Wall Street Zen Upgrades Eos Energy Enterprises (NASDAQ:EOSE) to “Hold”

Wall Street Zen upgraded shares of Eos Energy Enterprises (NASDAQ:EOSE) from a sell rating to a hold rating in a research report report published on Saturday morning.

Several other equities analysts also recently weighed in on the company. Guggenheim cut their target price on Eos Energy Enterprises from $7.00 to $6.00 and set a “buy” rating on the stock in a research report on Monday, June 2nd. TD Cowen raised Eos Energy Enterprises to a “hold” rating in a research report on Monday, June 23rd. Finally, Stifel Nicolaus cut their target price on Eos Energy Enterprises from $9.00 to $8.50 and set a “buy” rating on the stock in a research report on Monday, June 9th. Five equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $6.50.

Eos Energy Enterprises Stock Performance

NASDAQ EOSE opened at $6.18 on Friday. The company has a market cap of $1.41 billion, a P/E ratio of -1.40 and a beta of 2.01. The business’s 50 day moving average price is $4.97 and its 200-day moving average price is $4.93. Eos Energy Enterprises has a fifty-two week low of $1.39 and a fifty-two week high of $7.36.

Eos Energy Enterprises (NASDAQ:EOSE) last released its earnings results on Tuesday, May 6th. The company reported ($0.20) earnings per share for the quarter, missing the consensus estimate of ($0.19) by ($0.01). The firm had revenue of $10.46 million during the quarter, compared to analysts’ expectations of $11.77 million. As a group, equities analysts predict that Eos Energy Enterprises will post -2.54 EPS for the current year.

Insiders Place Their Bets

In related news, General Counsel Michael W. Silberman sold 100,943 shares of the business’s stock in a transaction on Friday, May 16th. The stock was sold at an average price of $6.86, for a total transaction of $692,468.98. Following the completion of the transaction, the general counsel owned 161,404 shares in the company, valued at $1,107,231.44. The trade was a 38.48% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Joe Mastrangelo sold 270,384 shares of the business’s stock in a transaction on Friday, May 16th. The shares were sold at an average price of $6.86, for a total value of $1,854,834.24. Following the transaction, the chief executive officer owned 1,109,409 shares of the company’s stock, valued at approximately $7,610,545.74. The trade was a 19.60% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 758,886 shares of company stock worth $4,827,806 in the last 90 days. 3.63% of the stock is owned by insiders.

Hedge Funds Weigh In On Eos Energy Enterprises

Large investors have recently bought and sold shares of the business. KBC Group NV purchased a new position in Eos Energy Enterprises during the 1st quarter valued at $38,000. SBI Securities Co. Ltd. raised its holdings in shares of Eos Energy Enterprises by 588.0% in the first quarter. SBI Securities Co. Ltd. now owns 10,065 shares of the company’s stock valued at $38,000 after acquiring an additional 8,602 shares in the last quarter. Elevatus Welath Management bought a new stake in shares of Eos Energy Enterprises in the first quarter valued at about $39,000. Parallel Advisors LLC purchased a new stake in Eos Energy Enterprises in the first quarter worth about $43,000. Finally, Carmel Capital Partners LLC grew its holdings in Eos Energy Enterprises by 24.5% during the 1st quarter. Carmel Capital Partners LLC now owns 12,450 shares of the company’s stock worth $47,000 after acquiring an additional 2,450 shares in the last quarter. Hedge funds and other 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.