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 research note released on Saturday morning.

Several other equities research analysts also recently commented on EOSE. 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 research note on Monday, June 9th. TD Cowen upgraded shares of Eos Energy Enterprises to a "hold" rating in a research note on Monday, June 23rd. Finally, Guggenheim reduced their target price on shares of Eos Energy Enterprises from $7.00 to $6.00 and set a "buy" rating on the stock in a research note on Monday, June 2nd. Five analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of $6.50.

Eos Energy Enterprises Stock Down 3.7%

Eos Energy Enterprises stock traded down $0.23 on Friday, hitting $5.95. The company's stock had a trading volume of 10,190,860 shares, compared to its average volume of 14,326,755. The firm has a market cap of $1.35 billion, a P/E ratio of -1.35 and a beta of 2.01. The company has a fifty day moving average price of $4.97 and a 200-day moving average price of $4.94. Eos Energy Enterprises has a one year low of $1.39 and a one year high of $7.36.

Eos Energy Enterprises (NASDAQ:EOSE - Get Free Report) last issued its earnings results on Tuesday, May 6th. The company reported ($0.20) EPS for the quarter, missing the consensus estimate of ($0.19) by ($0.01). The firm had revenue of $10.46 million for the quarter, compared to the consensus estimate of $11.77 million. Analysts anticipate that Eos Energy Enterprises will post -2.54 EPS for the current year.

Insider Activity at Eos Energy Enterprises

In related news, General Counsel Michael W. Silberman sold 100,943 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 transaction of $692,468.98. Following the transaction, the general counsel owned 161,404 shares in the company, valued at $1,107,231.44. This represents a 38.48% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Sumeet Puri sold 36,173 shares of the company's stock in a transaction dated Friday, May 16th. The stock was sold at an average price of $6.86, for a total transaction of $248,146.78. Following the transaction, the chief accounting officer owned 95,624 shares in the company, 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 have sold 1,108,053 shares of company stock worth $6,901,858 in the last 90 days. Corporate insiders own 3.63% of the company's stock.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. Legal & General Group Plc increased its stake in shares of Eos Energy Enterprises by 61,220.5% in the 4th quarter. Legal & General Group Plc now owns 4,804,461 shares of the company's stock valued at $23,350,000 after acquiring an additional 4,796,626 shares during the last quarter. Driehaus Capital Management LLC bought a new stake in shares of Eos Energy Enterprises in the 1st quarter valued at about $13,456,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new stake in shares of Eos Energy Enterprises in the 4th quarter valued at about $16,632,000. Alyeska Investment Group L.P. increased its stake in shares of Eos Energy Enterprises by 714.3% in the 4th quarter. Alyeska Investment Group L.P. now owns 1,628,500 shares of the company's stock valued at $7,915,000 after acquiring an additional 1,428,500 shares during the last quarter. Finally, American Financial Group Inc. increased its stake in Eos Energy Enterprises by 174.0% during the 1st quarter. American Financial Group Inc. now owns 1,861,930 shares of the company's stock worth $7,038,000 after purchasing an additional 1,182,310 shares in the last quarter. 54.87% of the stock is currently owned by institutional investors and hedge funds.

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.