Eos Energy Enterprises, Inc. (NASDAQ:EOSE) Receives $6.00 Consensus Price Target from Analysts

Shares of Eos Energy Enterprises, Inc. (NASDAQ:EOSE - Get Free Report) have earned a consensus recommendation of "Hold" from the six analysts that are presently covering the firm, Marketbeat Ratings reports. Four research analysts have rated the stock with a hold recommendation and two have given a buy recommendation to the company. The average 1 year price objective among brokers that have covered the stock in the last year is $5.67.

Several brokerages have recently issued reports on EOSE. Roth Capital lowered Eos Energy Enterprises from a "strong-buy" rating to a "hold" rating in a report on Thursday, February 20th. Roth Mkm lowered Eos Energy Enterprises from a "buy" rating to a "neutral" rating and lifted their price target for the company from $4.00 to $5.00 in a report on Thursday, February 20th. Cowen reiterated a "hold" rating on shares of Eos Energy Enterprises in a report on Friday, March 7th. Finally, Guggenheim reduced their price target on Eos Energy Enterprises from $7.00 to $6.00 and set a "buy" rating for the company in a report on Monday.

Insider Activity at Eos Energy Enterprises

In other news, CAO Sumeet Puri sold 36,173 shares of the company's stock in a transaction that occurred on Friday, May 16th. The stock was sold at an average price of $6.86, for a total transaction of $248,146.78. Following the completion of the transaction, the chief accounting officer now directly owns 95,624 shares in the company, valued at $655,980.64. The trade was a 27.45% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Joe Mastrangelo sold 270,384 shares of the company's stock in a transaction that occurred on Friday, May 16th. The stock was sold at an average price of $6.86, for a total value of $1,854,834.24. Following the transaction, the chief executive officer now owns 1,109,409 shares of the company's stock, valued at approximately $7,610,545.74. This trade represents a 19.60% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 560,356 shares of company stock valued at $3,844,042. Corporate insiders own 3.63% of the company's stock.

Institutional Trading of Eos Energy Enterprises

Institutional investors and hedge funds have recently modified their holdings of the company. Parkside Financial Bank & Trust bought a new stake in shares of Eos Energy Enterprises during the fourth quarter valued at approximately $29,000. R Squared Ltd bought a new stake in shares of Eos Energy Enterprises during the fourth quarter valued at approximately $31,000. Carmel Capital Partners LLC bought a new stake in shares of Eos Energy Enterprises during the fourth quarter valued at approximately $49,000. KBC Group NV bought a new stake in shares of Eos Energy Enterprises during the first quarter valued at approximately $38,000. Finally, SBI Securities Co. Ltd. grew its position in Eos Energy Enterprises by 588.0% in the first quarter. SBI Securities Co. Ltd. now owns 10,065 shares of the company's stock valued at $38,000 after acquiring an additional 8,602 shares during the period. 54.87% of the stock is currently owned by institutional investors.

Eos Energy Enterprises Trading Down 2.6%

NASDAQ EOSE traded down $0.10 during trading on Friday, reaching $3.76. 12,070,253 shares of the company's stock were exchanged, compared to its average volume of 8,392,841. Eos Energy Enterprises has a fifty-two week low of $0.66 and a fifty-two week high of $7.36. The firm has a market capitalization of $855.74 million, a PE ratio of -1.56 and a beta of 1.97. The company's fifty day simple moving average is $5.06 and its 200-day simple moving average is $4.66.

Eos Energy Enterprises (NASDAQ:EOSE - Get Free Report) last announced its quarterly earnings data on Tuesday, May 6th. The company reported ($0.20) EPS for the quarter, missing analysts' consensus estimates of ($0.19) by ($0.01). The business had revenue of $10.46 million during the quarter, compared to analysts' expectations of $11.77 million. Equities analysts forecast that Eos Energy Enterprises will post -2.54 EPS for the current fiscal year.

About Eos Energy Enterprises

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.