Eos Energy Enterprises (NASDAQ:EOSE) Price Target Raised to $6.00 at TD Cowen

Key Points

• TD Cowen has raised its price target for Eos Energy Enterprises from $5.50 to $6.00, indicating a potential upside of 5.26% from the stock's previous close.
• Recently, Eos Energy reported a quarterly earnings loss of ($1.05) EPS, missing consensus estimates significantly, and generated revenue of $15.24 million, also below expectations.
• Insider selling activity includes CEO Joe Mastrangelo selling over 270,000 shares, reflecting a 19.60% decrease in his ownership of the company’s stock.

Eos Energy Enterprises (NASDAQ:EOSE - Get Free Report) had its target price lifted by research analysts at TD Cowen from $5.50 to $6.00 in a note issued to investors on Friday. The brokerage presently has a "hold" rating on the stock. TD Cowen's target price suggests a potential upside of 5.26% from the company's previous close.

EOSE has been the topic of several other research reports. Guggenheim decreased their target price on Eos Energy Enterprises from $7.00 to $6.00 and set a "buy" rating on the stock in a report on Monday, June 2nd. Stifel Nicolaus cut their price target 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. Finally, Wall Street Zen raised Eos Energy Enterprises from a "sell" rating to a "hold" rating in a research note on Saturday, July 26th. Five analysts have rated the stock with a hold rating and two have given a buy rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus target price of $6.38.

Eos Energy Enterprises Trading Down 3.7%

Shares of NASDAQ EOSE opened at $5.70 on Friday. The firm has a market capitalization of $1.30 billion, a PE ratio of -1.09 and a beta of 2.01. Eos Energy Enterprises has a one year low of $1.39 and a one year high of $7.36. The business has a 50-day moving average price of $4.96 and a two-hundred day moving average price of $4.95.

Eos Energy Enterprises (NASDAQ:EOSE - Get Free Report) last issued its quarterly earnings results on Wednesday, July 30th. The company reported ($1.05) EPS for the quarter, missing the consensus estimate of ($0.17) by ($0.88). The business had revenue of $15.24 million during the quarter, compared to the consensus estimate of $24.96 million. Research analysts anticipate that Eos Energy Enterprises will post -2.54 EPS for the current year.

Insider Transactions at Eos Energy Enterprises

In other news, CEO Joe Mastrangelo sold 270,384 shares of the firm'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 completion of the sale, the chief executive officer directly owned 1,109,409 shares of the company's stock, valued at $7,610,545.74. This trade represents a 19.60% decrease in their ownership of the stock. The transaction was disclosed in a 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 that occurred on Friday, May 16th. The shares were sold at an average price of $6.86, for a total value of $1,048,592.16. Following the completion of the sale, the insider directly owned 403,815 shares of the company's stock, valued at approximately $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 1,108,053 shares of company stock valued at $6,901,858 in the last ninety days. Corporate insiders own 3.63% of the company's stock.

Hedge Funds Weigh In On Eos Energy Enterprises

A number of hedge funds have recently added to or reduced their stakes in EOSE. Legal & General Group Plc raised its holdings in shares of Eos Energy Enterprises by 61,220.5% during the 4th quarter. Legal & General Group Plc now owns 4,804,461 shares of the company's stock worth $23,350,000 after buying an additional 4,796,626 shares in the last quarter. Driehaus Capital Management LLC bought a new stake in shares of Eos Energy Enterprises in the 1st quarter valued at about $13,456,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new stake in shares of Eos Energy Enterprises in the 4th quarter valued at about $16,632,000. Alyeska Investment Group L.P. grew its position in shares of Eos Energy Enterprises by 714.3% in the 4th quarter. Alyeska Investment Group L.P. now owns 1,628,500 shares of the company's stock valued at $7,915,000 after buying an additional 1,428,500 shares during the last quarter. Finally, American Financial Group Inc. grew its position in shares of Eos Energy Enterprises by 174.0% in the 1st quarter. American Financial Group Inc. now owns 1,861,930 shares of the company's stock valued at $7,038,000 after buying an additional 1,182,310 shares during the last quarter. 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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