Eos Energy Enterprises (NASDAQ:EOSE – Free Report) had its price target lowered by Stifel Nicolaus from $9.00 to $4.00 in a research report sent to investors on Monday, MarketBeat.com reports. The firm currently has a buy rating on the stock.
A number of other brokerages have also weighed in on EOSE. Wall Street Zen lowered Eos Energy Enterprises from a “sell” rating to a “strong sell” rating in a research report on Saturday, August 8th. TD Cowen upgraded Eos Energy Enterprises to a “hold” rating in a report on Monday, October 5th. Roth Capital upped their target price on Eos Energy Enterprises from $4.00 to $4.50 and gave the company a “neutral” rating in a report on Thursday, September 10th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Eos Energy Enterprises in a research note on Thursday, October 15th. Finally, B. Riley Financial dropped their price target on Eos Energy Enterprises from $8.00 to $5.00 and set a “neutral” rating for the company in a research note on Friday, August 14th. One equities research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and seven have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $6.69.
View Our Latest Analysis on EOSE
Eos Energy Enterprises Price Performance
Shares of NASDAQ:EOSE opened at $1.99 on Monday. Eos Energy Enterprises has a 1 year low of $1.59 and a 1 year high of $19.65. The company has a market cap of $724.69 million, a PE ratio of -0.95 and a beta of 3.17. The stock’s 50-day moving average is $2.79 and its 200 day moving average is $5.74.
Eos Energy Enterprises (NASDAQ:EOSE – Get Free Report) last released its quarterly earnings results on Thursday, November 5th. The company reported ($0.17) EPS for the quarter, beating analysts’ consensus estimates of ($0.24) by $0.07. Eos Energy Enterprises had a negative return on equity of 20.68% and a net margin of 89.23%. The business had revenue of $82.73 million during the quarter, compared to analyst estimates of $81.60 million. Analysts expect that Eos Energy Enterprises will post -1.26 EPS for the current fiscal year.
Insider Activity at Eos Energy Enterprises
In related news, CEO Joe Mastrangelo sold 250,000 shares of the stock in a transaction dated Wednesday, September 16th. The shares were sold at an average price of $3.92, for a total value of $980,000.00. Following the completion of the transaction, the chief executive officer directly owned 2,308,704 shares of the company’s stock, valued at $9,050,119.68. This represents a 9.77% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Michelle Buczkowski sold 50,000 shares of the stock in a transaction dated Thursday, October 29th. The stock was sold at an average price of $2.00, for a total transaction of $100,000.00. Following the completion of the transaction, the insider directly owned 111,827 shares of the company’s stock, valued at approximately $223,654. The trade was a 30.90% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold 377,917 shares of company stock worth $1,392,610 over the last ninety days. Corporate insiders own 1.73% of the company’s stock.
Institutional Inflows and Outflows
A number of hedge funds and other institutional investors have recently made changes to their positions in EOSE. Renaissance Technologies LLC purchased a new position in shares of Eos Energy Enterprises during the 1st quarter worth approximately $9,152,000. First Trust Advisors LP raised its position in shares of Eos Energy Enterprises by 3.7% in the 1st quarter. First Trust Advisors LP now owns 1,537,606 shares of the company’s stock worth $7,627,000 after acquiring an additional 55,145 shares in the last quarter. Wellington Management Group LLP lifted its stake in shares of Eos Energy Enterprises by 475.8% in the 2nd quarter. Wellington Management Group LLP now owns 1,155,515 shares of the company’s stock valued at $6,794,000 after purchasing an additional 954,828 shares during the period. Bank of America Corp DE lifted its stake in shares of Eos Energy Enterprises by 89.1% in the 1st quarter. Bank of America Corp DE now owns 1,247,548 shares of the company’s stock valued at $6,188,000 after purchasing an additional 587,752 shares during the period. Finally, Bank of New York Mellon Corp purchased a new position in shares of Eos Energy Enterprises in the 2nd quarter valued at approximately $5,530,000. Hedge funds and other institutional investors own 54.87% of the company’s stock.
About Eos Energy Enterprises
Eos Energy Enterprises, Inc. develops and manufactures zinc-based battery energy storage systems. Its aqueous zinc battery technology is designed for stationary, long-duration storage, providing an alternative to lithium-ion systems for applications that require electricity to be stored and delivered over extended periods. The company’s products include the Eos Z3 battery system, which is intended for grid-scale and commercial and industrial uses, such as supporting renewable energy integration and helping manage electricity supply and demand.
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