reports about the company. Stifel Nicolaus reiterated a “buy” rating and issued a $6.00 price target on shares of Eos Energy Enterprises in a report on Wednesday, August 21st. Roth Mkm decreased their price target on shares of Eos Energy Enterprises from $4.50 to $4.00 and set a “buy” rating for the company in a research report on Thursday, November 7th. Two investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, Eos Energy Enterprises has an average rating of “Moderate Buy” and an average target price of $3.90.

Eos Energy Enterprises Stock Down 4.8 %

Shares of EOSE stock opened at $2.38 on Monday. The company’s 50 day moving average is $2.86 and its 200 day moving average is $1.90. The firm has a market cap of $515.77 million, a price-to-earnings ratio of -0.98 and a beta of 2.38. Eos Energy Enterprises has a 52-week low of $0.61 and a 52-week high of $3.66.

Insider Activity

In related news, Director Jeffrey S. Bornstein sold 30,000 shares of the firm’s stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $2.62, for a total value of $78,600.00. Following the completion of the transaction, the director now owns 84,929 shares in the company, valued at $222,513.98. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Corporate insiders own 3.80% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the company. Millennium Management LLC raised its holdings in shares of Eos Energy Enterprises by 5,744.5% during the second 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 during the last quarter. NewEdge Advisors LLC grew its position in Eos Energy Enterprises by 30.2% during the 2nd 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 period. Vanguard Group Inc. grew its position 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 during the period. B. Riley Wealth Advisors Inc. raised its stake in shares of Eos Energy Enterprises by 940.6% during the 1st quarter. B. Riley Wealth Advisors Inc. now owns 275,765 shares of the company’s stock valued at $284,000 after buying an additional 249,265 shares during the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. purchased a new stake in shares of Eos Energy Enterprises in the second quarter worth about $216,000. 54.87% of the stock is owned by institutional investors and hedge funds.

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.