Eos Energy Enterprises (NASDAQ:EOSE) Stock Rating Lowered by Wall Street Zen

Eos Energy Enterprises (NASDAQ:EOSE) was downgraded by analysts at Wall Street Zen from a “hold” rating to a “sell” rating in a research note issued to investors on Sunday.

A number of other brokerages have also recently commented on EOSE. Stifel Nicolaus reduced their target price on shares of Eos Energy Enterprises from $9.00 to $8.50 and set a “buy” rating for the company in a report on Monday, June 9th. TD Cowen upped their target price on shares of Eos Energy Enterprises from $5.50 to $6.00 and gave the company a “hold” rating in a report on Friday. Finally, Guggenheim reduced their target price on shares of Eos Energy Enterprises from $7.00 to $6.00 and set a “buy” rating for the company in a report on Monday, June 2nd. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $6.38.

Eos Energy Enterprises Price Performance

Shares of EOSE opened at $5.51 on Friday. Eos Energy Enterprises has a 1-year low of $1.39 and a 1-year high of $7.36. The stock has a market cap of $1.25 billion, a PE ratio of -1.06 and a beta of 2.07. The firm has a fifty day moving average price of $4.94 and a 200 day moving average price of $4.96.

Eos Energy Enterprises (NASDAQ:EOSE) last announced its earnings results on Wednesday, July 30th. The company reported ($1.05) EPS for the quarter, missing analysts’ consensus estimates of ($0.17) by ($0.88). The firm had revenue of $15.24 million for the quarter, compared to analyst estimates of $24.96 million. As a group, equities analysts expect that Eos Energy Enterprises will post -2.54 EPS for the current fiscal year.

Insider Activity

In related news, CEO Joe Mastrangelo sold 270,384 shares of the stock in a transaction dated Friday, May 16th. The shares were sold at an average price of $6.86, for a total transaction of $1,854,834.24. Following the completion of the transaction, the chief executive officer directly owned 1,109,409 shares of the company’s stock, valued at $7,610,545.74. This represents a 19.60% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CAO Sumeet Puri sold 36,173 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 transaction of $248,146.78. Following the transaction, the chief accounting officer directly owned 95,624 shares of the company’s stock, valued at $655,980.64. This represents a 27.45% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 1,108,053 shares of company stock valued at $6,901,858. Company insiders own 3.63% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in EOSE. KBC Group NV acquired a new stake in shares of Eos Energy Enterprises in the first quarter valued at approximately $38,000. SBI Securities Co. Ltd. grew its position 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 purchasing an additional 8,602 shares during the last quarter. Elevatus Welath Management acquired a new stake in shares of Eos Energy Enterprises in the first quarter valued at approximately $39,000. Parallel Advisors LLC acquired a new stake in shares of Eos Energy Enterprises in the first quarter valued at approximately $43,000. Finally, Carmel Capital Partners LLC grew its position in shares of Eos Energy Enterprises by 24.5% in the first quarter. Carmel Capital Partners LLC now owns 12,450 shares of the company’s stock valued at $47,000 after purchasing an additional 2,450 shares during the last quarter. 54.87% of the stock is currently owned by institutional investors and hedge funds.

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.