Short Interest in Eos Energy Enterprises, Inc. (NASDAQ:EOSE) Declines By 6.4%

Eos Energy Enterprises, Inc. (NASDAQ:EOSE) was the recipient of a significant decrease in short interest in the month of June. As of June 30th, there was short interest totalling 43,520,000 shares, a decrease of 6.4% from the June 15th total of 46,500,000 shares. Based on an average daily trading volume, of 7,590,000 shares, the short-interest ratio is currently 5.7 days.

Eos Energy Enterprises Trading Up 0.5 %

EOSE traded up $0.01 during trading on Wednesday, reaching $1.96. The stock had a trading volume of 8,758,955 shares, compared to its average volume of 6,660,275. Eos Energy Enterprises has a one year low of $0.61 and a one year high of $4.81. The company has a market capitalization of $407.93 million, a price-to-earnings ratio of -1.26 and a beta of 2.38. The stock’s 50 day moving average is $1.10 and its two-hundred day moving average is $1.01.

Eos Energy Enterprises (NASDAQ:EOSE) last released its earnings results on Tuesday, May 14th. The company reported ($0.23) EPS for the quarter, topping analysts’ consensus estimates 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 research analysts predict that Eos Energy Enterprises will post -0.7 earnings per share for the current year.

Analysts Set New Price Targets

Several brokerages have recently weighed in on EOSE. B. Riley upgraded Eos Energy Enterprises to a “hold” rating in a research report on Tuesday, June 25th. TD Cowen cut their price objective on Eos Energy Enterprises from $3.00 to $2.50 and set a “hold” rating for the company in a report on Thursday, May 16th. Roth Mkm reissued a “buy” rating and set a $4.50 price objective on shares of Eos Energy Enterprises in a report on Friday, June 28th. Stifel Nicolaus reaffirmed a “buy” rating and issued a $13.00 target price on shares of Eos Energy Enterprises in a research note on Wednesday, May 15th. Finally, Evercore ISI decreased their price objective on 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 assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $4.83.

Institutional Investors Weigh In On Eos Energy Enterprises

A number of institutional investors have recently modified their holdings of the stock. B. Riley Wealth Advisors Inc. grew its stake in shares of Eos Energy Enterprises by 940.6% in the first quarter. B. Riley Wealth Advisors Inc. now owns 275,765 shares of the company’s stock worth $284,000 after acquiring an additional 249,265 shares during the last quarter. Black Maple Capital Management LP grew its stake in shares of Eos Energy Enterprises by 19.8% in the first quarter. Black Maple Capital Management LP now owns 181,248 shares of the company’s stock worth $187,000 after acquiring an additional 30,000 shares during the last quarter. Price T Rowe Associates Inc. MD grew its stake in shares of Eos Energy Enterprises by 74.4% in the first quarter. Price T Rowe Associates Inc. MD now owns 43,930 shares of the company’s stock worth $46,000 after acquiring an additional 18,735 shares during the last quarter. PEAK6 Investments LLC purchased a new stake in shares of Eos Energy Enterprises during the first quarter valued at $103,000. Finally, American International Group Inc. boosted 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 valued at $78,000 after buying an additional 22,056 shares during the last quarter. 54.87% of the stock is owned by hedge funds and other institutional investors.

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.