Eos Energy Enterprises (NASDAQ:EOSE) Trading Up 10.9% – Should You Buy?

Eos Energy Enterprises, Inc. (NASDAQ:EOSE) shares were up 10.9% during mid-day trading on Wednesday . The company traded as high as $7.72 and last traded at $7.5550. Approximately 9,333,272 shares traded hands during trading, a decline of 63% from the average daily volume of 24,985,471 shares. The stock had previously closed at $6.81.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the company. B. Riley Financial dropped 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 set a $20.00 price objective on shares of Eos Energy Enterprises in a research report on Friday, February 27th. Roth Mkm dropped their price objective on Eos Energy Enterprises from $12.00 to $6.00 and set a “neutral” rating on the stock in a research report on Friday, February 27th. JPMorgan Chase & Co. dropped their price objective on Eos Energy Enterprises from $9.00 to $6.00 and set a “neutral” rating on the stock in a research report on Thursday, April 16th. Finally, Wall Street Zen downgraded Eos Energy Enterprises from a “hold” rating to a “sell” rating in a research report on Saturday. Two equities research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Eos Energy Enterprises presently has a consensus rating of “Hold” and a consensus price target of $10.94.

Eos Energy Enterprises Price Performance

The business has a 50-day moving average of $7.15 and a two-hundred day moving average of $9.88. The company has a market cap of $2.56 billion, a P/E ratio of -1.12 and a beta of 2.62.

Eos Energy Enterprises (NASDAQ:EOSE) last issued its quarterly earnings data 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 the consensus estimate of $54.32 million. Equities analysts anticipate that Eos Energy Enterprises, Inc. will post -0.31 EPS for the current fiscal year.

Insiders Place Their Bets

In other Eos Energy Enterprises news, Director Marian Walters sold 7,681 shares of the firm’s stock in a transaction dated 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 sale, the director owned 135,334 shares of the company’s stock, valued at approximately $956,811.38. This trade represents a 5.37% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 1.73% of the company’s stock.

Institutional Investors Weigh In On Eos Energy Enterprises

Institutional investors have recently added to or reduced their stakes in the business. PNC Financial Services Group Inc. boosted its holdings in Eos Energy Enterprises by 3,843.8% in the fourth quarter. PNC Financial Services Group Inc. now owns 2,524 shares of the company’s stock worth $29,000 after acquiring an additional 2,460 shares in the last quarter. Towarzystwo Funduszy Inwestycyjnych PZU SA boosted its holdings in Eos Energy Enterprises by 58.8% in the fourth quarter. Towarzystwo Funduszy Inwestycyjnych PZU SA now owns 2,700 shares of the company’s stock worth $31,000 after acquiring an additional 1,000 shares in the last quarter. Danske Bank A S acquired a new stake in Eos Energy Enterprises in the fourth quarter worth about $33,000. TD Waterhouse Canada Inc. boosted its holdings in Eos Energy Enterprises by 178.7% in the fourth quarter. TD Waterhouse Canada Inc. now owns 3,119 shares of the company’s stock worth $36,000 after acquiring an additional 2,000 shares in the last quarter. Finally, GAMMA Investing LLC boosted its holdings in Eos Energy Enterprises by 46.4% in the fourth quarter. GAMMA Investing LLC now owns 3,270 shares of the company’s stock worth $37,000 after acquiring an additional 1,036 shares in the last quarter. Institutional investors and hedge funds own 54.87% of the company’s stock.

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.