B. Riley Financial Cuts Eos Energy Enterprises (NASDAQ:EOSE) Price Target to $5.00

Key Points

• B. Riley Financial cut Eos Energy Enterprises’ price target from $8 to $5 while maintaining a “neutral” rating, implying approximately 20% upside from the prior close.
• Analyst sentiment remains mixed, with the stock carrying a consensus “Hold” rating and an average price target of $8.06. Targets range from $4 at Roth Capital to $11 at Needham.
• Eos reported a quarterly loss of $1.20 per share, missing estimates by $1.01, although revenue of $68.78 million slightly exceeded expectations. The stock recently traded at $4.16, well below its 52-week high of $19.86.

Eos Energy Enterprises (NASDAQ:EOSE - Get Free Report) had its target price decreased by B. Riley Financial from $8.00 to $5.00 in a research report issued to clients and investors on Friday,Benzinga reports. The firm presently has a "neutral" rating on the stock. B. Riley Financial's price objective indicates a potential upside of 20.34% from the company's previous close.

A number of other research analysts also recently issued reports on the stock. Needham & Company LLC started coverage on shares of Eos Energy Enterprises in a research report on Friday, May 22nd. They issued a "buy" rating and a $11.00 price target on the stock. Weiss Ratings reissued a "sell (d-)" rating on shares of Eos Energy Enterprises in a research note on Friday, July 17th. Zacks Research upgraded Eos Energy Enterprises from a "strong sell" rating to a "hold" rating in a research report on Tuesday, April 28th. Roth Capital set a $4.00 target price on Eos Energy Enterprises in a research note on Thursday, August 6th. Finally, Truist Financial assumed coverage on Eos Energy Enterprises in a research note on Monday, July 13th. They issued a "buy" rating and a $7.00 price target on the stock. One investment analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, seven have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus target price of $8.06.

Eos Energy Enterprises Price Performance

NASDAQ EOSE traded down $0.01 during trading hours on Friday, reaching $4.16. The company's stock had a trading volume of 2,256,850 shares, compared to its average volume of 25,505,193. The firm has a fifty day simple moving average of $5.04 and a 200-day simple moving average of $7.05. The stock has a market cap of $1.41 billion, a P/E ratio of -0.61 and a beta of 2.75. Eos Energy Enterprises has a 52 week low of $3.11 and a 52 week high of $19.86.

Eos Energy Enterprises (NASDAQ:EOSE - Get Free Report) last posted its earnings results on Wednesday, August 5th. The company reported ($1.20) earnings per share for the quarter, missing analysts' consensus estimates of ($0.19) by ($1.01). The business had revenue of $68.78 million for the quarter, compared to analysts' expectations of $68.32 million. During the same quarter last year, the firm earned ($1.05) earnings per share. On average, research analysts expect that Eos Energy Enterprises will post -0.56 earnings per share for the current year.

Insider Buying and Selling

In other Eos Energy Enterprises news, CEO Joe Mastrangelo sold 159,154 shares of the firm's stock in a transaction that occurred on Monday, July 27th. The stock was sold at an average price of $3.61, for a total value of $574,545.94. Following the completion of the sale, the chief executive officer owned 1,947,586 shares of the company's stock, valued at approximately $7,030,785.46. This trade represents a 7.55% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CAO Sumeet Puri sold 29,167 shares of the business's stock in a transaction that occurred on Tuesday, July 28th. The shares were sold at an average price of $3.36, for a total value of $98,001.12. Following the sale, the chief accounting officer owned 202,279 shares of the company's stock, valued at approximately $679,657.44. This represents a 12.60% 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. Insiders sold a total of 456,307 shares of company stock worth $1,882,877 over the last 90 days. 1.73% of the stock is owned by company insiders.

Institutional Trading of Eos Energy Enterprises

Hedge funds and other institutional investors have recently bought and sold shares of the business. PNC Financial Services Group Inc. grew its holdings in shares of Eos Energy Enterprises by 3,843.8% during the fourth quarter. PNC Financial Services Group Inc. now owns 2,524 shares of the company's stock valued at $29,000 after buying an additional 2,460 shares during the last quarter. Towarzystwo Funduszy Inwestycyjnych PZU SA raised its holdings in shares of Eos Energy Enterprises by 58.8% in the 4th quarter. Towarzystwo Funduszy Inwestycyjnych PZU SA now owns 2,700 shares of the company's stock worth $31,000 after acquiring an additional 1,000 shares during the last quarter. Danske Bank A S bought a new position in Eos Energy Enterprises in the 4th quarter valued at about $33,000. TD Waterhouse Canada Inc. lifted its position in Eos Energy Enterprises by 178.7% in the 4th quarter. TD Waterhouse Canada Inc. now owns 3,119 shares of the company's stock valued at $36,000 after acquiring an additional 2,000 shares in the last quarter. Finally, KFA Private Wealth Group LLC acquired a new position in Eos Energy Enterprises during the 1st quarter valued at about $50,000. Institutional investors own 54.87% of the company's stock.

About Eos Energy Enterprises

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.

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