Stifel Nicolaus Cuts Eos Energy Enterprises (NASDAQ:EOSE) Price Target to $8.50

Eos Energy Enterprises (NASDAQ:EOSE) had its price target decreased by research analysts at Stifel Nicolaus from $9.00 to $8.50 in a research report issued on Monday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. Stifel Nicolaus’ price objective indicates a potential upside of 108.85% from the company’s previous close.

EOSE has been the subject of several other reports. Guggenheim lowered their price target on Eos Energy Enterprises from $7.00 to $6.00 and set a “buy” rating for the company in a report on Monday, June 2nd. Cowen restated a “hold” rating on shares of Eos Energy Enterprises in a report on Friday, March 7th. Roth Capital downgraded Eos Energy Enterprises from a “strong-buy” rating to a “hold” rating in a report on Thursday, February 20th. Finally, Roth Mkm cut Eos Energy Enterprises from a “buy” rating to a “neutral” rating and upped their price objective for the stock from $4.00 to $5.00 in a research report on Thursday, February 20th. Four analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $6.50.

Eos Energy Enterprises Stock Down 2.6%

EOSE stock opened at $4.07 on Monday. The company has a market cap of $926.29 million, a P/E ratio of -1.69 and a beta of 1.97. Eos Energy Enterprises has a twelve month low of $0.74 and a twelve month high of $7.36. The business has a fifty day moving average of $5.06 and a 200-day moving average of $4.71.

Eos Energy Enterprises (NASDAQ:EOSE) last released 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 during the quarter, compared to analyst estimates of $11.77 million. As a group, equities research analysts anticipate that Eos Energy Enterprises will post -2.54 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, General Counsel Michael W. Silberman sold 100,943 shares of the business’s stock in a transaction dated Friday, May 16th. The stock was sold at an average price of $6.86, for a total value of $692,468.98. Following the completion of the sale, the general counsel now directly owns 161,404 shares of the company’s stock, valued at $1,107,231.44. The trade was a 38.48% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Nathan Kroeker sold 152,856 shares of the business’s stock in a transaction that occurred on Friday, May 16th. The stock was sold at an average price of $6.86, for a total value of $1,048,592.16. Following the sale, the insider now directly owns 403,815 shares of the company’s stock, valued at $2,770,170.90. This represents a 27.46% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 560,356 shares of company stock worth $3,844,042 in the last 90 days. Company insiders own 3.63% of the company’s stock.

Hedge Funds Weigh In On Eos Energy Enterprises

Several institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. lifted its stake in Eos Energy Enterprises by 0.6% in the first quarter. Vanguard Group Inc. now owns 10,362,810 shares of the company’s stock valued at $39,171,000 after purchasing an additional 59,762 shares during the last quarter. Stifel Financial Corp lifted its stake in Eos Energy Enterprises by 6.4% in the fourth quarter. Stifel Financial Corp now owns 4,978,078 shares of the company’s stock valued at $24,193,000 after purchasing an additional 297,909 shares during the last quarter. Legal & General Group Plc lifted its stake in Eos Energy Enterprises by 61,220.5% in the fourth quarter. Legal & General Group Plc now owns 4,804,461 shares of the company’s stock valued at $23,350,000 after purchasing an additional 4,796,626 shares during the last quarter. Goldman Sachs Group Inc. lifted its stake in Eos Energy Enterprises by 36.8% in the first 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 during the last quarter. Finally, Driehaus Capital Management LLC purchased a new position in Eos Energy Enterprises in the first quarter valued at approximately $13,456,000. Hedge funds and other 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.