Guggenheim Lowers Eos Energy Enterprises (NASDAQ:EOSE) Price Target to $6.00

Eos Energy Enterprises (NASDAQ:EOSE - Free Report) had its price objective reduced by Guggenheim from $7.00 to $6.00 in a research report sent to investors on Monday morning,Benzinga reports. They currently have a buy rating on the stock.

Several other research analysts have also recently issued reports on EOSE. Cowen reaffirmed a "hold" rating on shares of Eos Energy Enterprises in a report on Friday, March 7th. Roth Mkm cut shares of Eos Energy Enterprises from a "buy" rating to a "neutral" rating and lifted their target price for the stock from $4.00 to $5.00 in a report on Thursday, February 20th. Finally, Roth Capital cut shares of Eos Energy Enterprises from a "strong-buy" rating to a "hold" rating in a report on Thursday, February 20th. Four research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, Eos Energy Enterprises has a consensus rating of "Hold" and an average target price of $5.67.

Eos Energy Enterprises Stock Up 2.0%

Eos Energy Enterprises stock traded up $0.08 during trading hours on Monday, hitting $3.88. The stock had a trading volume of 13,558,947 shares, compared to its average volume of 8,457,290. The stock has a market capitalization of $881.91 million, a P/E ratio of -1.61 and a beta of 1.97. Eos Energy Enterprises has a 12-month low of $0.66 and a 12-month high of $7.36. The stock's 50-day moving average price is $5.05 and its 200-day moving average price is $4.65.

Eos Energy Enterprises (NASDAQ:EOSE - Get Free Report) last issued its 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 business had revenue of $10.46 million for the quarter, compared to analyst estimates of $11.77 million. On average, research analysts expect that Eos Energy Enterprises will post -2.54 EPS for the current fiscal year.

Insider Activity

In other news, CAO Sumeet Puri sold 36,173 shares of the business'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 transaction of $248,146.78. Following the completion of the transaction, the chief accounting officer now directly owns 95,624 shares of the company's stock, valued at $655,980.64. The trade was a 27.45% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Nathan Kroeker sold 152,856 shares of the business'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 transaction of $1,048,592.16. Following the transaction, 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 ownership of the stock. The disclosure for this sale can be found here. Insiders sold 560,356 shares of company stock valued at $3,844,042 over the last three months. Insiders own 3.63% of the company's stock.

Institutional Trading of Eos Energy Enterprises

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. WESPAC Advisors LLC increased 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 buying an additional 1,798 shares during the last quarter. Wells Fargo & Company MN increased its holdings in Eos Energy Enterprises by 3.6% during the fourth quarter. Wells Fargo & Company MN now owns 62,075 shares of the company's stock valued at $302,000 after buying an additional 2,175 shares during the last quarter. Montag A & Associates Inc. increased its holdings in Eos Energy Enterprises by 21.0% during the fourth quarter. Montag A & Associates Inc. now owns 13,809 shares of the company's stock valued at $67,000 after buying an additional 2,400 shares during the last quarter. Carmel Capital Partners LLC increased its holdings in Eos Energy Enterprises by 24.5% during the first quarter. Carmel Capital Partners LLC now owns 12,450 shares of the company's stock valued at $47,000 after buying an additional 2,450 shares during the last quarter. Finally, Meridian Wealth Management LLC increased its holdings in Eos Energy Enterprises by 2.6% during the first quarter. Meridian Wealth Management LLC now owns 102,400 shares of the company's stock valued at $387,000 after buying an additional 2,600 shares during the last quarter. 54.87% of the stock is owned by hedge funds and other institutional investors.

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.