Eos Energy Enterprises (NASDAQ:EOSE) Raised to "Hold" at TD Cowen

Eos Energy Enterprises (NASDAQ:EOSE - Get Free Report) was upgraded by analysts at TD Cowen to a "hold" rating in a report released on Monday,Zacks.com reports.

EOSE has been the subject of a number of other research reports. Cowen reiterated a "hold" rating on shares of Eos Energy Enterprises in a research report on Friday, March 7th. Stifel Nicolaus lowered their price target 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. Finally, Guggenheim lowered their price target on shares of Eos Energy Enterprises from $7.00 to $6.00 and set a "buy" rating for the company in a report on Monday, June 2nd. Five investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus price target of $6.50.

Eos Energy Enterprises Trading Down 6.7%

NASDAQ:EOSE opened at $4.19 on Monday. The firm has a 50-day moving average price of $5.16 and a two-hundred day moving average price of $4.82. Eos Energy Enterprises has a twelve month low of $0.96 and a twelve month high of $7.36. The company has a market capitalization of $953.60 million, a P/E ratio of -0.95 and a beta of 1.97.

Eos Energy Enterprises (NASDAQ:EOSE - Get Free Report) last issued its quarterly earnings data on Tuesday, May 6th. The company reported ($0.20) earnings per share for the quarter, missing analysts' consensus estimates of ($0.19) by ($0.01). The firm had revenue of $10.46 million for the quarter, compared to analyst estimates of $11.77 million. On average, equities research analysts predict 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 news, insider Nathan Kroeker sold 152,856 shares of the business's stock in a transaction on 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 sale, the insider now directly owns 403,815 shares of the company's stock, valued at $2,770,170.90. The trade was a 27.46% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CAO Sumeet Puri sold 36,173 shares of the business's stock in a transaction dated Friday, May 16th. The shares were sold at an average price of $6.86, for a total value of $248,146.78. Following the sale, the chief accounting officer now directly owns 95,624 shares of the company's stock, valued at approximately $655,980.64. This trade represents a 27.45% decrease in their position. The disclosure for this sale can be found here. Insiders sold 560,356 shares of company stock worth $3,844,042 in the last 90 days. 3.63% of the stock is owned by company insiders.

Institutional Investors Weigh In On Eos Energy Enterprises

Several institutional investors and hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. boosted its holdings in Eos Energy Enterprises by 0.6% in the first quarter. Vanguard Group Inc. now owns 10,362,810 shares of the company's stock valued at $39,171,000 after purchasing an additional 59,762 shares during the last quarter. Stifel Financial Corp boosted its stake in shares of Eos Energy Enterprises by 6.4% during the 4th quarter. Stifel Financial Corp now owns 4,978,078 shares of the company's stock valued at $24,193,000 after buying an additional 297,909 shares during the last quarter. Legal & General Group Plc boosted its stake 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 valued at $23,350,000 after buying an additional 4,796,626 shares during the last quarter. Goldman Sachs Group Inc. boosted its stake in shares of Eos Energy Enterprises by 36.8% during the 1st quarter. Goldman Sachs Group Inc. now owns 3,900,513 shares of the company's stock valued at $14,744,000 after buying an additional 1,050,128 shares during the last quarter. Finally, Driehaus Capital Management LLC bought a new position in Eos Energy Enterprises during the 1st quarter valued at $13,456,000. 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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