Eos Energy Enterprises (NASDAQ:EOSE) Rating Increased to Hold at TD Cowen

TD Cowen upgraded shares of Eos Energy Enterprises (NASDAQ:EOSE - Free Report) to a hold rating in a research report sent to investors on Monday morning,Zacks.com reports.

EOSE has been the topic of several other research reports. Cowen reissued a "hold" rating on shares of Eos Energy Enterprises in a report on Friday, March 7th. 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 report on Monday, June 9th. Finally, Guggenheim cut their price target 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. Four analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to MarketBeat, Eos Energy Enterprises presently has a consensus rating of "Hold" and a consensus price target of $6.50.

Eos Energy Enterprises Stock Down 2.9%

Shares of EOSE traded down $0.13 during mid-day trading on Monday, hitting $4.41. The stock had a trading volume of 44,619,420 shares, compared to its average volume of 8,685,101. The company has a market cap of $1.00 billion, a PE ratio of -1.00 and a beta of 1.97. The company's fifty day simple moving average is $5.12 and its two-hundred day simple moving average is $4.83. Eos Energy Enterprises has a fifty-two week low of $1.27 and a fifty-two week high of $7.36.

Eos Energy Enterprises (NASDAQ:EOSE - Get Free Report) last announced its quarterly earnings results on Tuesday, May 6th. The company reported ($0.20) earnings per share (EPS) 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 analyst estimates of $11.77 million. Equities 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, CAO Sumeet Puri sold 36,173 shares of Eos Energy Enterprises stock in a transaction on Friday, May 16th. The stock was sold at an average price of $6.86, for a total transaction of $248,146.78. Following the sale, the chief accounting officer now owns 95,624 shares of the company's stock, valued at $655,980.64. The trade was a 27.45% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Joe Mastrangelo sold 270,384 shares of Eos Energy Enterprises stock in a transaction on Friday, May 16th. The shares were sold at an average price of $6.86, for a total value of $1,854,834.24. Following the sale, the chief executive officer now directly owns 1,109,409 shares in the company, valued at $7,610,545.74. The trade was a 19.60% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 560,356 shares of company stock valued at $3,844,042 in the last quarter. Corporate insiders own 3.63% of the company's stock.

Institutional Trading of Eos Energy Enterprises

Hedge funds have recently added to or reduced their stakes in the business. Parkside Financial Bank & Trust acquired a new position in shares of Eos Energy Enterprises during the 4th quarter valued at $29,000. Carmel Capital Partners LLC acquired a new position in shares of Eos Energy Enterprises during the 4th quarter valued at $49,000. KBC Group NV acquired a new position in shares of Eos Energy Enterprises during the 1st quarter valued at $38,000. SBI Securities Co. Ltd. increased its position in shares of Eos Energy Enterprises by 588.0% during the 1st quarter. SBI Securities Co. Ltd. now owns 10,065 shares of the company's stock valued at $38,000 after purchasing an additional 8,602 shares during the period. Finally, Elevatus Welath Management acquired a new position in shares of Eos Energy Enterprises during the 1st quarter valued at $39,000. 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.