Eos Energy Enterprises (NASDAQ:EOSE) Stock Price Down 6.4% – Should You Sell?

Shares of Eos Energy Enterprises, Inc. (NASDAQ:EOSE) fell 6.4% during trading on Wednesday . The company traded as low as $16.61 and last traded at $16.2120. 8,121,508 shares changed hands during trading, a decline of 62% from the average session volume of 21,270,051 shares. The stock had previously closed at $17.32.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on EOSE shares. JPMorgan Chase & Co. initiated coverage on shares of Eos Energy Enterprises in a report on Wednesday, December 17th. They issued a “neutral” rating and a $16.00 price target on the stock. Weiss Ratings restated a “sell (d-)” rating on shares of Eos Energy Enterprises in a research note on Wednesday, October 8th. Zacks Research upgraded Eos Energy Enterprises from a “strong sell” rating to a “hold” rating in a report on Monday, January 12th. Stifel Nicolaus upped their target price on shares of Eos Energy Enterprises from $10.00 to $22.00 and gave the stock a “buy” rating in a research note on Wednesday, October 15th. Finally, Guggenheim raised their price objective on shares of Eos Energy Enterprises from $10.00 to $20.00 and gave the stock a “buy” rating in a report on Wednesday, October 22nd. Two investment analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, Eos Energy Enterprises presently has an average rating of “Hold” and a consensus target price of $12.44.

Eos Energy Enterprises Trading Up 1.2%

The company’s 50-day moving average is $14.04 and its two-hundred day moving average is $11.20. The stock has a market capitalization of $5.05 billion, a P/E ratio of -2.10 and a beta of 2.11.

Eos Energy Enterprises (NASDAQ:EOSE) last released its quarterly earnings results on Wednesday, November 5th. The company reported ($2.77) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.31) by ($2.46). The company had revenue of $30.51 million during the quarter, compared to analyst estimates of $39.55 million. Sell-side analysts expect that Eos Energy Enterprises, Inc. will post -2.54 EPS for the current fiscal year.

Insider Buying and Selling at Eos Energy Enterprises

In other Eos Energy Enterprises news, Director Marian Walters sold 50,000 shares of the business’s stock in a transaction dated Thursday, December 4th. The shares were sold at an average price of $15.81, for a total value of $790,500.00. Following the transaction, the director directly owned 135,334 shares in the company, valued at $2,139,630.54. The trade was a 26.98% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Russell Monoki Stidolph sold 29,999 shares of the company’s stock in a transaction on Monday, December 8th. The stock was sold at an average price of $15.36, for a total value of $460,784.64. Following the transaction, the director directly owned 2,123,273 shares in the company, valued at approximately $32,613,473.28. This represents a 1.39% decrease in their position. The SEC filing for this sale provides additional information. In the last ninety days, insiders sold 816,134 shares of company stock worth $12,262,335. 3.30% of the stock is owned by insiders.

Hedge Funds Weigh In On Eos Energy Enterprises

A number of hedge funds have recently bought and sold shares of the business. Perigon Wealth Management LLC bought a new position in shares of Eos Energy Enterprises in the 4th quarter worth $221,000. FNY Investment Advisers LLC increased its stake in shares of Eos Energy Enterprises by 27,450.0% during the 4th quarter. FNY Investment Advisers LLC now owns 3,857 shares of the company’s stock worth $44,000 after purchasing an additional 3,843 shares during the last quarter. Victory Financial Group LLC bought a new stake in shares of Eos Energy Enterprises in the fourth quarter valued at $209,000. Lodestone Wealth Management LLC bought a new stake in Eos Energy Enterprises in the 4th quarter valued at about $68,000. Finally, Allspring Global Investments Holdings LLC bought a new position in Eos Energy Enterprises in the 4th quarter worth approximately $167,000. 54.87% of the stock is owned by institutional investors.

About Eos Energy Enterprises

Eos Energy Enterprises specializes in the development and deployment of scalable, long-duration energy storage systems designed to support the integration of renewable power and enhance grid reliability. The company’s core technology centers on its proprietary zinc hybrid cathode (Znyth™) battery platform, which aims to deliver safe, low-cost, and durable performance for utility, commercial and industrial, and microgrid applications.

The company’s flagship product, the Aurora™ energy storage system, combines its Znyth™ cells with modular power conversion and controls to offer flexible capacity ranging from one to three hours of discharge duration.