B. Riley Wealth Advisors Inc. Reduces Stock Position in Eos Energy Enterprises, Inc. (NASDAQ:EOSE)

B. Riley Wealth Advisors Inc. lowered its holdings in shares of Eos Energy Enterprises, Inc. (NASDAQ:EOSE) by 90.4% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 26,500 shares of the company’s stock after selling 249,265 shares during the quarter. B. Riley Wealth Advisors Inc.’s holdings in Eos Energy Enterprises were worth $29,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Grimes & Company Inc. bought a new stake in Eos Energy Enterprises during the 4th quarter valued at $44,000. Powell Investment Advisors LLC raised its position in Eos Energy Enterprises by 155.6% during the 4th quarter. Powell Investment Advisors LLC now owns 46,000 shares of the company’s stock valued at $50,000 after purchasing an additional 28,000 shares in the last quarter. Elevatus Welath Management bought a new stake in Eos Energy Enterprises during the 4th quarter valued at $70,000. Daiwa Securities Group Inc. raised its position in Eos Energy Enterprises by 146.1% during the 4th quarter. Daiwa Securities Group Inc. now owns 74,387 shares of the company’s stock valued at $81,000 after purchasing an additional 44,161 shares in the last quarter. Finally, Cowen AND Company LLC bought a new stake in Eos Energy Enterprises during the 4th quarter valued at $82,000. 54.87% of the stock is owned by institutional investors.

Eos Energy Enterprises Stock Performance

Eos Energy Enterprises stock opened at $1.27 on Friday. The business’s 50-day simple moving average is $0.80 and its two-hundred day simple moving average is $0.95. The company has a market cap of $264.33 million, a PE ratio of -0.81 and a beta of 2.24. Eos Energy Enterprises, Inc. has a fifty-two week low of $0.61 and a fifty-two week high of $5.67.

Eos Energy Enterprises (NASDAQ:EOSE) last posted its quarterly earnings results on Tuesday, May 14th. The company reported ($0.23) earnings per share for the quarter, beating the consensus estimate of ($0.24) by $0.01. The firm had revenue of $6.60 million for the quarter, compared to analysts’ expectations of $6.57 million. As a group, analysts predict that Eos Energy Enterprises, Inc. will post -0.7 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several research firms have recently commented on EOSE. B. Riley raised Eos Energy Enterprises to a “hold” rating in a research report on Tuesday. TD Cowen reduced their price target on 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. Evercore ISI reduced their price target on Eos Energy Enterprises from $7.00 to $3.00 and set an “outperform” rating for the company in a research report on Thursday, May 16th. Guggenheim reduced their price target on 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. Finally, Roth Mkm reissued a “buy” rating and issued a $4.50 price target on shares of Eos Energy Enterprises in a research report on Friday. Two investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $4.83.

Eos Energy Enterprises 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.