Eos Energy Enterprises (NASDAQ:EOSE) Price Target Raised to $6.00

Eos Energy Enterprises (NASDAQ:EOSE) had its price target hoisted by TD Cowen from $5.50 to $6.00 in a report published on Friday, MarketBeat.com reports. They currently have a hold rating on the stock.

EOSE has been the topic of several other research reports. 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. Wall Street Zen upgraded Eos Energy Enterprises from a “sell” rating to a “hold” rating in a research report on Saturday, July 26th. Finally, 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. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat.com, Eos Energy Enterprises presently has a consensus rating of “Hold” and an average target price of $6.38.

Eos Energy Enterprises Stock Down 3.3%

Shares of EOSE stock opened at $5.51 on Friday. The firm has a market capitalization of $1.25 billion, a P/E ratio of -1.06 and a beta of 2.07. Eos Energy Enterprises has a twelve month low of $1.39 and a twelve month high of $7.36. The stock’s fifty day simple moving average is $4.94 and its 200 day simple moving average is $4.95.

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

Insiders Place Their Bets

In related news, CEO Joe Mastrangelo sold 166,667 shares of the company’s stock in a transaction that occurred on Tuesday, July 29th. The stock was sold at an average price of $5.94, for a total transaction of $990,001.98. Following the transaction, the chief executive officer directly owned 1,403,226 shares of the company’s stock, valued at approximately $8,335,162.44. This represents a 10.62% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Sumeet Puri sold 17,500 shares of the company’s stock in a transaction that occurred on Tuesday, July 29th. The stock was sold at an average price of $5.94, for a total value of $103,950.00. Following the transaction, the chief accounting officer directly owned 136,457 shares in the company, valued at approximately $810,554.58. This trade represents a 11.37% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 1,108,053 shares of company stock worth $6,901,858 in the last quarter. 3.63% of the stock is currently owned by company insiders.

Institutional Trading of Eos Energy Enterprises

A number of institutional investors and hedge funds have recently modified their holdings of EOSE. KBC Group NV purchased a new stake in shares of Eos Energy Enterprises during the first quarter valued at approximately $38,000. SBI Securities Co. Ltd. grew its holdings in Eos Energy Enterprises by 588.0% during 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 period. Elevatus Welath Management bought a new position in Eos Energy Enterprises during the first quarter valued at $39,000. Parallel Advisors LLC bought a new position in Eos Energy Enterprises during the first quarter valued at $43,000. Finally, Carmel Capital Partners LLC grew its holdings in Eos Energy Enterprises by 24.5% during 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 period. 54.87% of the stock is owned by hedge funds and other institutional investors.

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.