Eos Energy Enterprises, Inc. (NASDAQ:EOSE) Given Consensus Recommendation of "Moderate Buy" by Analysts

Eos Energy Enterprises, Inc. (NASDAQ:EOSE - Get Free Report) has been assigned a consensus recommendation of "Moderate Buy" from the seven ratings firms that are presently covering the stock, Marketbeat Ratings reports. Two research analysts have rated the stock with a hold recommendation and five have given a buy recommendation to the company. The average 1 year target price among analysts that have updated their coverage on the stock in the last year is $3.67.

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

Insider Transactions at Eos Energy Enterprises

In other news, CEO Joe Mastrangelo acquired 52,800 shares of the business's stock in a transaction dated 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 in the company, valued at $1,301,003.99. This trade represents a 0.00 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, Director Jeffrey S. Bornstein sold 30,000 shares of Eos Energy Enterprises stock in a transaction on Thursday, September 12th. The shares were 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. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Joe Mastrangelo purchased 52,800 shares of the stock in a transaction that occurred on Friday, August 9th. The stock was bought at an average price of $1.43 per share, with a total value of $75,504.00. Following the completion of the acquisition, the chief executive officer now owns 909,793 shares in the company, valued at $1,301,003.99. This represents a 0.00 % increase in their position. The disclosure for this purchase can be found here. Insiders own 3.80% of the company's stock.

Institutional Investors Weigh In On Eos Energy Enterprises

Institutional investors and hedge funds have recently modified their holdings of the stock. Millennium Management LLC boosted its stake in shares of Eos Energy Enterprises by 5,744.5% in the second quarter. Millennium Management LLC now owns 3,164,017 shares of the company's stock valued at $4,018,000 after purchasing an additional 3,109,880 shares during the period. NewEdge Advisors LLC lifted its holdings in Eos Energy Enterprises by 30.2% in the 2nd quarter. NewEdge Advisors LLC now owns 2,588,823 shares of the company's stock worth $3,288,000 after buying an additional 600,143 shares in the last quarter. Vanguard Group Inc. boosted its position in Eos Energy Enterprises by 6.6% in the 1st quarter. Vanguard Group Inc. now owns 9,375,916 shares of the company's stock valued at $9,657,000 after buying an additional 580,022 shares during the last quarter. B. Riley Wealth Advisors Inc. grew its stake in Eos Energy Enterprises by 940.6% during the 1st quarter. B. Riley Wealth Advisors Inc. now owns 275,765 shares of the company's stock valued at $284,000 after purchasing an additional 249,265 shares in the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. purchased a new stake in Eos Energy Enterprises during the 2nd quarter worth approximately $216,000. Hedge funds and other institutional investors own 54.87% of the company's stock.

Eos Energy Enterprises Trading Up 1.3 %

Shares of NASDAQ:EOSE traded up $0.04 on Friday, hitting $3.15. The company had a trading volume of 6,916,091 shares, compared to its average volume of 6,141,435. The company has a market cap of $682.64 million, a PE ratio of -4.57 and a beta of 2.38. The business has a 50 day moving average of $2.83 and a 200 day moving average of $1.82. Eos Energy Enterprises has a 52-week low of $0.61 and a 52-week high of $3.66.

Eos Energy Enterprises (NASDAQ:EOSE - Get Free Report) last issued its quarterly earnings results on Tuesday, August 6th. The company reported ($0.30) EPS for the quarter, missing analysts' consensus estimates of ($0.19) by ($0.11). The firm had revenue of $0.90 million for the quarter, compared to analyst estimates of $4.38 million. As a group, equities analysts predict that Eos Energy Enterprises will post -0.78 EPS for the current year.

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.