Eos Energy Enterprises (NASDAQ:EOSE) Trading 8.3% Higher – Still a Buy?

Shares of Eos Energy Enterprises, Inc. (NASDAQ:EOSE) traded up 8.3% during mid-day trading on Thursday . The stock traded as high as $7.69 and last traded at $7.6980. 7,261,640 shares changed hands during mid-day trading, a decline of 71% from the average session volume of 25,374,072 shares. The stock had previously closed at $7.11.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the company. B. Riley Financial lowered their price objective on Eos Energy Enterprises from $12.00 to $8.00 and set a “neutral” rating on the stock in a research report on Thursday, March 5th. Guggenheim reaffirmed a “neutral” rating and issued a $20.00 price objective on shares of Eos Energy Enterprises in a research report on Friday, February 27th. TD Cowen upped their price objective on Eos Energy Enterprises from $7.00 to $8.00 and gave the company a “hold” rating in a research report on Thursday, May 14th. JPMorgan Chase & Co. decreased their target price on shares of Eos Energy Enterprises from $9.00 to $6.00 and set a “neutral” rating for the company in a research note on Thursday, April 16th. Finally, Wall Street Zen upgraded shares of Eos Energy Enterprises from a “strong sell” rating to a “hold” rating in a research note on Saturday, May 16th. One research analyst has rated the stock with a Buy rating, seven have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, Eos Energy Enterprises presently has an average rating of “Hold” and an average price target of $10.93.

Eos Energy Enterprises Trading Up 13.3%

The firm has a market capitalization of $2.73 billion, a PE ratio of -1.20 and a beta of 2.56. The business’s 50 day simple moving average is $6.27 and its two-hundred day simple moving average is $10.86.

Eos Energy Enterprises (NASDAQ:EOSE) last announced its earnings results on Wednesday, May 13th. The company reported $0.12 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.22) by $0.34. The company had revenue of $56.96 million for the quarter, compared to analysts’ expectations of $54.32 million. As a group, equities research analysts anticipate that Eos Energy Enterprises, Inc. will post -0.8 earnings per share for the current year.

Insider Buying and Selling

In related news, CEO Joe Mastrangelo bought 60,000 shares of the firm’s stock in a transaction that occurred on Monday, March 2nd. The shares were bought at an average cost of $5.75 per share, with a total value of $345,000.00. Following the acquisition, the chief executive officer owned 1,463,226 shares in the company, valued at $8,413,549.50. This trade represents a 4.28% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Marian Walters sold 7,681 shares of the firm’s stock in a transaction on Tuesday, May 19th. The stock was sold at an average price of $7.07, for a total value of $54,304.67. Following the completion of the transaction, the director directly owned 135,334 shares in the company, valued at approximately $956,811.38. This represents a 5.37% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders purchased a total of 115,150 shares of company stock valued at $692,962 in the last 90 days. 1.73% of the stock is owned by company insiders.

Hedge Funds Weigh In On Eos Energy Enterprises

A number of institutional investors have recently bought and sold shares of the stock. Inspire Investing LLC raised its holdings in Eos Energy Enterprises by 2.2% in the 4th quarter. Inspire Investing LLC now owns 41,442 shares of the company’s stock worth $475,000 after purchasing an additional 882 shares during the period. Towarzystwo Funduszy Inwestycyjnych PZU SA raised its holdings in Eos Energy Enterprises by 58.8% in the 4th quarter. Towarzystwo Funduszy Inwestycyjnych PZU SA now owns 2,700 shares of the company’s stock worth $31,000 after purchasing an additional 1,000 shares during the period. GAMMA Investing LLC raised its holdings in Eos Energy Enterprises by 46.4% in the 4th quarter. GAMMA Investing LLC now owns 3,270 shares of the company’s stock worth $37,000 after purchasing an additional 1,036 shares during the period. Diversify Advisory Services LLC increased its stake in Eos Energy Enterprises by 6.5% in the 3rd quarter. Diversify Advisory Services LLC now owns 17,124 shares of the company’s stock worth $195,000 after buying an additional 1,049 shares in the last quarter. Finally, Caitong International Asset Management Co. Ltd increased its stake in Eos Energy Enterprises by 33.1% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 5,732 shares of the company’s stock worth $66,000 after buying an additional 1,425 shares in the last quarter. 54.87% of the stock is owned by institutional investors.

Eos Energy Enterprises Company Profile

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.