Baird Financial Group Inc. Cuts Stock Holdings in Eos Energy Enterprises, Inc. (NASDAQ:EOSE)

Baird Financial Group Inc. reduced its stake in shares of Eos Energy Enterprises, Inc. (NASDAQ:EOSE - Free Report) by 13.8% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,759,817 shares of the company's stock after selling 280,913 shares during the period. Baird Financial Group Inc. owned approximately 0.81% of Eos Energy Enterprises worth $8,553,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Parkside Financial Bank & Trust acquired a new position in Eos Energy Enterprises during the fourth quarter valued at $29,000. R Squared Ltd purchased a new position in shares of Eos Energy Enterprises during the 4th quarter valued at about $31,000. Carmel Capital Partners LLC purchased a new position in shares of Eos Energy Enterprises during the 4th quarter valued at about $49,000. Lake Street Private Wealth LLC acquired a new position in shares of Eos Energy Enterprises in the 4th quarter valued at about $51,000. Finally, Harel Insurance Investments & Financial Services Ltd. purchased a new stake in shares of Eos Energy Enterprises in the fourth quarter worth about $58,000. Hedge funds and other institutional investors own 54.87% of the company's stock.

Eos Energy Enterprises Stock Performance

Shares of NASDAQ EOSE traded up $0.21 during mid-day trading on Friday, reaching $6.21. 7,095,794 shares of the company's stock were exchanged, compared to its average volume of 7,624,520. The firm has a market capitalization of $1.41 billion, a price-to-earnings ratio of -2.58 and a beta of 2.11. Eos Energy Enterprises, Inc. has a 52-week low of $0.66 and a 52-week high of $6.89. The company's 50-day moving average is $4.50 and its 200-day moving average is $4.31.

Eos Energy Enterprises (NASDAQ:EOSE - Get Free Report) last issued its quarterly earnings data on Tuesday, May 6th. The company reported ($0.20) EPS for the quarter, missing the consensus estimate of ($0.19) by ($0.01). The firm had revenue of $10.46 million for the quarter, compared to analysts' expectations of $11.77 million. As a group, equities analysts predict that Eos Energy Enterprises, Inc. will post -2.54 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the company. Guggenheim reiterated a "buy" rating and set a $7.00 price target on shares of Eos Energy Enterprises in a research report on Tuesday, March 18th. Roth Mkm cut shares of Eos Energy Enterprises from a "buy" rating to a "neutral" rating and boosted their target price for the company from $4.00 to $5.00 in a research note on Thursday, February 20th. Roth Capital lowered shares of Eos Energy Enterprises from a "strong-buy" rating to a "hold" rating in a research report on Thursday, February 20th. Finally, Cowen restated a "hold" rating on shares of Eos Energy Enterprises in a research report on Friday, March 7th. Five analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, Eos Energy Enterprises currently has a consensus rating of "Hold" and a consensus price target of $4.70.

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.