Eos Energy Enterprises (NASDAQ:EOSE) Price Target Lowered to $6.00 at Guggenheim

Eos Energy Enterprises (NASDAQ:EOSE) had its target price lowered by Guggenheim from $7.00 to $6.00 in a report published on Monday,Benzinga reports. Guggenheim currently has a buy rating on the stock.

Several other equities research analysts also recently weighed in on EOSE. Cowen restated a “hold” rating on shares of Eos Energy Enterprises in a research note on Friday, March 7th. Roth Capital lowered Eos Energy Enterprises from a “strong-buy” rating to a “hold” rating in a research note on Thursday, February 20th. Finally, Roth Mkm lowered shares of Eos Energy Enterprises from a “buy” rating to a “neutral” rating and increased their price objective for the company from $4.00 to $5.00 in a research report on Thursday, February 20th. Four equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Eos Energy Enterprises currently has an average rating of “Hold” and a consensus price target of $5.67.

Eos Energy Enterprises Price Performance

Eos Energy Enterprises stock opened at $4.15 on Monday. Eos Energy Enterprises has a 1-year low of $0.66 and a 1-year high of $7.36. The firm has a market capitalization of $944.50 million, a P/E ratio of -1.72 and a beta of 2.11. The company’s 50-day moving average is $5.06 and its 200 day moving average is $4.66.

Eos Energy Enterprises (NASDAQ:EOSE) last posted its quarterly earnings data on Tuesday, May 6th. The company reported ($0.20) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.19) by ($0.01). The company had revenue of $10.46 million for the quarter, compared to the consensus estimate of $11.77 million. Research analysts anticipate that Eos Energy Enterprises will post -2.54 earnings per share for the current fiscal year.

Insider Activity

In related news, CAO Sumeet Puri sold 36,173 shares of the firm’s stock in a transaction dated Friday, May 16th. The shares were sold at an average price of $6.86, for a total value of $248,146.78. Following the transaction, the chief accounting officer now directly owns 95,624 shares of the company’s stock, valued at approximately $655,980.64. This trade represents a 27.45% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, General Counsel Michael W. Silberman sold 100,943 shares of the firm’s stock in a transaction that occurred 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 now directly owns 161,404 shares in the company, valued at $1,107,231.44. This trade represents a 38.48% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 560,356 shares of company stock worth $3,844,042 in the last ninety days. Company insiders own 3.63% of the company’s stock.

Institutional Trading of Eos Energy Enterprises

Institutional investors have recently added to or reduced their stakes in the stock. Arizona State Retirement System acquired a new stake in Eos Energy Enterprises in the 4th quarter valued at approximately $305,000. FourThought Financial Partners LLC acquired a new position in shares of Eos Energy Enterprises in the fourth quarter worth $1,335,000. Raymond James Financial Inc. acquired a new position in shares of Eos Energy Enterprises in the fourth quarter worth $315,000. Swiss National Bank purchased a new stake in Eos Energy Enterprises in the fourth quarter valued at $2,071,000. Finally, Barings LLC lifted its position in Eos Energy Enterprises by 100.5% in the fourth quarter. Barings LLC now owns 2,403,448 shares of the company’s stock valued at $11,681,000 after acquiring an additional 1,204,430 shares during the last quarter. Institutional investors and hedge funds 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.