Eos Energy Enterprises, Inc. (NASDAQ:EOSE) Receives $7.30 Consensus Price Target from Analysts

Posted by on Sep 8th, 2023

Eos Energy Enterprises, Inc. (NASDAQ:EOSE – Get Free Report) has been assigned a consensus recommendation of “Moderate Buy” from the five brokerages that are presently covering the company, Marketbeat.com reports. Two equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The average 12 month target price among brokerages that have issued a report on the stock in the last year is $7.30.

EOSE has been the topic of a number of research analyst reports. TD Cowen started coverage on shares of Eos Energy Enterprises in a report on Friday, June 2nd. They issued a “market perform” rating and a $2.50 target price on the stock. B. Riley upped their price target on shares of Eos Energy Enterprises from $4.00 to $5.00 and gave the company a “neutral” rating in a research note on Friday, September 1st. Guggenheim upgraded shares of Eos Energy Enterprises from a “neutral” rating to a “buy” rating and set a $10.00 price objective for the company in a research note on Friday, September 1st. Seaport Res Ptn reissued a “buy” rating on shares of Eos Energy Enterprises in a report on Friday, July 28th. Finally, Stifel Nicolaus raised their target price on shares of Eos Energy Enterprises from $13.00 to $15.00 and gave the stock a “buy” rating in a report on Friday, September 1st.

View Our Latest Analysis on Eos Energy Enterprises

Insider Transactions at Eos Energy Enterprises

In other Eos Energy Enterprises news, CEO Joe Mastrangelo purchased 31,199 shares of the firm’s stock in a transaction dated Friday, July 28th. The shares were bought at an average price of $2.23 per share, for a total transaction of $69,573.77. Following the purchase, the chief executive officer now owns 554,299 shares in the company, valued at approximately $1,236,086.77. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In the last 90 days, insiders bought 40,199 shares of company stock valued at $88,824. Company insiders own 7.09% of the company’s stock.

Hedge Funds Weigh In On Eos Energy Enterprises

A number of institutional investors have recently added to or reduced their stakes in the stock. Advisor Group Holdings Inc. increased its holdings in Eos Energy Enterprises by 899.6% in the 1st quarter. Advisor Group Holdings Inc. now owns 19,662 shares of the company’s stock worth $82,000 after purchasing an additional 17,695 shares in the last quarter. JPMorgan Chase & Co. raised its stake in shares of Eos Energy Enterprises by 3,665.1% during the first quarter. JPMorgan Chase & Co. now owns 624,856 shares of the company’s stock valued at $2,612,000 after acquiring an additional 608,260 shares during the last quarter. Bank of Montreal Can acquired a new position in Eos Energy Enterprises during the 1st quarter worth about $51,000. Healthcare of Ontario Pension Plan Trust Fund bought a new stake in Eos Energy Enterprises in the first quarter valued at approximately $172,000. Finally, BlackRock Inc. boosted its stake in shares of Eos Energy Enterprises by 1.1% in the 1st quarter. BlackRock Inc. now owns 2,668,119 shares of the company’s stock valued at $11,153,000 after purchasing an additional 27,981 shares during the last quarter. 65.36% of the stock is currently owned by institutional investors and hedge funds.

Eos Energy Enterprises Price Performance

Eos Energy Enterprises stock opened at $2.81 on Tuesday. The company has a market cap of $376.51 million, a price-to-earnings ratio of -0.75 and a beta of 2.63. The firm has a 50-day moving average of $3.30 and a 200-day moving average of $2.71. Eos Energy Enterprises has a one year low of $0.95 and a one year high of $5.66.

Eos Energy Enterprises (NASDAQ:EOSE – Get Free Report) last issued its quarterly earnings results on Monday, August 14th. The company reported ($0.60) EPS for the quarter, missing the consensus estimate of ($0.35) by ($0.25). The company had revenue of $0.25 million during the quarter, compared to analysts’ expectations of $1.52 million. As a group, sell-side analysts expect that Eos Energy Enterprises will post -1.82 earnings per share for the current year.

About Eos Energy Enterprises

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Eos Energy Enterprises, Inc designs, manufactures, and markets zinc-based energy storage solutions for utility, commercial and industrial, and microgrid markets in the United States. The company's flagship product is the Eos Znyth DC system, a battery that can be used as an alternative to Li-ion batteries.

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Analyst Recommendations for Eos Energy Enterprises (NASDAQ:EOSE)

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