Eos Energy Enterprises (NASDAQ:EOSE) Upgraded to Hold by B. Riley

B. Riley upgraded shares of Eos Energy Enterprises (NASDAQ:EOSE) to a hold rating in a research note published on Tuesday, Zacks.com reports.

Several other research firms have also issued reports on EOSE. Stifel Nicolaus restated a buy rating and issued a $13.00 price objective on shares of Eos Energy Enterprises in a research note on Wednesday, May 15th. Evercore ISI lowered their target price on Eos Energy Enterprises from $7.00 to $3.00 and set an outperform rating on the stock in a research note on Thursday, May 16th. Guggenheim lowered their target price on Eos Energy Enterprises from $10.00 to $4.00 and set a buy rating on the stock in a research note on Thursday, March 7th. Roth Mkm lowered their target price on Eos Energy Enterprises from $6.00 to $4.50 and set a buy rating on the stock in a research note on Thursday, May 16th. Finally, TD Cowen lowered their target price on Eos Energy Enterprises from $3.00 to $2.50 and set a hold rating on the stock in a research note on Thursday, May 16th. Two research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of Moderate Buy and a consensus price target of $4.83.

Eos Energy Enterprises Price Performance

EOSE stock opened at $1.28 on Tuesday. The stock has a market capitalization of $266.41 million, a P/E ratio of -0.82 and a beta of 2.24. The business has a 50-day moving average of $0.78 and a 200-day moving average of $0.94. Eos Energy Enterprises has a fifty-two week low of $0.61 and a fifty-two week high of $5.67.

Eos Energy Enterprises (NASDAQ:EOSE) last released its earnings results on Tuesday, May 14th. The company reported ($0.23) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.24) by $0.01. The company had revenue of $6.60 million for the quarter, compared to the consensus estimate of $6.57 million. Equities analysts expect that Eos Energy Enterprises will post -0.82 EPS for the current year.

Institutional Trading of Eos Energy Enterprises

Several large investors have recently made changes to their positions in the company. B. Riley Wealth Advisors Inc. boosted its stake in Eos Energy Enterprises by 880.8% during the 3rd quarter. B. Riley Wealth Advisors Inc. now owns 275,765 shares of the company’s stock valued at $593,000 after purchasing an additional 247,650 shares during the last quarter. Evercore Wealth Management LLC boosted its stake in Eos Energy Enterprises by 31.8% during the 4th quarter. Evercore Wealth Management LLC now owns 145,000 shares of the company’s stock valued at $158,000 after purchasing an additional 35,000 shares during the last quarter. Electron Capital Partners LLC boosted its stake in Eos Energy Enterprises by 226.6% during the 4th quarter. Electron Capital Partners LLC now owns 6,958,125 shares of the company’s stock valued at $7,584,000 after purchasing an additional 4,827,586 shares during the last quarter. Black Maple Capital Management LP boosted its stake in Eos Energy Enterprises by 227.0% during the 4th quarter. Black Maple Capital Management LP now owns 151,248 shares of the company’s stock valued at $165,000 after purchasing an additional 105,000 shares during the last quarter. Finally, Invesco Ltd. boosted its stake in Eos Energy Enterprises by 23.6% during the 3rd quarter. Invesco Ltd. now owns 3,128,582 shares of the company’s stock valued at $6,726,000 after purchasing an additional 597,279 shares during the last quarter. 54.87% of the stock is currently owned by institutional investors and hedge funds.

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.