What is B. Riley’s Forecast for EOSE FY2024 Earnings?

Eos Energy Enterprises, Inc. (NASDAQ:EOSE) – Equities researchers at B. Riley cut their FY2024 earnings per share estimates for shares of Eos Energy Enterprises in a report released on Thursday, November 7th. B. Riley analyst R. Pfingst now forecasts that the company will earn ($2.49) per share 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.

Several other research firms also recently commented on EOSE. Stifel Nicolaus reissued a “buy” rating and issued a $6.00 target price on shares of Eos Energy Enterprises in a report on Wednesday, August 21st. Roth Mkm cut their price objective on 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 analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $3.90.

Eos Energy Enterprises Trading Down 4.8 %

NASDAQ EOSE opened at $2.38 on Monday. Eos Energy Enterprises has a 12 month low of $0.61 and a 12 month high of $3.66. The stock has a market cap of $515.77 million, a PE ratio of -0.98 and a beta of 2.38. The stock’s 50 day moving average is $2.86 and its 200 day moving average is $1.90.

Institutional Investors Weigh In On Eos Energy Enterprises

Hedge funds and other institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. boosted its stake in shares of 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. Elevatus Welath Management grew its stake in shares of Eos Energy Enterprises by 50.0% during the first quarter. Elevatus Welath Management now owns 96,267 shares of the company’s stock valued at $99,000 after buying an additional 32,090 shares during the last quarter. American International Group Inc. grew its stake in shares of Eos Energy Enterprises by 41.2% during the first quarter. American International Group Inc. now owns 75,555 shares of the company’s stock valued at $78,000 after buying an additional 22,056 shares during the last quarter. PEAK6 Investments LLC purchased a new stake in shares of Eos Energy Enterprises in the first quarter worth approximately $103,000. Finally, Price T Rowe Associates Inc. MD lifted its stake in shares of Eos Energy Enterprises by 74.4% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 43,930 shares of the company’s stock worth $46,000 after acquiring an additional 18,735 shares during the last quarter. Hedge funds and other institutional investors own 54.87% of the company’s stock.

Insiders Place Their Bets

In other news, 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 value of $78,600.00. Following the completion of the sale, the director now directly owns 84,929 shares of the company’s stock, valued at $222,513.98. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 3.80% of the stock is currently owned by insiders.

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.