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

Key Points

• Analysts at Wall Street Zen downgraded Eos Energy Enterprises from a "hold" rating to a "sell" rating following disappointing earnings results.
• Eos Energy reported a loss of ($1.05) EPS for the quarter, missing analysts' expectations substantially.
• Institutional ownership of Eos Energy stands at 54.87%, with several hedge funds recently adjusting their positions in the company.

Wall Street Zen downgraded shares of Eos Energy Enterprises (NASDAQ:EOSE - Free Report) from a hold rating to a sell rating in a research report released on Sunday morning.

Other equities analysts have also issued research reports about the company. Guggenheim dropped their price objective on Eos Energy Enterprises from $7.00 to $6.00 and set a "buy" rating for the company in a research note on Monday, June 2nd. Stifel Nicolaus reduced their target price on shares of 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, TD Cowen lifted their target price on Eos Energy Enterprises from $5.50 to $6.00 and gave the stock a "hold" rating in a report on Friday, August 1st. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average price target of $6.38.

Eos Energy Enterprises Trading Up 0.5%

Shares of EOSE stock traded up $0.04 during midday trading on Friday, reaching $6.55. 7,878,343 shares of the stock were exchanged, compared to its average volume of 10,485,738. The firm has a market cap of $1.49 billion, a PE ratio of -1.26 and a beta of 2.07. The company's 50 day moving average is $4.95 and its two-hundred day moving average is $4.96. Eos Energy Enterprises has a 1 year low of $1.39 and a 1 year high of $7.36.

Eos Energy Enterprises (NASDAQ:EOSE - Get Free Report) last issued its earnings results on Wednesday, July 30th. The company reported ($1.05) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.17) by ($0.88). The business had revenue of $15.24 million for the quarter, compared to analyst estimates of $24.96 million. As a group, equities analysts expect that Eos Energy Enterprises will post -2.54 EPS for the current fiscal year.

Insider Activity at Eos Energy Enterprises

In other news, Director Alexander Dimitrief sold 45,000 shares of the stock in a transaction on Monday, August 4th. The stock was sold at an average price of $6.00, for a total transaction of $270,000.00. Following the transaction, the director owned 219,452 shares of the company's stock, valued at approximately $1,316,712. This represents a 17.02% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, General Counsel Michael W. Silberman sold 100,943 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 transaction of $692,468.98. Following the completion of the sale, the general counsel owned 161,404 shares of the company's stock, valued at approximately $1,107,231.44. This represents a 38.48% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 1,153,053 shares of company stock worth $7,171,858 over the last three months. Corporate insiders own 3.63% of the company's stock.

Institutional Investors Weigh In On Eos Energy Enterprises

Several institutional investors have recently bought and sold shares of the company. KBC Group NV purchased a new stake in shares of Eos Energy Enterprises during the first quarter worth about $38,000. SBI Securities Co. Ltd. boosted its position 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 acquired a new stake in Eos Energy Enterprises during the first quarter valued at $39,000. Amalgamated Bank purchased a new position in shares of Eos Energy Enterprises in the 2nd quarter valued at about $39,000. Finally, Parallel Advisors LLC acquired a new position in shares of Eos Energy Enterprises during the 1st quarter worth approximately $43,000. 54.87% of the stock is currently owned by institutional investors and hedge funds.

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.