Eos Energy Enterprises (NASDAQ:EOSE) Price Target Lowered to $8.50 at Stifel Nicolaus

Eos Energy Enterprises (NASDAQ:EOSE) had its target price reduced by Stifel Nicolaus from $9.00 to $8.50 in a report published on Monday morning,Benzinga reports. They currently have a buy rating on the stock.

Several other research firms also recently weighed in on EOSE. Roth Mkm downgraded Eos Energy Enterprises from a “buy” rating to a “neutral” rating and raised their price objective for the company from $4.00 to $5.00 in a research note on Thursday, February 20th. Cowen reissued a “hold” rating on shares of Eos Energy Enterprises in a report on Friday, March 7th. Guggenheim dropped their price target on Eos Energy Enterprises from $7.00 to $6.00 and set a “buy” rating for the company in a research report on Monday, June 2nd. Finally, Roth Capital lowered shares of Eos Energy Enterprises from a “strong-buy” rating to a “hold” rating in a research report on Thursday, February 20th. Four investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $6.50.

Eos Energy Enterprises Stock Performance

Eos Energy Enterprises stock opened at $4.18 on Monday. The company has a market cap of $951.33 million, a P/E ratio of -1.73 and a beta of 1.97. Eos Energy Enterprises has a one year low of $0.69 and a one year high of $7.36. The business has a fifty day moving average of $5.06 and a two-hundred day moving average of $4.72.

Eos Energy Enterprises (NASDAQ:EOSE) last announced its quarterly earnings data on Tuesday, May 6th. The company reported ($0.20) EPS for the quarter, missing the consensus estimate of ($0.19) by ($0.01). The company had revenue of $10.46 million for the quarter, compared to analysts’ expectations of $11.77 million. Sell-side analysts predict that Eos Energy Enterprises will post -2.54 EPS for the current year.

Insiders Place Their Bets

In other news, CAO Sumeet Puri sold 36,173 shares of Eos Energy Enterprises stock in a transaction on Friday, May 16th. The stock was sold at an average price of $6.86, for a total value of $248,146.78. Following the completion of the sale, the chief accounting officer now owns 95,624 shares of the company’s stock, valued at $655,980.64. The trade was a 27.45% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Joe Mastrangelo sold 270,384 shares of the stock in a transaction dated Friday, May 16th. The stock was sold at an average price of $6.86, for a total value of $1,854,834.24. Following the transaction, the chief executive officer now owns 1,109,409 shares in the company, valued at $7,610,545.74. This trade represents a 19.60% 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 valued at $3,844,042 in the last ninety days. Insiders own 3.63% of the company’s stock.

Institutional Investors Weigh In On Eos Energy Enterprises

Several hedge funds have recently modified their holdings of EOSE. Stephens Inc. AR purchased a new position in Eos Energy Enterprises during the fourth quarter worth approximately $64,000. Vontobel Holding Ltd. acquired a new stake in shares of Eos Energy Enterprises during the 4th quarter worth $146,000. Montag A & Associates Inc. increased its stake in Eos Energy Enterprises by 21.0% during the fourth quarter. Montag A & Associates Inc. now owns 13,809 shares of the company’s stock worth $67,000 after acquiring an additional 2,400 shares during the last quarter. WESPAC Advisors LLC raised its holdings in shares of Eos Energy Enterprises by 16.6% in the 4th quarter. WESPAC Advisors LLC now owns 12,647 shares of the company’s stock worth $61,000 after purchasing an additional 1,798 shares during the period. Finally, Bank of New York Mellon Corp raised its holdings in shares of Eos Energy Enterprises by 154.9% in the 4th quarter. Bank of New York Mellon Corp now owns 48,374 shares of the company’s stock worth $235,000 after purchasing an additional 29,393 shares during the period. 54.87% of the stock is owned by institutional investors and hedge funds.

Eos Energy Enterprises Company Profile

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.