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

Shares of Eos Energy Enterprises, Inc. (NASDAQ:EOSE) have earned a consensus recommendation of “Moderate Buy” from the seven ratings firms that are covering the stock, Marketbeat 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 target price among brokerages that have issued a report on the stock in the last year is $3.67.

Several equities analysts have recently weighed in on the company. Stifel Nicolaus restated a “buy” rating and set a $6.00 price target on shares of Eos Energy Enterprises in a report on Wednesday, August 21st. B. Riley upgraded shares of Eos Energy Enterprises to a “hold” rating in a research note on Tuesday, June 25th. Finally, Roth Mkm reiterated a “buy” rating and issued a $4.50 target price on shares of Eos Energy Enterprises in a research note on Friday, June 28th.

Insider Buying and Selling

In related news, CEO Joe Mastrangelo bought 52,800 shares of the business’s 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 transaction, the chief executive officer now owns 909,793 shares in the company, valued at approximately $1,301,003.99. This trade represents a 0.00 % increase in their position. The purchase was disclosed in a filing with the SEC, which is accessible through this link. In other news, CEO Joe Mastrangelo bought 52,800 shares of the stock in a transaction on Friday, August 9th. The shares were bought at an average price of $1.43 per share, with a total value of $75,504.00. Following the completion of the acquisition, the chief executive officer now owns 909,793 shares in the company, valued at $1,301,003.99. The trade was a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible 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 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 directly owns 84,929 shares in the company, valued at $222,513.98. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 3.80% of the stock is owned by corporate insiders.

Institutional Trading of Eos Energy Enterprises

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Duncan Williams Asset Management LLC purchased a new position in shares of Eos Energy Enterprises during the 3rd quarter valued at about $62,000. Ground Swell Capital LLC purchased a new position in Eos Energy Enterprises in the 2nd quarter worth approximately $34,000. Scientech Research LLC purchased a new position in Eos Energy Enterprises in the 2nd quarter worth approximately $36,000. Price T Rowe Associates Inc. MD raised its position in shares of Eos Energy Enterprises by 74.4% during the first quarter. Price T Rowe Associates Inc. MD now owns 43,930 shares of the company’s stock valued at $46,000 after buying an additional 18,735 shares during the last quarter. Finally, Point72 DIFC Ltd purchased a new position in shares of Eos Energy Enterprises in the second quarter worth $83,000. 54.87% of the stock is owned by hedge funds and other institutional investors.

Eos Energy Enterprises Stock Performance

Shares of NASDAQ EOSE opened at $3.14 on Wednesday. The company has a 50 day simple moving average of $2.41 and a two-hundred day simple moving average of $1.56. Eos Energy Enterprises has a fifty-two week low of $0.61 and a fifty-two week high of $3.30. The company has a market capitalization of $680.47 million, a price-to-earnings ratio of -4.55 and a beta of 2.40.

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

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.