Eos Energy Enterprises, Inc. (NASDAQ:EOSE – Get Rating) – Stock analysts at B. Riley dropped their Q2 2022 EPS estimates for Eos Energy Enterprises in a research report issued on Wednesday, May 11th. B. Riley analyst C. Souther now forecasts that the company will post earnings per share of ($0.81) for the quarter, down from their previous estimate of ($0.63). B. Riley also issued estimates for Eos Energy Enterprises’ Q3 2022 earnings at ($0.56) EPS, Q4 2022 earnings at ($0.43) EPS, FY2022 earnings at ($2.59) EPS, FY2023 earnings at ($1.60) EPS and FY2024 earnings at ($0.05) EPS.
Eos Energy Enterprises (NASDAQ:EOSE – Get Rating) last announced its earnings results on Tuesday, May 10th. The company reported ($0.85) earnings per share (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 in the prior year, the firm posted ($0.42) earnings per share.
Several other equities research analysts have also recently weighed in on EOSE. Guggenheim initiated coverage on shares of Eos Energy Enterprises in a research report on Tuesday, March 22nd. They set a “neutral” rating for the company. Zacks Investment Research raised shares of Eos Energy Enterprises from a “sell” rating to a “hold” rating in a research report on Monday, May 2nd. Three research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, Eos Energy Enterprises presently has an average rating of “Buy” and a consensus price target of $19.00.
EOSE opened at $1.40 on Monday. Eos Energy Enterprises has a twelve month low of $1.33 and a twelve month high of $21.80. The company has a 50-day simple moving average of $3.11 and a 200 day simple moving average of $5.51. The company has a quick ratio of 4.33, a current ratio of 2.84 and a debt-to-equity ratio of 3.16. The stock has a market capitalization of $75.54 million, a price-to-earnings ratio of -0.50 and a beta of 2.22.
Several institutional investors have recently added to or reduced their stakes in the company. Legal & General Group Plc increased its stake in shares of Eos Energy Enterprises by 28.8% in the fourth quarter. Legal & General Group Plc now owns 2,899,961 shares of the company’s stock valued at $21,808,000 after buying an additional 649,155 shares during the period. Invesco Ltd. increased its stake in shares of Eos Energy Enterprises by 26.5% in the fourth quarter. Invesco Ltd. now owns 2,760,549 shares of the company’s stock valued at $20,759,000 after buying an additional 578,512 shares during the period. BlackRock Inc. increased its position in Eos Energy Enterprises by 1.1% during 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 period. Vanguard Group Inc. increased its position in Eos Energy Enterprises by 6.1% during the 1st quarter. Vanguard Group Inc. now owns 2,098,832 shares of the company’s stock valued at $8,773,000 after purchasing an additional 120,677 shares during the period. Finally, State Street Corp increased its position in Eos Energy Enterprises by 54.4% during the 4th quarter. State Street Corp now owns 1,865,193 shares of the company’s stock valued at $14,026,000 after purchasing an additional 656,842 shares during the period. 64.36% of the stock is owned by institutional investors.
In other news, CEO Joe Mastrangelo acquired 70,000 shares of the stock in a transaction dated Thursday, May 12th. The stock was bought at an average price of $1.40 per share, with a total value of $98,000.00. Following the completion of the purchase, the chief executive officer now directly owns 338,727 shares of the company’s stock, valued at approximately $474,217.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Claude Demby acquired 13,200 shares of the stock in a transaction dated Thursday, March 3rd. The stock was purchased at an average cost of $3.79 per share, with a total value of $50,028.00. The disclosure for this purchase can be found here. Insiders bought 206,350 shares of company stock valued at $474,779 in the last three months. Company insiders own 8.00% of the company’s stock.
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.
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