Eos Energy Enterprises (NASDAQ:EOSE) Stock Rating Upgraded by TD Cowen

TD Cowen upgraded shares of Eos Energy Enterprises (NASDAQ:EOSE) to a hold rating in a research report sent to investors on Monday,Zacks.com reports.

Other equities analysts have also issued research reports about the stock. Cowen reaffirmed a “hold” rating on shares of Eos Energy Enterprises in a research note on Friday, March 7th. Guggenheim decreased their price objective on shares of 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. Finally, Stifel Nicolaus decreased their price objective on shares of Eos Energy Enterprises from $9.00 to $8.50 and set a “buy” rating for the company in a research note on Monday, June 9th. Five research analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to MarketBeat.com, Eos Energy Enterprises currently has an average rating of “Hold” and a consensus target price of $6.50.

Eos Energy Enterprises Stock Performance

Eos Energy Enterprises stock opened at $4.19 on Monday. The company has a 50 day moving average price of $5.16 and a 200 day moving average price of $4.82. Eos Energy Enterprises has a 52 week low of $0.96 and a 52 week high of $7.36. The firm has a market capitalization of $953.60 million, a price-to-earnings ratio of -0.95 and a beta of 1.97.

Eos Energy Enterprises (NASDAQ:EOSE) last posted its quarterly earnings data on Tuesday, May 6th. The company reported ($0.20) 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 analysts’ expectations of $11.77 million. Equities analysts forecast that Eos Energy Enterprises will post -2.54 earnings per share for the current fiscal year.

Insider Buying and Selling at Eos Energy Enterprises

In other Eos Energy Enterprises news, CEO Joe Mastrangelo sold 270,384 shares of Eos Energy Enterprises stock in a transaction on Friday, May 16th. The shares were sold at an average price of $6.86, for a total transaction of $1,854,834.24. Following the completion of the sale, the chief executive officer now owns 1,109,409 shares of the company’s stock, valued at $7,610,545.74. This trade represents a 19.60% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CAO Sumeet Puri sold 36,173 shares of the firm’s stock in a transaction 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 transaction, the chief accounting officer now owns 95,624 shares in the company, valued at $655,980.64. This represents a 27.45% decrease in their position. The disclosure for this sale can be found here. Insiders sold 560,356 shares of company stock valued at $3,844,042 in the last quarter. Company insiders own 3.63% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Integrity Alliance LLC. bought a new position in shares of Eos Energy Enterprises during the 1st quarter valued at $113,000. CTC Alternative Strategies Ltd. bought a new position in shares of Eos Energy Enterprises during the 1st quarter valued at $65,000. Goldman Sachs Group Inc. raised its holdings in shares of Eos Energy Enterprises by 36.8% during the 1st quarter. Goldman Sachs Group Inc. now owns 3,900,513 shares of the company’s stock valued at $14,744,000 after purchasing an additional 1,050,128 shares in the last quarter. Millennium Management LLC raised its holdings in shares of Eos Energy Enterprises by 55.1% during the 1st quarter. Millennium Management LLC now owns 2,522,273 shares of the company’s stock valued at $9,534,000 after purchasing an additional 896,471 shares in the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in shares of Eos Energy Enterprises by 1.5% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 3,286,648 shares of the company’s stock valued at $12,925,000 after purchasing an additional 50,117 shares in the last quarter. 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.