Eos Energy Enterprises (NASDAQ:EOSE) Price Target Cut to $2.00 by Analysts at B. Riley Financial

Eos Energy Enterprises (NASDAQ:EOSE) had its target price decreased by investment analysts at B. Riley Financial from $5.00 to $2.00 in a research report issued to clients and investors on Monday, Benzinga reports. The brokerage currently has a “neutral” rating on the stock. B. Riley Financial‘s target price indicates a potential upside of 14.61% from the stock’s previous close.

A number of other research firms also recently weighed in on EOSE. Weiss Ratings reissued a “sell (d-)” rating on shares of Eos Energy Enterprises in a research report on Thursday, October 15th. Wall Street Zen lowered shares of Eos Energy Enterprises from a “sell” rating to a “strong sell” rating in a research note on Saturday, August 8th. Needham & Company LLC decreased their price objective on shares of Eos Energy Enterprises from $10.00 to $6.00 and set a “buy” rating for the company in a research report on Monday, October 19th. Stifel Nicolaus lowered their target price on shares of Eos Energy Enterprises from $9.00 to $4.00 and set a “buy” rating for the company in a research note on Monday. Finally, Roth Capital lifted their target price on shares of Eos Energy Enterprises from $4.00 to $4.50 and gave the stock a “neutral” rating in a research note on Thursday, September 10th. One investment analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, Eos Energy Enterprises has an average rating of “Hold” and a consensus target price of $6.69.

Eos Energy Enterprises Price Performance

NASDAQ:EOSE opened at $1.75 on Monday. The firm’s 50 day simple moving average is $2.86 and its 200 day simple moving average is $5.98. Eos Energy Enterprises has a one year low of $1.59 and a one year high of $19.86. The company has a market cap of $635.47 million, a PE ratio of -0.83 and a beta of 3.17.

Eos Energy Enterprises (NASDAQ:EOSE) last posted its earnings results on Thursday, November 5th. The company reported ($0.17) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.24) by $0.07. Eos Energy Enterprises had a net margin of 89.23% and a negative return on equity of 17.24%. The firm had revenue of $82.73 million for the quarter, compared to analyst estimates of $81.60 million. Equities research analysts expect that Eos Energy Enterprises will post -1.28 EPS for the current year.

Insider Transactions at Eos Energy Enterprises

In other Eos Energy Enterprises news, CAO Sumeet Puri sold 43,750 shares of the company’s stock in a transaction on Wednesday, September 16th. The shares were sold at an average price of $3.92, for a total transaction of $171,500.00. Following the transaction, the chief accounting officer owned 280,195 shares in the company, valued at approximately $1,098,364.40. This represents a 13.51% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO Joe Mastrangelo sold 250,000 shares of the business’s stock in a transaction that occurred on Wednesday, September 16th. The stock was sold at an average price of $3.92, for a total value of $980,000.00. Following the sale, the chief executive officer directly owned 2,308,704 shares of the company’s stock, valued at $9,050,119.68. This represents a 9.77% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last 90 days, insiders have sold 377,917 shares of company stock valued at $1,392,610. 1.73% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Eos Energy Enterprises

Several hedge funds have recently modified their holdings of EOSE. Allworth Financial LP boosted its position in Eos Energy Enterprises by 198.6% in the second quarter. Allworth Financial LP now owns 4,300 shares of the company’s stock worth $25,000 after purchasing an additional 2,860 shares during the last quarter. Sax Wealth Advisors LLC bought a new position in Eos Energy Enterprises in the 3rd quarter valued at $31,000. Sterling Capital Management LLC increased its position in shares of Eos Energy Enterprises by 861.5% during the 3rd quarter. Sterling Capital Management LLC now owns 11,634 shares of the company’s stock valued at $36,000 after purchasing an additional 10,424 shares during the last quarter. Chicago Partners Investment Group LLC purchased a new stake in shares of Eos Energy Enterprises during the 3rd quarter valued at $44,000. Finally, PNC Financial Services Group Inc. increased its position in shares of Eos Energy Enterprises by 279.4% during the 1st quarter. PNC Financial Services Group Inc. now owns 9,577 shares of the company’s stock valued at $48,000 after purchasing an additional 7,053 shares during the last quarter. Institutional investors own 54.87% of the company’s stock.

Eos Energy Enterprises Company Profile

Eos Energy Enterprises, Inc develops and manufactures long-duration energy storage systems designed to help utilities, renewable energy developers, and commercial and industrial customers store electricity for use when demand is high or renewable generation is unavailable. The company’s technology is based on aqueous zinc battery chemistry, which it markets as a non-lithium alternative for stationary energy storage applications.

Eos’ product portfolio includes the Eos Z3 battery system and related generations of its zinc-based storage technology.