Eos Energy Enterprises (NASDAQ:EOSE) Raised to “Strong-Buy” at Truist Financial

Eos Energy Enterprises (NASDAQ:EOSE) was upgraded by investment analysts at Truist Financial to a “strong-buy” rating in a research report issued to clients and investors on Monday,Zacks.com reports.

EOSE has been the subject of a number of other reports. Wall Street Zen lowered shares of Eos Energy Enterprises from a “hold” rating to a “sell” rating in a report on Saturday, July 4th. Weiss Ratings reissued a “sell (d-)” rating on shares of Eos Energy Enterprises in a report on Tuesday, April 21st. Zacks Research upgraded shares of Eos Energy Enterprises from a “strong sell” rating to a “hold” rating in a research report on Tuesday, April 28th. Needham & Company LLC initiated coverage on shares of Eos Energy Enterprises in a research note on Friday, May 22nd. They set a “buy” rating and a $11.00 price objective for the company. Finally, Stifel Nicolaus dropped their target price on shares of Eos Energy Enterprises from $12.00 to $10.00 and set a “buy” rating for the company in a report on Monday. One research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, seven have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average price target of $9.17.

Eos Energy Enterprises Trading Down 1.4%

NASDAQ EOSE opened at $4.29 on Monday. The firm has a market cap of $1.46 billion, a PE ratio of -0.64 and a beta of 2.68. Eos Energy Enterprises has a 1-year low of $4.05 and a 1-year high of $19.86. The stock has a 50-day moving average of $6.86 and a 200-day moving average of $8.74.

Eos Energy Enterprises (NASDAQ:EOSE) last announced its quarterly earnings data on Wednesday, May 13th. The company reported $0.12 earnings per share for the quarter, beating the consensus estimate of ($0.22) by $0.34. The company had revenue of $56.96 million during the quarter, compared to the consensus estimate of $54.32 million. As a group, equities research analysts forecast that Eos Energy Enterprises will post -0.31 earnings per share for the current fiscal year.

Insider Buying and Selling at Eos Energy Enterprises

In other news, insider Michelle Buczkowski sold 11,469 shares of the firm’s stock in a transaction that occurred on Tuesday, June 30th. The stock was sold at an average price of $5.87, for a total value of $67,323.03. Following the completion of the transaction, the insider owned 59,242 shares in the company, valued at $347,750.54. This trade represents a 16.22% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Michael W. Silberman sold 14,998 shares of Eos Energy Enterprises stock in a transaction that occurred on Tuesday, June 30th. The shares were sold at an average price of $5.87, for a total value of $88,038.26. Following the sale, the insider owned 298,277 shares in the company, valued at $1,750,885.99. This represents a 4.79% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last 90 days, insiders sold 157,569 shares of company stock worth $839,328. Insiders own 1.73% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. Inspire Investing LLC raised its position in shares of Eos Energy Enterprises by 2.2% during the 4th quarter. Inspire Investing LLC now owns 41,442 shares of the company’s stock valued at $475,000 after purchasing an additional 882 shares during the period. Towarzystwo Funduszy Inwestycyjnych PZU SA lifted its position in shares of Eos Energy Enterprises by 58.8% in the fourth quarter. Towarzystwo Funduszy Inwestycyjnych PZU SA now owns 2,700 shares of the company’s stock valued at $31,000 after acquiring an additional 1,000 shares in the last quarter. GAMMA Investing LLC boosted its stake in shares of Eos Energy Enterprises by 46.4% in the fourth quarter. GAMMA Investing LLC now owns 3,270 shares of the company’s stock worth $37,000 after acquiring an additional 1,036 shares during the period. Diversify Advisory Services LLC grew its position in shares of Eos Energy Enterprises by 6.5% during the third quarter. Diversify Advisory Services LLC now owns 17,124 shares of the company’s stock worth $195,000 after purchasing an additional 1,049 shares in the last quarter. Finally, Caitong International Asset Management Co. Ltd raised its stake in Eos Energy Enterprises by 33.1% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 5,732 shares of the company’s stock valued at $66,000 after purchasing an additional 1,425 shares during the period. 54.87% of the stock is owned by hedge funds and other institutional investors.

Eos Energy Enterprises Company Profile

Eos Energy Enterprises specializes in the development and deployment of scalable, long-duration energy storage systems designed to support the integration of renewable power and enhance grid reliability. The company’s core technology centers on its proprietary zinc hybrid cathode (Znyth™) battery platform, which aims to deliver safe, low-cost, and durable performance for utility, commercial and industrial, and microgrid applications.

The company’s flagship product, the Aurora™ energy storage system, combines its Znyth™ cells with modular power conversion and controls to offer flexible capacity ranging from one to three hours of discharge duration.