EOSE - Eos Energy soars as praise for Z3 battery outweighs Q2 loss
2023-08-15 15:57:10 ET
Eos Energy Enterprise ( NASDAQ: EOSE ) reverses early losses to rally +16.4% in Tuesday's trading, as optimism over the company's new Z3 battery design apparently outweighs a larger than expected Q2 loss .
The company said it booked $86.9M in orders during H1, resulting in an order backlog of $533.6M as of June 30, 17% above the year-earlier total.
According to Bloomberg, Stifel analyst Vincent Anderson said he "comfortably" maintained his Buy rating and Street-high $13 price target on Eos Energy ( EOSE ) despite the funding-driven delay to the company's Z3 ramp-up which weighed down FY 2024 estimates.
Eos Energy's ( EOSE ) Z3 battery design has achieved "substantial" traction in the energy storage market as a compelling alternative to traditional lithium-ion batteries, according to Evercore ISI's James West, who rates the stock at Outperform with a $4 price target.
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Eos Energy soars as praise for Z3 battery outweighs Q2 loss