Eos Energy Enterprises (NASDAQ:EOSE) Hits New 12-Month Low – What’s Next?

Shares of Eos Energy Enterprises, Inc. (NASDAQ:EOSE) hit a new 52-week low during trading on Monday. The company traded as low as $3.01 and last traded at $3.0850, with a volume of 4800140 shares traded. The stock had previously closed at $3.16.

Analyst Ratings Changes

Several analysts have recently commented on EOSE shares. Stifel Nicolaus reduced their price target on shares of Eos Energy Enterprises from $10.00 to $9.00 and set a “buy” rating on the stock in a research report on Thursday, August 6th. Weiss Ratings restated a “sell (d-)” rating on shares of Eos Energy Enterprises in a research report on Friday, July 17th. Truist Financial began coverage on shares of Eos Energy Enterprises in a report on Monday, July 13th. They issued a “buy” rating and a $7.00 price objective on the stock. Roth Capital increased their target price on shares of Eos Energy Enterprises from $4.00 to $4.50 and gave the stock a “neutral” rating in a research note on Thursday, September 10th. Finally, TD Cowen lowered their price objective on shares of Eos Energy Enterprises from $8.00 to $4.00 and set a “hold” rating for the company in a research report on Thursday, August 6th. One equities research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $8.19.

Eos Energy Enterprises Trading Down 3.6%

The company has a fifty day simple moving average of $3.77 and a two-hundred day simple moving average of $5.45. The company has a market cap of $1.11 billion, a PE ratio of -0.45 and a beta of 2.77.

Eos Energy Enterprises (NASDAQ:EOSE) last released its earnings results 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 company had revenue of $68.78 million for the quarter, compared to analysts’ expectations of $68.32 million. During the same quarter last year, the firm earned ($1.05) EPS. On average, research analysts anticipate that Eos Energy Enterprises, Inc. will post -1.28 EPS for the current fiscal year.

Insider Buying and Selling at Eos Energy Enterprises

In other Eos Energy Enterprises news, CAO Sumeet Puri sold 43,750 shares of the firm’s stock in a transaction that occurred on Wednesday, September 16th. The shares were sold at an average price of $3.92, for a total transaction of $171,500.00. Following the sale, the chief accounting officer owned 280,195 shares of the company’s stock, valued at approximately $1,098,364.40. This trade represents a 13.51% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through 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, insider Michael W. Silberman sold 14,998 shares of the stock in a transaction on Tuesday, June 30th. The shares were sold at an average price of $5.87, for a total transaction of $88,038.26. Following the completion of the transaction, the insider directly owned 298,277 shares in the company, valued at $1,750,885.99. This trade represents a 4.79% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 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. In the last quarter, insiders sold 776,543 shares of company stock worth $3,121,182. Corporate insiders own 1.73% of the company’s stock.

Institutional Trading of Eos Energy Enterprises

Large investors have recently made changes to their positions in the company. Sequoia Financial Advisors LLC acquired a new position in Eos Energy Enterprises during the second quarter worth approximately $117,000. Tidal Investments LLC lifted its position in Eos Energy Enterprises by 151.0% during the 2nd quarter. Tidal Investments LLC now owns 649,111 shares of the company’s stock worth $3,817,000 after acquiring an additional 390,461 shares during the period. WINTON GROUP Ltd acquired a new position in shares of Eos Energy Enterprises in the second quarter valued at approximately $920,000. Baird Financial Group Inc. raised its stake in shares of Eos Energy Enterprises by 9.4% during the second quarter. Baird Financial Group Inc. now owns 863,479 shares of the company’s stock worth $5,077,000 after purchasing an additional 74,338 shares during the last quarter. Finally, Allworth Financial LP lifted its holdings in shares of Eos Energy Enterprises by 198.6% during the second quarter. Allworth Financial LP now owns 4,300 shares of the company’s stock worth $25,000 after purchasing an additional 2,860 shares during the period. 54.87% of the stock is owned by institutional investors and hedge funds.

About Eos Energy Enterprises

Eos Energy Enterprises, Inc develops and manufactures long-duration energy storage systems designed to support the reliability and flexibility of electric grids. Its technology is based on aqueous zinc battery chemistry, which is intended to provide a non-flammable alternative to conventional lithium-ion batteries for stationary storage applications.

The company’s primary product platform is the Eos Z3, a modular battery system designed for utility-scale and other large-scale energy storage projects.