Eos Energy Enterprises (NASDAQ:EOSE) Downgraded by Wall Street Zen to “Sell”

Eos Energy Enterprises (NASDAQ:EOSE) was downgraded by stock analysts at Wall Street Zen from a “hold” rating to a “sell” rating in a report released on Saturday.

Several other analysts also recently commented on EOSE. Guggenheim restated a “neutral” rating and issued a $20.00 target price on shares of Eos Energy Enterprises in a research note on Friday, February 27th. B. Riley Financial reduced their target price on Eos Energy Enterprises from $12.00 to $8.00 and set a “neutral” rating for the company in a research note on Thursday, March 5th. JPMorgan Chase & Co. reduced their target price on Eos Energy Enterprises from $9.00 to $6.00 and set a “neutral” rating for the company in a research note on Thursday, April 16th. Needham & Company LLC assumed coverage on Eos Energy Enterprises in a research note on Friday, May 22nd. They issued a “buy” rating and a $11.00 target price for the company. Finally, Zacks Research upgraded Eos Energy Enterprises from a “strong sell” rating to a “hold” rating in a research note on Tuesday, April 28th. Two analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average target price of $10.94.

Eos Energy Enterprises Price Performance

Shares of EOSE opened at $6.06 on Friday. The stock has a 50-day moving average of $7.08 and a 200-day moving average of $10.01. The company has a market cap of $2.06 billion, a PE ratio of -0.91 and a beta of 2.62. Eos Energy Enterprises has a one year low of $3.96 and a one year high of $19.86.

Eos Energy Enterprises (NASDAQ:EOSE) last issued its earnings results on Wednesday, May 13th. The company reported $0.12 EPS for the quarter, beating the consensus estimate of ($0.22) by $0.34. The firm had revenue of $56.96 million during the quarter, compared to analyst estimates of $54.32 million. Analysts expect that Eos Energy Enterprises will post -0.31 EPS for the current fiscal year.

Insider Buying and Selling

In other Eos Energy Enterprises news, Director Marian Walters sold 7,681 shares of the business’s stock in a transaction that occurred on Tuesday, May 19th. The stock was sold at an average price of $7.07, for a total transaction of $54,304.67. Following the completion of the sale, the director directly owned 135,334 shares of the company’s stock, valued at approximately $956,811.38. The trade was a 5.37% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 1.73% of the company’s stock.

Institutional Trading of Eos Energy Enterprises

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Shariaportfolio Inc. bought a new stake in Eos Energy Enterprises during the 1st quarter worth approximately $1,016,000. J. Derek Lewis & Associates Inc. bought a new stake in Eos Energy Enterprises during the 1st quarter worth approximately $98,000. Bank of America Corp DE increased its holdings in Eos Energy Enterprises by 89.1% during the 1st quarter. Bank of America Corp DE now owns 1,247,548 shares of the company’s stock worth $6,188,000 after purchasing an additional 587,752 shares in the last quarter. Amundi increased its holdings in Eos Energy Enterprises by 163.2% during the 1st quarter. Amundi now owns 26,586 shares of the company’s stock worth $132,000 after purchasing an additional 16,485 shares in the last quarter. Finally, California State Teachers Retirement System increased its holdings in Eos Energy Enterprises by 21.0% during the 1st quarter. California State Teachers Retirement System now owns 376,101 shares of the company’s stock worth $1,865,000 after purchasing an additional 65,216 shares in the last quarter. 54.87% of the stock is owned by institutional investors.

Eos Energy Enterprises Company Profile

Eos Energy Enterprises specializes in the development and deployment of scalable, long-duration energy storage systems designed to support the integration of renewable power and enhance grid reliability. The company’s core technology centers on its proprietary zinc hybrid cathode (Znyth™) battery platform, which aims to deliver safe, low-cost, and durable performance for utility, commercial and industrial, and microgrid applications.

The company’s flagship product, the Aurora™ energy storage system, combines its Znyth™ cells with modular power conversion and controls to offer flexible capacity ranging from one to three hours of discharge duration.