Eos Energy Enterprises, Inc. (NASDAQ:EOSE) Receives Consensus Recommendation of “Buy” from Analysts

Shares of Eos Energy Enterprises, Inc. (NASDAQ:EOSEGet Rating) have been assigned a consensus recommendation of “Buy” from the eight brokerages that are currently covering the stock, MarketBeat Ratings reports. Two research analysts have rated the stock with a hold recommendation and five have issued a buy recommendation on the company. The average 1 year price objective among brokers that have issued a report on the stock in the last year is $19.00.

EOSE has been the topic of several analyst reports. Guggenheim started coverage on shares of Eos Energy Enterprises in a report on Tuesday, March 22nd. They set a “neutral” rating on the stock. B. Riley cut their price objective on shares of Eos Energy Enterprises from $13.00 to $7.00 in a report on Wednesday, May 11th.

In related news, CEO Joe Mastrangelo purchased 70,000 shares of Eos Energy Enterprises stock in a transaction dated Thursday, May 12th. The shares were acquired at an average price of $1.40 per share, with a total value of $98,000.00. Following the completion of the transaction, the chief executive officer now owns 338,727 shares of the company’s stock, valued at approximately $474,217.80. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink. Company insiders own 8.10% of the company’s stock.

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Morgan Stanley increased its stake in shares of Eos Energy Enterprises by 16.4% in the second quarter. Morgan Stanley now owns 89,545 shares of the company’s stock valued at $1,608,000 after purchasing an additional 12,625 shares during the period. Royal Bank of Canada increased its stake in shares of Eos Energy Enterprises by 63.4% in the second quarter. Royal Bank of Canada now owns 2,618 shares of the company’s stock valued at $48,000 after purchasing an additional 1,016 shares during the period. Bank of America Corp DE increased its stake in shares of Eos Energy Enterprises by 416.3% in the second quarter. Bank of America Corp DE now owns 6,222 shares of the company’s stock valued at $111,000 after purchasing an additional 5,017 shares during the period. Wells Fargo & Company MN increased its stake in shares of Eos Energy Enterprises by 33.8% in the second quarter. Wells Fargo & Company MN now owns 12,269 shares of the company’s stock valued at $220,000 after purchasing an additional 3,097 shares during the period. Finally, Citigroup Inc. increased its stake in shares of Eos Energy Enterprises by 451.1% in the third quarter. Citigroup Inc. now owns 4,861 shares of the company’s stock valued at $68,000 after purchasing an additional 3,979 shares during the period. Hedge funds and other institutional investors own 64.36% of the company’s stock.

Eos Energy Enterprises stock traded up $0.08 during midday trading on Friday, reaching $1.42. The company’s stock had a trading volume of 2,894,495 shares, compared to its average volume of 2,999,031. The company has a debt-to-equity ratio of 3.16, a quick ratio of 2.54 and a current ratio of 2.84. Eos Energy Enterprises has a fifty-two week low of $1.00 and a fifty-two week high of $20.10. The firm has a market capitalization of $77.32 million, a PE ratio of -0.51 and a beta of 2.30. The stock’s 50 day simple moving average is $1.93 and its 200 day simple moving average is $4.01.

Eos Energy Enterprises (NASDAQ:EOSEGet Rating) last issued its quarterly earnings data on Tuesday, May 10th. The company reported ($0.85) EPS for the quarter, missing analysts’ consensus estimates of ($0.56) by ($0.29). Eos Energy Enterprises had a negative net margin of 1,921.25% and a negative return on equity of 317.81%. During the same quarter last year, the firm earned ($0.42) earnings per share. Equities analysts predict that Eos Energy Enterprises will post -2.26 earnings per share for the current year.

Eos Energy Enterprises Company Profile (Get Rating)

Eos Energy Enterprises, Inc designs, manufactures, and deploys battery storage solutions for utility, commercial and 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 requirements of the grid-scale energy storage market.

Further Reading

Analyst Recommendations for Eos Energy Enterprises (NASDAQ:EOSE)

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