Q1 2024 EPS Estimates for Eos Energy Enterprises, Inc. (NASDAQ:EOSE) Cut by B. Riley

Eos Energy Enterprises, Inc. (NASDAQ:EOSE) – Stock analysts at B. Riley decreased their Q1 2024 earnings per share (EPS) estimates for shares of Eos Energy Enterprises in a note issued to investors on Monday, April 22nd. B. Riley analyst C. Souther now anticipates that the company will post earnings per share of ($0.31) for the quarter, down from their prior estimate of ($0.19). The consensus estimate for Eos Energy Enterprises’ current full-year earnings is ($0.63) per share. B. Riley also issued estimates for Eos Energy Enterprises’ Q2 2024 earnings at ($0.29) EPS, Q3 2024 earnings at ($0.30) EPS, Q4 2024 earnings at ($0.19) EPS, FY2024 earnings at ($1.09) EPS, FY2025 earnings at ($0.58) EPS and FY2026 earnings at $0.30 EPS.

Other analysts also recently issued reports about the company. Evercore ISI reduced their target price on Eos Energy Enterprises from $12.00 to $7.00 and set an “outperform” rating for the company in a research note on Wednesday, March 6th. Guggenheim reduced their target price on Eos Energy Enterprises from $10.00 to $4.00 and set a “buy” rating for the company in a research note on Thursday, March 7th. Two equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat, Eos Energy Enterprises has a consensus rating of “Moderate Buy” and a consensus price target of $6.08.

Eos Energy Enterprises Price Performance

Shares of EOSE opened at $0.77 on Wednesday. The stock has a 50-day moving average of $0.96 and a 200-day moving average of $1.16. The company has a market cap of $155.35 million, a PE ratio of -0.36 and a beta of 2.23. Eos Energy Enterprises has a one year low of $0.70 and a one year high of $5.67.

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.

Hedge Funds Weigh In On Eos Energy Enterprises

Large investors have recently added to or reduced their stakes in the business. Exchange Traded Concepts LLC bought a new position in Eos Energy Enterprises in the 3rd quarter valued at about $35,000. Twin Focus Capital Partners LLC bought a new position in shares of Eos Energy Enterprises during the 3rd quarter worth approximately $54,000. Canal Insurance CO bought a new position in shares of Eos Energy Enterprises during the 3rd quarter worth approximately $86,000. Grimes & Company Inc. bought a new position in shares of Eos Energy Enterprises during the 4th quarter worth approximately $44,000. Finally, Powell Investment Advisors LLC lifted its position in shares of Eos Energy Enterprises by 155.6% during the 4th quarter. Powell Investment Advisors LLC now owns 46,000 shares of the company’s stock worth $50,000 after buying an additional 28,000 shares in the last quarter. Institutional investors own 54.87% of the company’s stock.

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.