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

Eos Energy Enterprises (NASDAQ:EOSE - Get Free Report) was downgraded by Wall Street Zen from a "hold" rating to a "sell" rating in a research report issued to clients and investors on Saturday.

A number of other research firms have also recently weighed in on EOSE. Guggenheim dropped their target price on shares of Eos Energy Enterprises from $7.00 to $6.00 and set a "buy" rating on the stock in a research note on Monday, June 2nd. Stifel Nicolaus dropped their price objective on Eos Energy Enterprises from $9.00 to $8.50 and set a "buy" rating on the stock in a research note on Monday, June 9th. Cowen reissued a "hold" rating on shares of Eos Energy Enterprises in a research report on Friday, March 7th. Finally, TD Cowen raised Eos Energy Enterprises to a "hold" rating in a research report on Monday, June 23rd. One research analyst has rated the stock with a sell rating, four have issued a hold rating and two have given a buy rating to the company's stock. According to MarketBeat, Eos Energy Enterprises has a consensus rating of "Hold" and an average price target of $6.50.

Eos Energy Enterprises Stock Up 3.6%

EOSE stock opened at $5.08 on Friday. The firm has a market cap of $1.16 billion, a PE ratio of -1.15 and a beta of 2.01. The business has a 50 day moving average of $5.14 and a 200-day moving average of $4.88. Eos Energy Enterprises has a 12-month low of $1.40 and a 12-month high of $7.36.

Eos Energy Enterprises (NASDAQ:EOSE - Get Free Report) last announced its quarterly earnings data on Tuesday, May 6th. The company reported ($0.20) earnings per share (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. On average, research analysts expect that Eos Energy Enterprises will post -2.54 earnings per share for the current year.

Insider Buying and Selling at Eos Energy Enterprises

In other Eos Energy Enterprises news, CEO Joe Mastrangelo sold 270,384 shares of the stock in a transaction on Friday, May 16th. The stock was sold at an average price of $6.86, for a total transaction of $1,854,834.24. Following the sale, the chief executive officer owned 1,109,409 shares in the company, valued at $7,610,545.74. This represents a 19.60% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Nathan Kroeker sold 152,856 shares of the firm's stock in a transaction on Friday, May 16th. The stock was sold at an average price of $6.86, for a total value of $1,048,592.16. Following the completion of the transaction, the insider directly owned 403,815 shares of the company's stock, valued at $2,770,170.90. The trade was a 27.46% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 560,356 shares of company stock valued at $3,844,042 over the last 90 days. 3.63% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the stock. KBC Group NV purchased a new stake in shares of Eos Energy Enterprises in the first quarter worth about $38,000. SBI Securities Co. Ltd. lifted its stake in Eos Energy Enterprises by 588.0% in 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 in the last quarter. Elevatus Welath Management purchased a new stake in Eos Energy Enterprises in the 1st quarter worth approximately $39,000. Parallel Advisors LLC bought a new position in Eos Energy Enterprises in the 1st quarter valued at $43,000. Finally, Carmel Capital Partners LLC grew its position in shares of Eos Energy Enterprises by 24.5% during the 1st quarter. Carmel Capital Partners LLC now owns 12,450 shares of the company's stock valued at $47,000 after purchasing an additional 2,450 shares in the last quarter. Hedge funds and other institutional investors own 54.87% of the company's stock.

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.

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