Eos Energy Enterprises, Inc. (NASDAQ:EOSE) Receives Average “Buy” Rating from Analysts

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Shares of Eos Energy Enterprises, Inc. (NASDAQ:EOSE – Get Rating) have been assigned a consensus rating of “Buy” by the nine rating agencies that cover the company, Marketbeat.com reports. One financial analyst rated the stock with a sell recommendation, two gave the company a hold recommendation and five gave the company a buy recommendation. The 12-month average target price among brokers who have quoted the stock over the past year is $19.00.

Several brokerage firms have weighed in on EOSE. Zacks Investment Research upgraded Eos Energy Enterprises from a “hold” rating to a “sell” rating in a Monday, May 16 report. B. Riley lowered his price target on Eos Energy Enterprises from $13.00 to $7.00 in a Wednesday, May 11 report. Finally, Guggenheim began covering Eos Energy Enterprises in a Tuesday, March 22 report. They set a “neutral” rating for the company.

In the same vein, director Claude Demby purchased 13,200 shares of the company in a transaction dated Thursday March 3. The stock was purchased at an average cost of $3.79 per share, for a total transaction of $50,028.00. The transaction was disclosed in a legal filing with the SEC, which is available on the SEC’s website. Additionally, director Alexander Dimitrief purchased 20,000 shares of the company in a transaction dated Tuesday, March 1. The shares were purchased at an average price of $2.92 per share, with a total value of $58,400.00. Disclosure of this purchase can be found here. Insiders purchased a total of 206,350 shares of the company worth $474,779 over the past 90 days. Company insiders own 8.00% of the company’s shares.

Institutional investors and hedge funds have recently changed their stock holdings. Royal Bank of Canada increased its position in Eos Energy Enterprises shares by 63.4% in the second quarter. Royal Bank of Canada now owns 2,618 shares of the company valued at $48,000 after purchasing an additional 1,016 shares during the period. Ionic Capital Management LLC increased its position in Eos Energy Enterprises by 59.4% in Q3. Ionic Capital Management LLC now owns 4,834 shares of the company worth $68,000 after acquiring 1,801 additional shares in the last quarter. Citigroup Inc. increased its position in Eos Energy Enterprises by 451.1% in the third quarter. Citigroup Inc. now owns 4,861 shares of the company worth $68,000 after acquiring 3,979 additional shares in the last quarter. Bank of America Corp DE increased its position in Eos Energy Enterprises by 416.3% in the second quarter. Bank of America Corp DE now owns 6,222 shares of the company worth $111,000 after acquiring 5,017 additional shares in the last quarter. Finally, Daiwa Securities Group Inc. strengthened its position in Eos Energy Enterprises by 190.0% during the 4th quarter. Daiwa Securities Group Inc. now owns 10,635 shares of the company worth $80,000 after acquiring 6,968 additional shares in the last quarter. Institutional investors and hedge funds hold 64.36% of the company’s shares.

Shares of Eos Energy Enterprises traded down $0.05 during Tuesday’s trading, hitting $1.11. The company’s stock had a trading volume of 5,225 shares, compared to its average volume of 2,301,595. The stock has a 50-day moving average price of $2.92 and a two-cent moving average price. $5.17 days. The company has a current ratio of 2.84, a quick ratio of 2.54 and a debt ratio of 3.16. Eos Energy Enterprises has a one-year minimum of $1.00 and a one-year maximum of $21.80. The stock has a market capitalization of $60.44 million, a P/E ratio of -0.39 and a beta of 2.22.

Eos Energy Enterprises (NASDAQ:EOSE – Get Rating) last released its quarterly results on Tuesday, May 10. The company reported ($0.85) earnings per share (EPS) for the quarter, missing analyst consensus estimates of ($0.56) by ($0.29). Eos Energy Enterprises recorded a negative net margin of 1,921.25% and a negative return on equity of 317.81%. In the same period of the previous year, the company made ($0.42) earnings per share. As a group, sell-side analysts expect Eos Energy Enterprises to post -2.45 EPS for the current fiscal year.

Eos Energy Enterprises Company Profile (Get an assessment)

Eos Energy Enterprises, Inc designs, manufactures and deploys battery storage solutions for the utility, commercial, industrial and renewable energy markets in the United States. It offers stationary battery storage solutions. The company’s flagship product is the Eos Znyth DC battery system designed to meet the demands of the grid-scale energy storage market.

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