Eos Energy Enterprises (NASDAQ:EOSE) Rating Lowered to "Sell" at Wall Street Zen

Wall Street Zen cut shares of Eos Energy Enterprises (NASDAQ:EOSE - Free Report) from a hold rating to a sell rating in a research report released on Saturday morning.

Other equities analysts have also issued reports about the stock. Stifel Nicolaus cut their target price on shares of Eos Energy Enterprises from $9.00 to $8.50 and set a "buy" rating for the company in a report on Monday, June 9th. TD Cowen raised shares of Eos Energy Enterprises to a "hold" rating in a report on Monday, June 23rd. Guggenheim decreased their price objective on shares of Eos Energy Enterprises from $7.00 to $6.00 and set a "buy" rating for the company in a research report on Monday, June 2nd. Finally, Cowen restated a "hold" rating on shares of Eos Energy Enterprises in a research report on Friday, March 7th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, Eos Energy Enterprises has a consensus rating of "Hold" and an average target price of $6.50.

Eos Energy Enterprises Trading Down 7.0%

Shares of EOSE stock traded down $0.36 during mid-day trading on Friday, reaching $4.79. The stock had a trading volume of 15,724,943 shares, compared to its average volume of 8,678,377. Eos Energy Enterprises has a 1-year low of $1.40 and a 1-year high of $7.36. The firm has a market cap of $1.09 billion, a price-to-earnings ratio of -1.08 and a beta of 2.01. The business's fifty day moving average is $5.12 and its 200-day moving average is $4.89.

Eos Energy Enterprises (NASDAQ:EOSE - Get Free Report) last issued its quarterly earnings results on Tuesday, May 6th. The company reported ($0.20) earnings per share for the quarter, missing the consensus estimate of ($0.19) by ($0.01). The company had revenue of $10.46 million for the quarter, compared to the consensus estimate of $11.77 million. On average, analysts forecast that Eos Energy Enterprises will post -2.54 earnings per share for the current year.

Insider Activity at Eos Energy Enterprises

In related news, insider Nathan Kroeker sold 152,856 shares of the company's stock in a transaction dated Friday, May 16th. The shares were sold at an average price of $6.86, for a total transaction of $1,048,592.16. Following the completion of the transaction, the insider owned 403,815 shares in the company, valued at $2,770,170.90. This represents a 27.46% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Sumeet Puri sold 36,173 shares of the firm's stock in a transaction dated Friday, May 16th. The shares were 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 directly owned 95,624 shares in the company, valued at $655,980.64. This represents a 27.45% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 758,886 shares of company stock valued at $4,827,806. Insiders own 3.63% of the company's stock.

Hedge Funds Weigh In On Eos Energy Enterprises

Hedge funds have recently made changes to their positions in the company. KBC Group NV acquired a new stake in shares of Eos Energy Enterprises in the first quarter worth approximately $38,000. SBI Securities Co. Ltd. boosted its stake in Eos Energy Enterprises by 588.0% during the 1st quarter. SBI Securities Co. Ltd. now owns 10,065 shares of the company's stock worth $38,000 after purchasing an additional 8,602 shares during the last quarter. Elevatus Welath Management purchased a new stake in shares of Eos Energy Enterprises during the first quarter worth $39,000. Parallel Advisors LLC acquired a new stake in shares of Eos Energy Enterprises in the first quarter valued at about $43,000. Finally, Carmel Capital Partners LLC raised its position in shares of Eos Energy Enterprises by 24.5% in the first quarter. Carmel Capital Partners LLC now owns 12,450 shares of the company's stock valued at $47,000 after buying an additional 2,450 shares during the last quarter. Institutional investors and hedge funds own 54.87% of the company's stock.

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.