B. Riley Financial Has Lowered Expectations for Eos Energy Enterprises (NASDAQ:EOSE) Stock Price

Eos Energy Enterprises (NASDAQ:EOSE) had its target price cut by equities research analysts at B. Riley Financial from $8.00 to $5.00 in a research note issued on Friday,Benzinga reports. The brokerage currently has a “neutral” rating on the stock. B. Riley Financial’s price objective would indicate a potential upside of 20.34% from the company’s current price.

Several other equities analysts have also recently commented on EOSE. Wall Street Zen cut shares of Eos Energy Enterprises from a “sell” rating to a “strong sell” rating in a research report on Saturday, August 8th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Eos Energy Enterprises in a report on Friday, July 17th. TD Cowen decreased their price target on Eos Energy Enterprises from $8.00 to $4.00 and set a “hold” rating for the company in a research report on Thursday, August 6th. Stifel Nicolaus cut their price objective on Eos Energy Enterprises from $10.00 to $9.00 and set a “buy” rating on the stock in a research report on Thursday, August 6th. Finally, Truist Financial began coverage on Eos Energy Enterprises in a research note on Monday, July 13th. They issued a “buy” rating and a $7.00 price objective for the company. One analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, seven have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $8.06.

Eos Energy Enterprises Stock Performance

EOSE traded down $0.01 during mid-day trading on Friday, reaching $4.16. 2,256,850 shares of the stock were exchanged, compared to its average volume of 25,505,193. Eos Energy Enterprises has a 1 year low of $3.11 and a 1 year high of $19.86. The stock has a market capitalization of $1.41 billion, a PE ratio of -0.61 and a beta of 2.75. The company has a 50 day moving average price of $5.04 and a two-hundred day moving average price of $7.05.

Eos Energy Enterprises (NASDAQ:EOSE) last announced its earnings results on Wednesday, August 5th. The company reported ($1.20) EPS for the quarter, missing the consensus estimate of ($0.19) by ($1.01). The firm had revenue of $68.78 million for the quarter, compared to the consensus estimate of $68.32 million. During the same period in the prior year, the company posted ($1.05) EPS. Sell-side analysts expect that Eos Energy Enterprises will post -0.56 EPS for the current fiscal year.

Insider Transactions at Eos Energy Enterprises

In other news, insider Michelle Buczkowski sold 11,469 shares of the firm’s stock in a transaction that occurred on Tuesday, June 30th. The shares were sold at an average price of $5.87, for a total transaction of $67,323.03. Following the completion of the sale, the insider owned 59,242 shares in the company, valued at $347,750.54. This trade represents a 16.22% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 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, insider Nathan Kroeker sold 110,417 shares of Eos Energy Enterprises stock in a transaction that occurred on Tuesday, July 28th. The stock was sold at an average price of $3.36, for a total transaction of $371,001.12. Following the completion of the sale, the insider directly owned 887,527 shares in the company, valued at $2,982,090.72. This trade represents a 11.06% decrease in their position. The SEC filing for this sale provides additional information. 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. Over the last quarter, insiders sold 456,307 shares of company stock valued at $1,882,877. Corporate insiders own 1.73% of the company’s stock.

Hedge Funds Weigh In On Eos Energy Enterprises

Several institutional investors and hedge funds have recently bought and sold shares of the company. Rubric Capital Management LP purchased a new stake in Eos Energy Enterprises in the third quarter worth $117,317,000. Vanguard Group Inc. grew its stake in shares of Eos Energy Enterprises by 19.8% during the 4th quarter. Vanguard Group Inc. now owns 18,616,874 shares of the company’s stock worth $213,349,000 after acquiring an additional 3,080,012 shares during the period. Engineers Gate Manager LP purchased a new stake in Eos Energy Enterprises in the 2nd quarter worth about $11,840,000. Renaissance Technologies LLC purchased a new stake in Eos Energy Enterprises in the 1st quarter worth about $9,152,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new stake in Eos Energy Enterprises in the 3rd quarter valued at about $18,142,000. 54.87% of the stock is owned by institutional investors.

Eos Energy Enterprises Company Profile

Eos Energy Enterprises specializes in the development and deployment of scalable, long-duration energy storage systems designed to support the integration of renewable power and enhance grid reliability. The company’s core technology centers on its proprietary zinc hybrid cathode (Znyth™) battery platform, which aims to deliver safe, low-cost, and durable performance for utility, commercial and industrial, and microgrid applications.

The company’s flagship product, the Aurora™ energy storage system, combines its Znyth™ cells with modular power conversion and controls to offer flexible capacity ranging from one to three hours of discharge duration.