Eos Energy Enterprises (NASDAQ:EOSE) Price Target Lowered to $8.50 at Stifel Nicolaus

Eos Energy Enterprises (NASDAQ:EOSE - Get Free Report) had its price objective lowered by research analysts at Stifel Nicolaus from $9.00 to $8.50 in a report released on Monday,Benzinga reports. The brokerage presently has a "buy" rating on the stock. Stifel Nicolaus' price objective suggests a potential upside of 98.37% from the stock's previous close.

A number of other equities research analysts have also recently commented on EOSE. Cowen reissued a "hold" rating on shares of Eos Energy Enterprises in a research note on Friday, March 7th. Guggenheim cut their target price on Eos Energy Enterprises from $7.00 to $6.00 and set a "buy" rating on the stock in a research report on Monday, June 2nd. Roth Capital downgraded Eos Energy Enterprises from a "strong-buy" rating to a "hold" rating in a report on Thursday, February 20th. Finally, Roth Mkm cut Eos Energy Enterprises from a "buy" rating to a "neutral" rating and raised their price objective for the company from $4.00 to $5.00 in a research note on Thursday, February 20th. Four investment analysts have rated the stock with a hold rating and two have given a buy rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus price target of $6.50.

Eos Energy Enterprises Stock Up 11.6%

Shares of EOSE traded up $0.45 during midday trading on Monday, hitting $4.29. The company's stock had a trading volume of 12,495,127 shares, compared to its average volume of 8,557,094. Eos Energy Enterprises has a one year low of $0.69 and a one year high of $7.36. The stock has a market capitalization of $975.22 million, a price-to-earnings ratio of -1.78 and a beta of 1.97. The company's fifty day simple moving average is $5.05 and its two-hundred day simple moving average is $4.71.

Eos Energy Enterprises (NASDAQ:EOSE - Get Free Report) last released its quarterly earnings data 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 during the quarter, compared to the consensus estimate of $11.77 million. On average, research analysts predict that Eos Energy Enterprises will post -2.54 earnings per share for the current year.

Insider Transactions at Eos Energy Enterprises

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

Hedge Funds Weigh In On Eos Energy Enterprises

Several institutional investors and hedge funds have recently bought and sold shares of EOSE. Stephens Inc. AR bought a new stake in shares of Eos Energy Enterprises in the fourth quarter valued at $64,000. Vontobel Holding Ltd. purchased a new stake in Eos Energy Enterprises in the 4th quarter worth about $146,000. Montag A & Associates Inc. raised its stake in Eos Energy Enterprises by 21.0% in the 4th quarter. Montag A & Associates Inc. now owns 13,809 shares of the company's stock valued at $67,000 after acquiring an additional 2,400 shares during the period. WESPAC Advisors LLC lifted its holdings in Eos Energy Enterprises by 16.6% during the fourth quarter. WESPAC Advisors LLC now owns 12,647 shares of the company's stock valued at $61,000 after purchasing an additional 1,798 shares during the last quarter. Finally, Bank of New York Mellon Corp boosted its position in Eos Energy Enterprises by 154.9% during the fourth quarter. Bank of New York Mellon Corp now owns 48,374 shares of the company's stock worth $235,000 after purchasing an additional 29,393 shares during the period. 54.87% of the stock is 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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