Eos Energy Enterprises (NASDAQ:EOSE) Upgraded at TD Cowen

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

Several other equities analysts also recently weighed in on the company. Guggenheim dropped their price objective on 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. Cowen reaffirmed a “hold” rating on shares of Eos Energy Enterprises in a research note on Friday, March 7th. Finally, Stifel Nicolaus dropped their price objective on 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. Four research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, Eos Energy Enterprises has an average rating of “Hold” and a consensus price target of $6.50.

Eos Energy Enterprises Price Performance

NASDAQ EOSE opened at $4.21 on Monday. Eos Energy Enterprises has a 1-year low of $1.15 and a 1-year high of $7.36. The company has a market capitalization of $958.15 million, a P/E ratio of -0.95 and a beta of 1.97. The business has a 50 day moving average price of $5.13 and a 200 day moving average price of $4.81.

Eos Energy Enterprises (NASDAQ:EOSE) last released its quarterly earnings data on Tuesday, May 6th. The company reported ($0.20) earnings per share for the quarter, missing the consensus estimate of ($0.19) by ($0.01). The company had revenue of $10.46 million during the quarter, compared to analysts’ expectations of $11.77 million. On average, research analysts expect 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 the stock in a transaction on Friday, May 16th. The stock was sold at an average price of $6.86, for a total transaction of $1,854,834.24. Following the sale, the chief executive officer now owns 1,109,409 shares in the company, valued at approximately $7,610,545.74. This represents a 19.60% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, General Counsel Michael W. Silberman sold 100,943 shares of the stock in a transaction on Friday, May 16th. The shares were sold at an average price of $6.86, for a total value of $692,468.98. Following the sale, the general counsel now owns 161,404 shares in the company, valued at approximately $1,107,231.44. This trade represents a 38.48% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 560,356 shares of company stock worth $3,844,042. 3.63% of the stock is owned by insiders.

Institutional Investors Weigh In On Eos Energy Enterprises

Several hedge funds have recently made changes to their positions in the business. Wells Fargo & Company MN boosted its holdings in shares of Eos Energy Enterprises by 3.6% during the fourth quarter. Wells Fargo & Company MN now owns 62,075 shares of the company’s stock worth $302,000 after purchasing an additional 2,175 shares during the last quarter. Carmel Capital Partners LLC boosted its holdings in shares of Eos Energy Enterprises by 24.5% during the first quarter. Carmel Capital Partners LLC now owns 12,450 shares of the company’s stock worth $47,000 after purchasing an additional 2,450 shares during the last quarter. Meridian Wealth Management LLC boosted its holdings in shares of Eos Energy Enterprises by 2.6% during the first quarter. Meridian Wealth Management LLC now owns 102,400 shares of the company’s stock worth $387,000 after purchasing an additional 2,600 shares during the last quarter. Landscape Capital Management L.L.C. boosted its holdings in shares of Eos Energy Enterprises by 5.8% during the first quarter. Landscape Capital Management L.L.C. now owns 54,711 shares of the company’s stock worth $207,000 after purchasing an additional 2,980 shares during the last quarter. Finally, Cambridge Investment Research Advisors Inc. boosted its holdings in shares of Eos Energy Enterprises by 16.9% during the first quarter. Cambridge Investment Research Advisors Inc. now owns 33,053 shares of the company’s stock worth $125,000 after purchasing an additional 4,767 shares during the last quarter. Institutional investors and hedge funds 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.