Eos Energy Enterprises (NASDAQ:EOSE) Upgraded by Wall Street Zen to "Hold" Rating

Key Points

• Wall Street Zen has upgraded Eos Energy Enterprises (NASDAQ:EOSE) from a "sell" rating to a "hold" rating, indicating a more favorable outlook for the stock.
• The stock has been rated "hold" by five research analysts, while two have given it a "buy" rating, with an average price target of $6.50.
• In recent insider trading activity, key executives sold significant amounts of stock, with the CAO selling 36,173 shares for approximately $248,146.

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

A number of other equities analysts also recently issued reports on the stock. Stifel Nicolaus cut their price objective 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. TD Cowen upgraded Eos Energy Enterprises to a "hold" rating in a research report on Monday, June 23rd. Finally, Guggenheim cut their price objective on 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 research analysts have rated the stock with a hold rating and two have issued a buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average price target of $6.50.

Eos Energy Enterprises Stock Performance

Shares of EOSE stock traded down $0.25 on Friday, hitting $6.13. The company's stock had a trading volume of 7,318,232 shares, compared to its average volume of 10,241,219. The company has a market capitalization of $1.39 billion, a PE ratio of -1.39 and a beta of 2.01. Eos Energy Enterprises has a fifty-two week low of $1.39 and a fifty-two week high of $7.36. The stock's 50 day moving average is $4.98 and its 200-day moving average is $4.93.

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 (EPS) for the quarter, missing analysts' consensus estimates of ($0.19) by ($0.01). The company had revenue of $10.46 million for the quarter, compared to analyst estimates of $11.77 million. On average, research analysts forecast that Eos Energy Enterprises will post -2.54 earnings per share for the current year.

Insider Transactions at Eos Energy Enterprises

In related news, CEO Joe Mastrangelo sold 127,152 shares of the company's stock in a transaction on Tuesday, July 8th. The stock was sold at an average price of $4.92, for a total transaction of $625,587.84. Following the completion of the sale, the chief executive officer directly owned 1,236,560 shares in the company, valued at $6,083,875.20. This represents a 9.32% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, CAO Sumeet Puri sold 36,173 shares of the company'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 transaction, the chief accounting officer directly owned 95,624 shares in the company, valued at $655,980.64. This represents a 27.45% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 758,886 shares of company stock valued at $4,827,806 over the last 90 days. 3.63% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Eos Energy Enterprises

A number of hedge funds have recently bought and sold shares of EOSE. KBC Group NV purchased a new position in Eos Energy Enterprises during the first quarter worth approximately $38,000. SBI Securities Co. Ltd. boosted 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 worth $38,000 after acquiring an additional 8,602 shares in the last quarter. Elevatus Welath Management acquired a new position in shares of Eos Energy Enterprises during the 1st quarter worth about $39,000. Parallel Advisors LLC acquired a new stake in shares of Eos Energy Enterprises in the 1st quarter valued at about $43,000. Finally, Carmel Capital Partners LLC lifted its position in Eos Energy Enterprises by 24.5% during the 1st quarter. Carmel Capital Partners LLC now owns 12,450 shares of the company's stock worth $47,000 after acquiring an additional 2,450 shares during the period. 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.