Eos Energy Enterprises, Inc. (EOSE) Moves 10.8% Higher: Will This Strength Last?
Eos Energy Enterprises, Inc. (EOSE) shares soared 10.8% in the last trading session to close at $5.03. The move was backed by solid volume with far more shares changing hands than in a normal session. This compares to the stock's 118.3% gain over the past four weeks.
Shares of Eos Energy have gained since an analyst at EF Hutton raised his target price from $3.50 to $4.50. He maintained the rating at Buy. The company was also recently added to the Russell 3000 Index.
Eos Energy announced that Pennsylvania Solar Center has honored the company with the Energy Lodestar Award recognizing its effort in developing clean and renewable energy in Pennsylvania and across the nation. The award highlights EOSE’s commitment to accelerating the shift to clean energy with innovative solutions.
This company is expected to post quarterly loss of $0.36 per share in its upcoming report, which represents a year-over-year change of +64.4%. Revenues are expected to be $1.52 million, down 74.3% from the year-ago quarter.
While earnings and revenue growth expectations are important in evaluating the potential strength in a stock, empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements.
For Eos Energy Enterprises, Inc., the consensus EPS estimate for the quarter has been revised 1.4% higher over the last 30 days to the current level. And a positive trend in earnings estimate revision usually translates into price appreciation. So, make sure to keep an eye on EOSE going forward to see if this recent jump can turn into more strength down the road.
The stock currently carries a Zacks Rank #3 (Hold). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>
Eos Energy Enterprises, Inc. belongs to the Zacks Industrial Services industry. Another stock from the same industry, SiteOne Landscape (SITE), closed the last trading session 0.4% higher at $167.55. Over the past month, SITE has returned 18.9%.
SiteOne Landscape's consensus EPS estimate for the upcoming report has remained unchanged over the past month at $2.45. Compared to the company's year-ago EPS, this represents a change of -20.2%. SiteOne Landscape currently boasts a Zacks Rank of #3 (Hold).
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