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

Key Points

• B. Riley cut its Eos Energy Enterprises price target to $2 from $5 and maintained a neutral rating, implying 14.61% upside from the previous close.
• Analyst views remain mixed: the consensus rating is Hold, with a $6.69 average price target; other firms also lowered targets, though several retained Buy ratings.
• Eos reported a quarterly loss of $0.17 per share, better than the $0.24 loss analysts expected, while revenue of $82.73 million also topped estimates.

Eos Energy Enterprises (NASDAQ:EOSE - Get Free Report) had its target price dropped by investment analysts at B. Riley Financial from $5.00 to $2.00 in a report released on Monday, Benzinga reports. The firm currently has a "neutral" rating on the stock. B. Riley Financial's price target would suggest a potential upside of 14.61% from the company's previous close.

A number of other equities analysts also recently weighed in on EOSE. Stifel Nicolaus dropped their price target on shares of Eos Energy Enterprises from $9.00 to $4.00 and set a "buy" rating on the stock in a research note on Monday. Truist Financial assumed coverage on Eos Energy Enterprises in a research report on Monday, July 13th. They issued a "buy" rating and a $7.00 price target on the stock. Needham & Company LLC cut their target price on Eos Energy Enterprises from $10.00 to $6.00 and set a "buy" rating for the company in a research note on Monday, October 19th. Roth Capital lifted their price objective on Eos Energy Enterprises from $4.00 to $4.50 and gave the company a "neutral" rating in a report on Thursday, September 10th. Finally, Weiss Ratings reiterated a "sell (d-)" rating on shares of Eos Energy Enterprises in a research report on Thursday, October 15th. One investment analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, Eos Energy Enterprises presently has a consensus rating of "Hold" and a consensus price target of $6.69.

Eos Energy Enterprises Trading Up 0.3%

Shares of NASDAQ:EOSE opened at $1.75 on Monday. The firm has a market cap of $635.47 million, a P/E ratio of -0.83 and a beta of 3.17. The company has a 50 day moving average of $2.86 and a 200-day moving average of $5.98. Eos Energy Enterprises has a twelve month low of $1.59 and a twelve month high of $19.86.

Eos Energy Enterprises (NASDAQ:EOSE - Get Free Report) last released its earnings results on Thursday, November 5th. The company reported ($0.17) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.24) by $0.07. The firm had revenue of $82.73 million for the quarter, compared to analyst estimates of $81.60 million. Eos Energy Enterprises had a negative return on equity of 17.24% and a net margin of 89.23%. Equities research analysts forecast that Eos Energy Enterprises will post -1.28 EPS for the current year.

Insider Activity at Eos Energy Enterprises

In related news, insider Michelle Buczkowski sold 50,000 shares of the company's stock in a transaction on Thursday, October 29th. The shares were sold at an average price of $2.00, for a total value of $100,000.00. Following the completion of the transaction, the insider directly owned 111,827 shares of the company's stock, valued at approximately $223,654. This represents a 30.90% decrease in their position. The sale 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, CEO Joe Mastrangelo sold 250,000 shares of the company's stock in a transaction dated 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 directly owned 2,308,704 shares of the company's stock, valued at $9,050,119.68. This represents a 9.77% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 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. Insiders sold a total of 377,917 shares of company stock valued at $1,392,610 in the last quarter. 1.73% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Eos Energy Enterprises

Institutional investors and hedge funds have recently made changes to their positions in the stock. Renaissance Technologies LLC bought a new stake in shares of Eos Energy Enterprises in the 1st quarter valued at about $9,152,000. First Trust Advisors LP increased its position in Eos Energy Enterprises by 3.7% during the 1st quarter. First Trust Advisors LP now owns 1,537,606 shares of the company's stock worth $7,627,000 after buying an additional 55,145 shares during the period. Bank of America Corp DE raised its stake in Eos Energy Enterprises by 89.1% in the 1st quarter. Bank of America Corp DE now owns 1,247,548 shares of the company's stock worth $6,188,000 after purchasing an additional 587,752 shares in the last quarter. Wellington Management Group LLP raised its position in shares of Eos Energy Enterprises by 475.8% in the second quarter. Wellington Management Group LLP now owns 1,155,515 shares of the company's stock valued at $6,794,000 after buying an additional 954,828 shares in the last quarter. Finally, Quantinno Capital Management LP grew its holdings in shares of Eos Energy Enterprises by 8,418.9% during the 1st quarter. Quantinno Capital Management LP now owns 1,078,070 shares of the company's stock worth $5,347,000 after purchasing an additional 1,065,415 shares in the last quarter. Institutional investors own 54.87% of the company's stock.

Eos Energy Enterprises Company Profile

Eos Energy Enterprises, Inc develops and manufactures long-duration energy storage systems designed to help utilities, renewable energy developers, and commercial and industrial customers store electricity for use when demand is high or renewable generation is unavailable. The company's technology is based on aqueous zinc battery chemistry, which it markets as a non-lithium alternative for stationary energy storage applications.

Eos' product portfolio includes the Eos Z3 battery system and related generations of its zinc-based storage technology.

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