Roth Mkm Issues Pessimistic Forecast for Eos Energy Enterprises (NASDAQ:EOSE) Stock Price

Eos Energy Enterprises (NASDAQ:EOSE) had its price target decreased by investment analysts at Roth Mkm from $4.50 to $4.00 in a research report issued on Thursday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. Roth Mkm’s target price suggests a potential upside of 41.34% from the stock’s previous close.

Separately, Stifel Nicolaus restated a “buy” rating and set a $6.00 price objective on shares of Eos Energy Enterprises in a report on Wednesday, August 21st. Two analysts have rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $3.58.

Eos Energy Enterprises Stock Performance

NASDAQ EOSE traded up $0.28 during trading hours on Thursday, hitting $2.83. The company had a trading volume of 4,346,531 shares, compared to its average volume of 6,772,896. Eos Energy Enterprises has a 1-year low of $0.61 and a 1-year high of $3.66. The company has a market cap of $613.28 million, a PE ratio of -1.17 and a beta of 2.38. The business has a 50 day moving average of $2.87 and a 200-day moving average of $1.85.

Eos Energy Enterprises (NASDAQ:EOSE) last released its quarterly earnings data on Tuesday, August 6th. The company reported ($0.30) EPS for the quarter, missing analysts’ consensus estimates of ($0.19) by ($0.11). The company had revenue of $0.90 million for the quarter, compared to analysts’ expectations of $4.38 million. Sell-side analysts expect that Eos Energy Enterprises will post -0.78 earnings per share for the current fiscal year.

Insider Buying and Selling at Eos Energy Enterprises

In related news, Director Jeffrey S. Bornstein sold 30,000 shares of Eos Energy Enterprises stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $2.62, for a total value of $78,600.00. Following the sale, the director now directly owns 84,929 shares in the company, valued at $222,513.98. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other Eos Energy Enterprises news, Director Jeffrey S. Bornstein sold 30,000 shares of the company’s stock in a transaction that occurred on Thursday, September 12th. The stock was sold at an average price of $2.62, for a total value of $78,600.00. Following the completion of the sale, the director now directly owns 84,929 shares in the company, valued at $222,513.98. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Joe Mastrangelo acquired 52,800 shares of the business’s stock in a transaction dated Friday, August 9th. The stock was purchased at an average price of $1.43 per share, with a total value of $75,504.00. Following the acquisition, the chief executive officer now owns 909,793 shares of the company’s stock, valued at approximately $1,301,003.99. This trade represents a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 3.80% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Eos Energy Enterprises

A number of institutional investors and hedge funds have recently modified their holdings of EOSE. Hollencrest Capital Management boosted its stake in Eos Energy Enterprises by 1,000.0% in the 3rd quarter. Hollencrest Capital Management now owns 8,250 shares of the company’s stock worth $25,000 after purchasing an additional 7,500 shares during the period. Focused Wealth Management Inc purchased a new position in shares of Eos Energy Enterprises during the third quarter valued at $46,000. Venture Visionary Partners LLC acquired a new position in Eos Energy Enterprises during the third quarter valued at $59,000. Duncan Williams Asset Management LLC purchased a new stake in Eos Energy Enterprises in the 3rd quarter worth about $62,000. Finally, Ground Swell Capital LLC acquired a new stake in Eos Energy Enterprises during the 2nd quarter worth about $34,000. 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.