Eos Energy Enterprises, Inc. (NASDAQ:EOSE) Short Interest Down 5.6% in May

Eos Energy Enterprises, Inc. (NASDAQ:EOSE) was the recipient of a significant decrease in short interest in May. As of May 31st, there was short interest totalling 48,000,000 shares, a decrease of 5.6% from the May 15th total of 50,870,000 shares. Based on an average daily volume of 5,290,000 shares, the short-interest ratio is presently 9.1 days.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the stock. Kestra Advisory Services LLC boosted its holdings in shares of Eos Energy Enterprises by 1,192.6% in the 3rd quarter. Kestra Advisory Services LLC now owns 298,265 shares of the company’s stock valued at $641,000 after acquiring an additional 275,190 shares during the last quarter. Invesco Ltd. boosted its holdings in shares of Eos Energy Enterprises by 23.6% in the 3rd quarter. Invesco Ltd. now owns 3,128,582 shares of the company’s stock valued at $6,726,000 after acquiring an additional 597,279 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund boosted its holdings in shares of Eos Energy Enterprises by 22.0% in the 3rd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 113,939 shares of the company’s stock valued at $245,000 after acquiring an additional 20,543 shares during the last quarter. Stifel Financial Corp boosted its holdings in shares of Eos Energy Enterprises by 503.7% in the 3rd quarter. Stifel Financial Corp now owns 930,205 shares of the company’s stock valued at $2,000,000 after acquiring an additional 776,110 shares during the last quarter. Finally, Twin Focus Capital Partners LLC purchased a new stake in shares of Eos Energy Enterprises in the 3rd quarter valued at $54,000. Institutional investors and hedge funds own 54.87% of the company’s stock.

Eos Energy Enterprises Stock Performance

NASDAQ:EOSE opened at $0.79 on Thursday. Eos Energy Enterprises has a one year low of $0.61 and a one year high of $5.67. The firm has a market cap of $164.03 million, a P/E ratio of -0.51 and a beta of 2.24. The firm has a 50-day simple moving average of $0.76 and a 200-day simple moving average of $0.95.

Eos Energy Enterprises (NASDAQ:EOSE) last posted its quarterly earnings data on Tuesday, May 14th. The company reported ($0.23) EPS for the quarter, topping the consensus estimate of ($0.24) by $0.01. The firm had revenue of $6.60 million for the quarter, compared to the consensus estimate of $6.57 million. On average, research analysts predict that Eos Energy Enterprises will post -0.79 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

EOSE has been the subject of a number of analyst reports. Evercore ISI reduced their price objective on shares of Eos Energy Enterprises from $7.00 to $3.00 and set an “outperform” rating for the company in a research note on Thursday, May 16th. Guggenheim lowered their price objective on shares of Eos Energy Enterprises from $10.00 to $4.00 and set a “buy” rating for the company in a research report on Thursday, March 7th. Roth Mkm lowered their price objective on shares of Eos Energy Enterprises from $6.00 to $4.50 and set a “buy” rating for the company in a research report on Thursday, May 16th. Stifel Nicolaus reissued a “buy” rating and issued a $13.00 price objective on shares of Eos Energy Enterprises in a research report on Wednesday, May 15th. Finally, TD Cowen lowered their price objective on shares of Eos Energy Enterprises from $3.00 to $2.50 and set a “hold” rating for the company in a research report on Thursday, May 16th. Two equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $4.83.

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.