Eos Energy Enterprises (NASDAQ:EOSE) Shares Gap Up to $12.19

Eos Energy Enterprises, Inc. (NASDAQ:EOSE)’s stock price gapped up prior to trading on Thursday . The stock had previously closed at $12.19, but opened at $12.64. Eos Energy Enterprises shares last traded at $12.63, with a volume of 408 shares traded.

A number of equities analysts have weighed in on the company. Johnson Rice assumed coverage on Eos Energy Enterprises in a research report on Thursday, September 16th. They issued a “buy” rating and a $20.00 target price for the company. Zacks Investment Research lowered Eos Energy Enterprises from a “hold” rating to a “sell” rating in a research report on Monday, August 16th. Seaport Global Securities assumed coverage on Eos Energy Enterprises in a research report on Thursday, July 15th. They issued a “buy” rating and a $27.00 target price for the company. B. Riley boosted their target price on Eos Energy Enterprises from $21.00 to $24.00 and gave the stock a “buy” rating in a research report on Friday, October 8th. Finally, Seaport Res Ptn reissued a “buy” rating on shares of Eos Energy Enterprises in a research report on Thursday, July 15th. One equities research analyst has rated the stock with a sell rating and five have issued a buy rating to the company. According to data from MarketBeat.com, Eos Energy Enterprises currently has a consensus rating of “Buy” and an average target price of $24.00.

The firm has a market capitalization of $676.94 million, a PE ratio of -1.73 and a beta of 0.66. The company has a quick ratio of 3.55, a current ratio of 3.73 and a debt-to-equity ratio of 0.20. The stock’s fifty day simple moving average is $13.31 and its 200 day simple moving average is $15.41.

Eos Energy Enterprises (NASDAQ:EOSE) last announced its earnings results on Wednesday, August 11th. The company reported ($0.46) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.17) by ($0.29). The business had revenue of $0.61 million for the quarter, compared to analyst estimates of $2.84 million. On average, analysts predict that Eos Energy Enterprises, Inc. will post -1.8 EPS for the current year.

In other Eos Energy Enterprises news, major shareholder B. Riley Financial, Inc. sold 94,598 shares of the company’s stock in a transaction that occurred on Tuesday, August 24th. The shares were sold at an average price of $13.53, for a total transaction of $1,279,910.94. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Over the last ninety days, insiders have sold 557,635 shares of company stock valued at $7,725,095. 15.10% of the stock is owned by corporate insiders.

Several institutional investors and hedge funds have recently bought and sold shares of EOSE. Ameritas Investment Partners Inc. bought a new position in shares of Eos Energy Enterprises in the second quarter worth approximately $25,000. Itau Unibanco Holding S.A. bought a new position in shares of Eos Energy Enterprises in the second quarter worth approximately $39,000. Royal Bank of Canada boosted its position in shares of Eos Energy Enterprises by 63.4% in the second quarter. Royal Bank of Canada now owns 2,618 shares of the company’s stock worth $48,000 after purchasing an additional 1,016 shares during the period. Ionic Capital Management LLC bought a new position in shares of Eos Energy Enterprises in the second quarter worth approximately $54,000. Finally, Bank of America Corp DE boosted its position in shares of Eos Energy Enterprises by 416.3% in the second quarter. Bank of America Corp DE now owns 6,222 shares of the company’s stock worth $111,000 after purchasing an additional 5,017 shares during the period. Institutional investors and hedge funds own 46.45% of the company’s stock.

About Eos Energy Enterprises (NASDAQ:EOSE)

Eos Energy Enterprises, Inc designs, manufactures, and deploys battery storage solutions for utility, commercial and industrial, and renewable energy markets in the United States. The company offers stationary battery storage solutions. Its flagship product is the Eos Znyth DC battery system designed to meet the requirements of the grid-scale energy storage market.

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