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

Eos Energy Enterprises (NASDAQ:EOSE) was upgraded by stock analysts at B. Riley to a “hold” rating in a research report issued to clients and investors on Tuesday, Zacks.com reports.

A number of other equities research analysts have also issued reports on the stock. TD Cowen dropped their target price on shares of Eos Energy Enterprises from $3.00 to $2.50 and set a “hold” rating for the company in a report on Thursday, May 16th. Stifel Nicolaus reaffirmed a “buy” rating and set a $13.00 target price on shares of Eos Energy Enterprises in a report on Wednesday, May 15th. Guggenheim dropped their target price on shares of Eos Energy Enterprises from $10.00 to $4.00 and set a “buy” rating for the company in a report on Thursday, March 7th. Roth Mkm dropped their target price on shares of Eos Energy Enterprises from $6.00 to $4.50 and set a “buy” rating for the company in a report on Thursday, May 16th. Finally, Evercore ISI dropped 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 report on Thursday, May 16th. Two equities research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, Eos Energy Enterprises currently has an average rating of “Moderate Buy” and an average target price of $4.83.

Eos Energy Enterprises Stock Performance

Shares of NASDAQ EOSE opened at $1.28 on Tuesday. The firm has a market cap of $266.41 million, a PE ratio of -0.82 and a beta of 2.24. The firm has a fifty day moving average of $0.78 and a 200 day moving average of $0.94. Eos Energy Enterprises has a one year low of $0.61 and a one year high of $5.67.

Eos Energy Enterprises (NASDAQ:EOSE) last issued its quarterly earnings results on Tuesday, May 14th. The company reported ($0.23) EPS for the quarter, topping the consensus estimate of ($0.24) by $0.01. The company had revenue of $6.60 million during the quarter, compared to analysts’ expectations of $6.57 million. On average, equities analysts predict that Eos Energy Enterprises will post -0.82 EPS for the current fiscal year.

Institutional Trading of Eos Energy Enterprises

Several hedge funds have recently made changes to their positions in the business. Price T Rowe Associates Inc. MD lifted its position in shares of Eos Energy Enterprises by 74.4% during the first quarter. Price T Rowe Associates Inc. MD now owns 43,930 shares of the company’s stock worth $46,000 after purchasing an additional 18,735 shares in the last quarter. American International Group Inc. lifted its position in shares of Eos Energy Enterprises by 41.2% during the first quarter. American International Group Inc. now owns 75,555 shares of the company’s stock worth $78,000 after purchasing an additional 22,056 shares in the last quarter. Powell Investment Advisors LLC lifted its position in shares of Eos Energy Enterprises by 52.2% during the first quarter. Powell Investment Advisors LLC now owns 70,000 shares of the company’s stock worth $72,000 after purchasing an additional 24,000 shares in the last quarter. Black Maple Capital Management LP lifted its position in shares of Eos Energy Enterprises by 19.8% during the first quarter. Black Maple Capital Management LP now owns 181,248 shares of the company’s stock worth $187,000 after purchasing an additional 30,000 shares in the last quarter. Finally, Elevatus Welath Management lifted its position in shares of Eos Energy Enterprises by 50.0% during the first quarter. Elevatus Welath Management now owns 96,267 shares of the company’s stock worth $99,000 after purchasing an additional 32,090 shares in the last quarter. Institutional investors and hedge funds own 54.87% of the company’s stock.

Eos Energy Enterprises Company Profile

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.