Eos Energy Enterprises (NASDAQ:EOSE) Stock Price Target Cut by Stifel Nicolaus

Eos Energy Enterprises (NASDAQ:EOSE) had its price objective cut by investment analysts at Stifel Nicolaus from $9.00 to $4.00 in a report released on Monday, Benzinga reports. The firm currently has a “buy” rating on the stock. Stifel Nicolaus‘s price objective points to a potential upside of 129.89% from the company’s previous close.

Several other research analysts also recently commented on EOSE. Roth Capital raised their price objective on Eos Energy Enterprises from $4.00 to $4.50 and gave the stock a “neutral” rating in a report on Thursday, September 10th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Eos Energy Enterprises in a report on Thursday, October 15th. TD Cowen raised Eos Energy Enterprises to a “hold” rating in a research report on Monday, October 5th. Needham & Company LLC dropped their price target on Eos Energy Enterprises from $10.00 to $6.00 and set a “buy” rating on the stock in a research report on Monday, October 19th. Finally, Wall Street Zen lowered Eos Energy Enterprises from a “sell” rating to a “strong sell” rating in a research note on Saturday, August 8th. One equities research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $7.06.

Eos Energy Enterprises Stock Performance

Shares of NASDAQ:EOSE opened at $1.74 on Monday. The firm has a market cap of $633.65 million, a PE ratio of -0.83 and a beta of 3.17. 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.

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

Insiders Place Their Bets

In related news, CAO Sumeet Puri sold 43,750 shares of the stock in a transaction that occurred on Wednesday, September 16th. The shares were sold at an average price of $3.92, for a total value of $171,500.00. Following the completion of the transaction, the chief accounting officer directly owned 280,195 shares of the company’s stock, valued at $1,098,364.40. This trade represents a 13.51% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available 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, Director Haiyan Song purchased 10,000 shares of the firm’s stock in a transaction on Friday, September 11th. The stock was bought at an average cost of $3.95 per share, with a total value of $39,500.00. Following the acquisition, the director owned 10,000 shares of the company’s stock, valued at approximately $39,500. The trade was a ∞ increase in their position. The disclosure for this purchase is available in the SEC filing. In the last ninety days, insiders sold 377,917 shares of company stock valued at $1,392,610. Company insiders own 1.73% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of EOSE. Allworth Financial LP lifted its holdings in Eos Energy Enterprises by 198.6% in the second quarter. Allworth Financial LP now owns 4,300 shares of the company’s stock valued at $25,000 after acquiring an additional 2,860 shares during the period. Sax Wealth Advisors LLC purchased a new stake in shares of Eos Energy Enterprises during the third quarter worth about $31,000. Sterling Capital Management LLC raised its holdings in shares of Eos Energy Enterprises by 861.5% during the third quarter. Sterling Capital Management LLC now owns 11,634 shares of the company’s stock valued at $36,000 after acquiring an additional 10,424 shares during the last quarter. Chicago Partners Investment Group LLC acquired a new position in Eos Energy Enterprises in the 3rd quarter valued at $44,000. Finally, PNC Financial Services Group Inc. lifted its stake in shares of Eos Energy Enterprises by 279.4% in the first quarter. PNC Financial Services Group Inc. now owns 9,577 shares of the company’s stock worth $48,000 after buying an additional 7,053 shares in the last quarter. 54.87% of the stock is currently owned by hedge funds and other institutional investors.

About Eos Energy Enterprises

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.