Q1 2024 EPS Estimates for Eos Energy Enterprises, Inc. (NASDAQ:EOSE) Lowered by Analyst

Eos Energy Enterprises, Inc. (NASDAQ:EOSE) – Analysts at B. Riley reduced their Q1 2024 earnings estimates for shares of Eos Energy Enterprises in a research report issued to clients and investors on Wednesday, April 24th. B. Riley analyst C. Souther now forecasts that the company will post earnings of ($0.33) per share for the quarter, down from their previous estimate of ($0.31). The consensus estimate for Eos Energy Enterprises’ current full-year earnings is ($0.74) per share. B. Riley also issued estimates for Eos Energy Enterprises’ Q2 2024 earnings at ($0.34) EPS, Q3 2024 earnings at ($0.35) EPS, Q4 2024 earnings at ($0.23) EPS, FY2024 earnings at ($1.23) EPS, FY2025 earnings at ($0.68) EPS and FY2026 earnings at $0.35 EPS.

Several other equities research analysts also recently commented on the stock. Guggenheim reduced their target price on shares of Eos Energy Enterprises from $10.00 to $4.00 and set a “buy” rating on the stock in a research note on Thursday, March 7th. Evercore ISI cut their price target on Eos Energy Enterprises from $12.00 to $7.00 and set an “outperform” rating for the company in a report on Wednesday, March 6th. Two research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, Eos Energy Enterprises has a consensus rating of “Moderate Buy” and a consensus price target of $6.08.

Eos Energy Enterprises Stock Performance

Shares of NASDAQ:EOSE opened at $0.75 on Friday. Eos Energy Enterprises has a 52 week low of $0.70 and a 52 week high of $5.67. The company’s fifty day moving average is $0.95 and its 200-day moving average is $1.15.

Eos Energy Enterprises (NASDAQ:EOSE) last issued its earnings results on Monday, March 4th. The company reported ($0.16) EPS for the quarter, beating the consensus estimate of ($0.22) by $0.06. The firm had revenue of $6.61 million during the quarter.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the business. B. Riley Wealth Advisors Inc. raised its holdings in Eos Energy Enterprises by 880.8% during the 3rd quarter. B. Riley Wealth Advisors Inc. now owns 275,765 shares of the company’s stock worth $593,000 after purchasing an additional 247,650 shares during the last quarter. Invesco Ltd. raised its holdings in Eos Energy Enterprises by 23.6% during the 3rd quarter. Invesco Ltd. now owns 3,128,582 shares of the company’s stock worth $6,726,000 after purchasing an additional 597,279 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. raised its holdings in Eos Energy Enterprises by 24.7% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,258,058 shares of the company’s stock worth $4,641,000 after purchasing an additional 843,918 shares during the last quarter. Kestra Advisory Services LLC raised its holdings in Eos Energy Enterprises by 1,192.6% during the 3rd quarter. Kestra Advisory Services LLC now owns 298,265 shares of the company’s stock worth $641,000 after purchasing an additional 275,190 shares during the last quarter. Finally, Stifel Financial Corp raised its holdings in Eos Energy Enterprises by 503.7% during the 3rd quarter. Stifel Financial Corp now owns 930,205 shares of the company’s stock worth $2,000,000 after purchasing an additional 776,110 shares during the last quarter. 54.87% of the stock is owned by institutional investors.

About Eos Energy Enterprises

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.