Eos Energy Enterprises (NASDAQ:EOSE) Price Target Cut to $6.00 by Analysts at Guggenheim

Eos Energy Enterprises (NASDAQ:EOSE) had its price target decreased by equities research analysts at Guggenheim from $7.00 to $6.00 in a research report issued to clients and investors on Monday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. Guggenheim’s target price indicates a potential upside of 55.44% from the company’s current price.

Several other research analysts also recently issued reports on EOSE. Roth Capital downgraded shares of Eos Energy Enterprises from a “strong-buy” rating to a “hold” rating in a research report on Thursday, February 20th. Roth Mkm downgraded shares of Eos Energy Enterprises from a “buy” rating to a “neutral” rating and boosted their price target for the stock from $4.00 to $5.00 in a research note on Thursday, February 20th. Finally, Cowen restated a “hold” rating on shares of Eos Energy Enterprises in a report on Friday, March 7th. Four equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $5.67.

Eos Energy Enterprises Trading Down 7.0%

NASDAQ EOSE opened at $3.86 on Monday. The stock’s 50 day moving average is $5.06 and its two-hundred day moving average is $4.66. The company has a market capitalization of $878.50 million, a price-to-earnings ratio of -1.60 and a beta of 2.11. Eos Energy Enterprises has a 1-year low of $0.66 and a 1-year high of $7.36.

Eos Energy Enterprises (NASDAQ:EOSE) last released its quarterly earnings results on Tuesday, May 6th. The company reported ($0.20) EPS for the quarter, missing analysts’ consensus estimates of ($0.19) by ($0.01). The business had revenue of $10.46 million for the quarter, compared to analysts’ expectations of $11.77 million. On average, analysts predict that Eos Energy Enterprises will post -2.54 earnings per share for the current year.

Insider Transactions at Eos Energy Enterprises

In other Eos Energy Enterprises news, insider Nathan Kroeker sold 152,856 shares of the firm’s stock in a transaction that occurred on Friday, May 16th. The shares were sold at an average price of $6.86, for a total transaction of $1,048,592.16. Following the sale, the insider now directly owns 403,815 shares in the company, valued at approximately $2,770,170.90. This trade represents a 27.46% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Joe Mastrangelo sold 270,384 shares of Eos Energy Enterprises stock in a transaction dated Friday, May 16th. The shares were sold at an average price of $6.86, for a total value of $1,854,834.24. Following the completion of the sale, the chief executive officer now directly owns 1,109,409 shares in the company, valued at $7,610,545.74. This represents a 19.60% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 560,356 shares of company stock valued at $3,844,042 over the last three months. 3.63% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Eos Energy Enterprises

Hedge funds have recently modified their holdings of the stock. Parkside Financial Bank & Trust acquired a new stake in shares of Eos Energy Enterprises in the 4th quarter valued at approximately $29,000. R Squared Ltd bought a new stake in Eos Energy Enterprises in the 4th quarter valued at $31,000. KBC Group NV bought a new position in shares of Eos Energy Enterprises in the first quarter valued at about $38,000. SBI Securities Co. Ltd. raised its position in shares of Eos Energy Enterprises by 588.0% in the first quarter. SBI Securities Co. Ltd. now owns 10,065 shares of the company’s stock valued at $38,000 after purchasing an additional 8,602 shares during the period. Finally, Elevatus Welath Management acquired a new stake in shares of Eos Energy Enterprises during the 1st quarter worth about $39,000. 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.