Eos Energy Enterprises (NASDAQ:EOSE) Hits New 1-Year Low – Should You Sell?

Eos Energy Enterprises, Inc. (NASDAQ:EOSE)’s share price hit a new 52-week low during trading on Thursday . The stock traded as low as $4.01 and last traded at $4.0150, with a volume of 25755231 shares. The stock had previously closed at $4.37.

Wall Street Analyst Weigh In

EOSE has been the subject of several research reports. Truist Financial assumed coverage on shares of Eos Energy Enterprises in a research report on Monday. They set a “buy” rating and a $7.00 price objective for the company. Stifel Nicolaus dropped their target price on shares of Eos Energy Enterprises from $12.00 to $10.00 and set a “buy” rating on the stock in a report on Monday, July 13th. Wall Street Zen lowered shares of Eos Energy Enterprises from a “hold” rating to a “sell” rating in a research note on Saturday, July 4th. Needham & Company LLC started coverage on shares of Eos Energy Enterprises in a research report on Friday, May 22nd. They issued a “buy” rating and a $11.00 price target on the stock. Finally, TD Cowen upped their price target on Eos Energy Enterprises from $7.00 to $8.00 and gave the company a “hold” rating in a report on Thursday, May 14th. One equities research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, seven have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, Eos Energy Enterprises presently has an average rating of “Hold” and a consensus target price of $9.17.

Eos Energy Enterprises Price Performance

The firm has a market capitalization of $1.40 billion, a PE ratio of -0.62 and a beta of 2.68. The firm has a fifty day moving average price of $6.70 and a 200 day moving average price of $8.59.

Eos Energy Enterprises (NASDAQ:EOSE) last issued its quarterly earnings results on Wednesday, May 13th. The company reported $0.12 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.22) by $0.34. The company had revenue of $56.96 million during the quarter, compared to analysts’ expectations of $54.32 million. On average, sell-side analysts expect that Eos Energy Enterprises, Inc. will post -0.3 EPS for the current year.

Insider Buying and Selling

In other news, CFO Nathan Kroeker sold 79,309 shares of Eos Energy Enterprises stock in a transaction that occurred on Tuesday, July 7th. The shares were sold at an average price of $4.68, for a total value of $371,166.12. Following the transaction, the chief financial officer directly owned 777,110 shares of the company’s stock, valued at $3,636,874.80. This trade represents a 9.26% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 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. Also, Director Marian Walters sold 7,681 shares of the company’s stock in a transaction that occurred on Tuesday, May 19th. The shares were sold at an average price of $7.07, for a total transaction 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 position. The SEC filing for this sale provides additional information. Over the last 90 days, insiders sold 157,569 shares of company stock valued at $839,328. Company insiders own 1.73% of the company’s stock.

Institutional Trading of Eos Energy Enterprises

A number of hedge funds have recently modified their holdings of EOSE. PNC Financial Services Group Inc. grew its holdings in shares of Eos Energy Enterprises by 3,843.8% during the fourth quarter. PNC Financial Services Group Inc. now owns 2,524 shares of the company’s stock valued at $29,000 after buying an additional 2,460 shares in the last quarter. Towarzystwo Funduszy Inwestycyjnych PZU SA raised its position in 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 valued at $31,000 after buying an additional 1,000 shares during the period. Danske Bank A S purchased a new stake in Eos Energy Enterprises in the 4th quarter worth about $33,000. TD Waterhouse Canada Inc. lifted its stake in Eos Energy Enterprises by 178.7% in the 4th 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 position in Eos Energy Enterprises by 46.4% during the 4th quarter. GAMMA Investing LLC now owns 3,270 shares of the company’s stock worth $37,000 after acquiring an additional 1,036 shares during the period. Hedge funds and other institutional investors own 54.87% of the company’s stock.

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.