Eos Energy Enterprises, Inc. (NASDAQ:EOSE) Given Average Recommendation of “Moderate Buy” by Brokerages

Eos Energy Enterprises, Inc. (NASDAQ:EOSE) has received an average recommendation of “Moderate Buy” from the seven brokerages that are currently covering the company, MarketBeat.com reports. Two equities research analysts have rated the stock with a hold recommendation and five have given a buy recommendation to the company. The average 12-month price target among brokers that have issued a report on the stock in the last year is $3.67.

Separately, Stifel Nicolaus reaffirmed a “buy” rating and issued a $6.00 price target on shares of Eos Energy Enterprises in a research note on Wednesday, August 21st.

Eos Energy Enterprises Stock Up 1.3 %

EOSE opened at $3.15 on Friday. The company has a market cap of $682.63 million, a price-to-earnings ratio of -4.57 and a beta of 2.38. The firm’s fifty day simple moving average is $2.83 and its two-hundred day simple moving average is $1.81. Eos Energy Enterprises has a 52-week low of $0.61 and a 52-week high of $3.66.

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 analysts’ consensus estimates of ($0.19) by ($0.11). The company had revenue of $0.90 million for the quarter, compared to analysts’ expectations of $4.38 million. On average, research analysts forecast that Eos Energy Enterprises will post -0.78 EPS for the current year.

Insiders Place Their Bets

In related news, Director Jeffrey S. Bornstein sold 30,000 shares of Eos Energy Enterprises stock in a transaction that occurred 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 transaction, the director now owns 84,929 shares in the company, valued at approximately $222,513.98. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In other news, CEO Joe Mastrangelo bought 52,800 shares of the firm’s stock in a transaction on Friday, August 9th. The shares were bought 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 directly owns 909,793 shares of the company’s stock, valued at $1,301,003.99. This trade represents a 0.00 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Jeffrey S. Bornstein sold 30,000 shares of the firm’s stock in a transaction that occurred 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 sale, the director now owns 84,929 shares of the company’s stock, valued at $222,513.98. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 3.80% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the business. Hollencrest Capital Management raised its holdings in Eos Energy Enterprises by 1,000.0% in the 3rd quarter. Hollencrest Capital Management now owns 8,250 shares of the company’s stock valued at $25,000 after buying an additional 7,500 shares during the period. Focused Wealth Management Inc acquired a new stake in shares of Eos Energy Enterprises during the third quarter valued at about $46,000. Venture Visionary Partners LLC purchased a new stake in shares of Eos Energy Enterprises in the 3rd quarter valued at approximately $59,000. Duncan Williams Asset Management LLC purchased a new stake in shares of Eos Energy Enterprises in the 3rd quarter valued at approximately $62,000. Finally, Ground Swell Capital LLC acquired a new position in shares of Eos Energy Enterprises in the 2nd quarter worth approximately $34,000. 54.87% of the stock is currently 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.