Eos Energy Enterprises (NASDAQ:EOSE) Shares Up 6.3% – Should You Buy?

Eos Energy Enterprises, Inc. (NASDAQ:EOSE) shares were up 6.3% on Tuesday . The stock traded as high as $4.21 and last traded at $4.3040. Approximately 2,422,234 shares traded hands during trading, a decline of 91% from the average daily volume of 25,596,498 shares. The stock had previously closed at $4.05.

Analysts Set New Price Targets

EOSE has been the topic of a number of research reports. Zacks Research upgraded shares of Eos Energy Enterprises from a “strong sell” rating to a “hold” rating in a report on Tuesday, April 28th. Roth Capital set a $4.00 price objective on Eos Energy Enterprises in a research report on Thursday. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Eos Energy Enterprises in a report on Friday, July 17th. Wall Street Zen downgraded Eos Energy Enterprises from a “sell” rating to a “strong sell” rating in a research report on Saturday. Finally, TD Cowen cut their price target on Eos Energy Enterprises from $8.00 to $4.00 and set a “hold” rating for the company in a report on Thursday. One analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, seven have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, Eos Energy Enterprises presently has a consensus rating of “Hold” and a consensus target price of $8.39.

Eos Energy Enterprises Price Performance

The business has a 50-day moving average of $5.30 and a 200-day moving average of $7.33. The company has a market capitalization of $1.44 billion, a P/E ratio of -0.62 and a beta of 2.75.

Eos Energy Enterprises (NASDAQ:EOSE) last posted its quarterly earnings data on Wednesday, August 5th. The company reported ($1.20) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.19) by ($1.01). The business had revenue of $68.78 million for the quarter, compared to analyst estimates of $68.32 million. During the same quarter last year, the business earned ($1.05) EPS. Sell-side analysts predict that Eos Energy Enterprises, Inc. will post -0.56 EPS for the current fiscal year.

Insider Activity at Eos Energy Enterprises

In other Eos Energy Enterprises news, CEO Joe Mastrangelo sold 159,154 shares of the firm’s stock in a transaction dated Monday, July 27th. The shares were sold at an average price of $3.61, for a total value of $574,545.94. Following the completion of the sale, the chief executive officer owned 1,947,586 shares of the company’s stock, valued at $7,030,785.46. This trade represents a 7.55% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Michelle Buczkowski sold 11,469 shares of the business’s stock in a transaction that occurred on Tuesday, June 30th. The shares were sold at an average price of $5.87, for a total value of $67,323.03. Following the transaction, the insider owned 59,242 shares of the company’s stock, valued at $347,750.54. This trade represents a 16.22% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold a total of 456,307 shares of company stock worth $1,882,877 in the last three months. 1.73% of the stock is owned by insiders.

Institutional Investors Weigh In On Eos Energy Enterprises

A number of institutional investors and hedge funds have recently modified their holdings of EOSE. PNC Financial Services Group Inc. grew its position in Eos Energy Enterprises by 3,843.8% in the 4th quarter. PNC Financial Services Group Inc. now owns 2,524 shares of the company’s stock valued at $29,000 after acquiring an additional 2,460 shares during the last quarter. Towarzystwo Funduszy Inwestycyjnych PZU SA lifted its position in shares of Eos Energy Enterprises by 58.8% during the fourth 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 last quarter. Danske Bank A S bought a new stake in shares of Eos Energy Enterprises during the fourth quarter worth $33,000. TD Waterhouse Canada Inc. boosted its stake in shares of Eos Energy Enterprises by 178.7% during the fourth quarter. TD Waterhouse Canada Inc. now owns 3,119 shares of the company’s stock valued at $36,000 after purchasing an additional 2,000 shares during the period. Finally, KFA Private Wealth Group LLC purchased a new stake in shares of Eos Energy Enterprises during the first quarter valued at $50,000. 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.