B. Riley Forecasts Strong Price Appreciation for Eos Energy Enterprises (NASDAQ:EOSE) Stock

Key Points

• B. Riley raised its price target on Eos Energy to $12 (from $8) but kept a "neutral" rating — that $12 target implies a 36.86% downside from the current share price, and the consensus analyst target sits near $11.93 with an overall "Hold" rating (2 Buy, 6 Hold, 2 Sell).
• Shares trade around $19 (near a 52‑week high of $19.86) with a market cap of about $4.94 billion and a negative PE; insiders have recently sold stock (reducing ownership) while institutional investors own roughly 54.9% of the company.

Eos Energy Enterprises (NASDAQ:EOSE - Get Free Report) had its price objective hoisted by equities research analysts at B. Riley from $8.00 to $12.00 in a research note issued on Tuesday,Benzinga reports. The brokerage presently has a "neutral" rating on the stock. B. Riley's target price points to a potential downside of 36.86% from the stock's current price.

Several other brokerages also recently commented on EOSE. Stifel Nicolaus raised their target price on Eos Energy Enterprises from $10.00 to $22.00 and gave the stock a "buy" rating in a research note on Wednesday, October 15th. Guggenheim raised their price objective on shares of Eos Energy Enterprises from $10.00 to $20.00 and gave the company a "buy" rating in a research report on Wednesday, October 22nd. Roth Capital set a $12.00 price objective on shares of Eos Energy Enterprises and gave the company a "neutral" rating in a research note on Wednesday, October 22nd. Jefferies Financial Group assumed coverage on shares of Eos Energy Enterprises in a research note on Friday, September 5th. They issued a "hold" rating and a $6.50 target price on the stock. Finally, Weiss Ratings reissued a "sell (d-)" rating on shares of Eos Energy Enterprises in a report on Wednesday, October 8th. Two investment analysts have rated the stock with a Buy rating, six have assigned a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat.com, Eos Energy Enterprises currently has an average rating of "Hold" and an average target price of $11.93.

Eos Energy Enterprises Stock Performance

EOSE stock traded down $0.19 during midday trading on Tuesday, reaching $19.00. 15,832,642 shares of the company's stock traded hands, compared to its average volume of 13,437,699. Eos Energy Enterprises has a 52 week low of $2.06 and a 52 week high of $19.86. The company has a 50-day moving average price of $12.48 and a two-hundred day moving average price of $7.97. The firm has a market capitalization of $4.94 billion, a PE ratio of -2.27 and a beta of 2.32.

Insiders Place Their Bets

In other news, Director Marian Walters sold 50,000 shares of the stock in a transaction that occurred on Wednesday, September 3rd. The shares were sold at an average price of $7.90, for a total transaction of $395,000.00. Following the sale, the director owned 133,794 shares in the company, valued at $1,056,972.60. This represents a 27.20% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CAO Sumeet Puri sold 40,501 shares of the company's stock in a transaction that occurred on Monday, September 8th. The shares were sold at an average price of $7.11, for a total value of $287,962.11. Following the completion of the transaction, the chief accounting officer directly owned 164,290 shares in the company, valued at $1,168,101.90. This trade represents a 19.78% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Corporate insiders own 3.30% of the company's stock.

Institutional Investors Weigh In On Eos Energy Enterprises

Large investors have recently bought and sold shares of the business. Chung Wu Investment Group LLC bought a new position in Eos Energy Enterprises during the 3rd quarter valued at about $30,000. SBI Securities Co. Ltd. raised its holdings 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 purchasing an additional 8,602 shares during the last quarter. Farther Finance Advisors LLC raised its holdings in shares of Eos Energy Enterprises by 33.0% during the third quarter. Farther Finance Advisors LLC now owns 3,325 shares of the company's stock valued at $38,000 after purchasing an additional 825 shares during the last quarter. Elevatus Welath Management bought a new position in Eos Energy Enterprises during the first quarter valued at approximately $39,000. Finally, Amalgamated Bank purchased a new stake in Eos Energy Enterprises in the second quarter worth approximately $39,000. 54.87% of the stock is currently owned by institutional investors.

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.

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