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

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

A number of other equities analysts have also recently issued reports on the stock. Roth Mkm cut shares of Eos Energy Enterprises from a “buy” rating to a “neutral” rating and raised their target price for the stock from $4.00 to $5.00 in a report on Thursday, February 20th. Roth Capital cut shares of Eos Energy Enterprises from a “strong-buy” rating to a “hold” rating in a report on Thursday, February 20th. Guggenheim cut their target price on shares of Eos Energy Enterprises from $7.00 to $6.00 and set a “buy” rating on the stock in a report on Monday, June 2nd. Finally, Cowen reissued a “hold” rating on shares of Eos Energy Enterprises in a report on Friday, March 7th. Four 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, the company currently has an average rating of “Hold” and an average target price of $6.50.

Eos Energy Enterprises Stock Performance

Shares of EOSE stock opened at $4.01 on Monday. Eos Energy Enterprises has a one year low of $0.74 and a one year high of $7.36. The company’s 50-day simple moving average is $5.06 and its 200-day simple moving average is $4.71. The stock has a market capitalization of $912.64 million, a price-to-earnings ratio of -1.66 and a beta of 1.97.

Eos Energy Enterprises (NASDAQ:EOSE) last issued its quarterly earnings results on Tuesday, May 6th. The company reported ($0.20) EPS for the quarter, missing the consensus estimate of ($0.19) by ($0.01). The firm had revenue of $10.46 million for the quarter, compared to analyst estimates of $11.77 million. As a group, research analysts forecast that Eos Energy Enterprises will post -2.54 EPS for the current year.

Insider Buying and Selling at Eos Energy Enterprises

In other Eos Energy Enterprises news, insider Nathan Kroeker sold 152,856 shares of the firm’s stock in a transaction that occurred on Friday, May 16th. The shares were sold at an average price of $6.86, for a total value of $1,048,592.16. Following the sale, the insider now owns 403,815 shares in the company, valued at approximately $2,770,170.90. This trade represents a 27.46% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Joe Mastrangelo sold 270,384 shares of the firm’s stock in a transaction that occurred on 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 sale, the chief executive officer now owns 1,109,409 shares in the company, valued at $7,610,545.74. The trade was a 19.60% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 560,356 shares of company stock worth $3,844,042. 3.63% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. Parkside Financial Bank & Trust acquired a new position in shares of Eos Energy Enterprises during the fourth quarter valued at approximately $29,000. Carmel Capital Partners LLC acquired a new position in shares of Eos Energy Enterprises during the fourth quarter valued at approximately $49,000. KBC Group NV acquired a new position in shares of Eos Energy Enterprises during the first quarter valued at approximately $38,000. SBI Securities Co. Ltd. increased its stake in shares of 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 acquiring an additional 8,602 shares during the period. Finally, Elevatus Welath Management acquired a new position in shares of Eos Energy Enterprises during the first quarter valued at approximately $39,000. Institutional investors and hedge funds own 54.87% of the company’s stock.

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.