Eos Energy Enterprises (NASDAQ:EOSE) Stock Gets Price Target Trim from B. Riley Financial

Eos Energy Enterprises (NASDAQ:EOSE) had its target price reduced by B. Riley Financial from $5.00 to $2.00 in a research report report published on Monday morning,Benzinga reports. B. Riley Financial currently has a neutral rating on the stock.

A number of other research analysts also recently issued reports on the company. TD Cowen upgraded Eos Energy Enterprises to a “hold” rating in a research note on Monday, October 5th. Wall Street Zen lowered Eos Energy Enterprises from a “sell” rating to a “strong sell” rating in a research report on Saturday, August 8th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Eos Energy Enterprises in a research note on Thursday, October 15th. Stifel Nicolaus lowered their target price on Eos Energy Enterprises from $9.00 to $4.00 and set a “buy” rating on the stock in a research note on Monday. Finally, Needham & Company LLC cut their price target on shares of Eos Energy Enterprises from $10.00 to $6.00 and set a “buy” rating on the stock in a report on Monday, October 19th. One research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and seven have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $6.69.

Eos Energy Enterprises Stock Up 14.4%

Shares of NASDAQ EOSE opened at $1.99 on Monday. Eos Energy Enterprises has a twelve month low of $1.59 and a twelve month high of $19.65. The stock’s 50 day moving average price is $2.79 and its 200-day moving average price is $5.74. The company has a market capitalization of $724.69 million, a PE ratio of -0.95 and a beta of 3.17.

Eos Energy Enterprises (NASDAQ:EOSE) last released its earnings results on Thursday, November 5th. The company reported ($0.17) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.24) by $0.07. The company had revenue of $82.73 million during the quarter, compared to analyst estimates of $81.60 million. Eos Energy Enterprises had a negative return on equity of 20.68% and a net margin of 89.23%. As a group, research analysts expect that Eos Energy Enterprises will post -1.26 EPS for the current fiscal year.

Insider Transactions at Eos Energy Enterprises

In related news, CEO Joe Mastrangelo sold 250,000 shares of the company’s stock in a transaction that occurred on Wednesday, September 16th. The stock was sold at an average price of $3.92, for a total value of $980,000.00. Following the transaction, the chief executive officer owned 2,308,704 shares in the company, valued at approximately $9,050,119.68. This represents a 9.77% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Haiyan Song acquired 10,000 shares of Eos Energy Enterprises stock in a transaction on Friday, September 11th. The shares were purchased at an average cost of $3.95 per share, with a total value of $39,500.00. Following the completion of the acquisition, the director owned 10,000 shares of the company’s stock, valued at $39,500. This trade represents a ∞ increase in their position. The SEC filing for this purchase provides additional information. Insiders have sold a total of 377,917 shares of company stock worth $1,392,610 in the last ninety days. Company insiders own 1.73% of the company’s stock.

Institutional Trading of Eos Energy Enterprises

Several hedge funds have recently made changes to their positions in EOSE. Allworth Financial LP lifted its position in shares of Eos Energy Enterprises by 198.6% during the 2nd quarter. Allworth Financial LP now owns 4,300 shares of the company’s stock valued at $25,000 after buying an additional 2,860 shares during the last quarter. PNC Financial Services Group Inc. grew its stake in shares of Eos Energy Enterprises by 279.4% during the 1st quarter. PNC Financial Services Group Inc. now owns 9,577 shares of the company’s stock worth $48,000 after acquiring an additional 7,053 shares during the period. Nykredit A S purchased a new stake in Eos Energy Enterprises in the 2nd quarter worth about $60,000. Formulate Financial LLC purchased a new stake in Eos Energy Enterprises in the 3rd quarter worth about $31,000. Finally, Sax Wealth Advisors LLC purchased a new stake in Eos Energy Enterprises in the 3rd quarter worth about $31,000. 54.87% of the stock is currently owned by institutional investors.

Eos Energy Enterprises Company Profile

Eos Energy Enterprises, Inc. develops and manufactures zinc-based battery energy storage systems. Its aqueous zinc battery technology is designed for stationary, long-duration storage, providing an alternative to lithium-ion systems for applications that require electricity to be stored and delivered over extended periods. The company’s products include the Eos Z3 battery system, which is intended for grid-scale and commercial and industrial uses, such as supporting renewable energy integration and helping manage electricity supply and demand.