Eos Energy Enterprises (NASDAQ:EOSE) Stock Price Up 8.3% – Time to Buy?

Eos Energy Enterprises, Inc. (NASDAQ:EOSE) rose 8.3% during trading on Tuesday. The company traded as high as $1.74 and last traded at $1.7550. Approximately 3,595,910 shares were traded during trading, a decline of 86% from the average daily volume of 25,946,826 shares. The stock had previously closed at $1.62.

Analyst Upgrades and Downgrades

EOSE has been the topic of several research analyst reports. Roth Capital raised 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 report on Thursday, September 10th. B. Riley Financial dropped their price target on shares of Eos Energy Enterprises from $8.00 to $5.00 and set a “neutral” rating for the company in a research report on Friday, August 14th. Wall Street Zen downgraded shares of Eos Energy Enterprises from a “sell” rating to a “strong sell” rating in a research note on Saturday, August 8th. TD Cowen upgraded shares of Eos Energy Enterprises to a “hold” rating in a report on Monday, October 5th. Finally, Needham & Company LLC lowered their price objective on shares of Eos Energy Enterprises from $10.00 to $6.00 and set a “buy” rating for the company in a research note on Monday, October 19th. One investment 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 given a Sell rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $7.69.

Eos Energy Enterprises Stock Performance

The stock has a fifty day moving average price of $3.17 and a 200-day moving average price of $6.62. The firm has a market cap of $668.25 million, a PE ratio of -0.27 and a beta of 2.88.

Eos Energy Enterprises (NASDAQ:EOSE) last posted its quarterly earnings results on Wednesday, August 5th. The company reported ($1.20) EPS for the quarter, missing the consensus estimate 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. As a group, equities analysts predict that Eos Energy Enterprises, Inc. will post -1.28 earnings per share for the current fiscal year.

Insider Activity at Eos Energy Enterprises

In related news, CAO Sumeet Puri sold 43,750 shares of the company’s stock in a transaction 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 completion of the sale, the chief accounting officer directly owned 280,195 shares of the company’s stock, valued at approximately $1,098,364.40. This represents a 13.51% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 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 Haiyan Song purchased 10,000 shares of the stock in a transaction that occurred on Friday, September 11th. The stock was bought at an average price of $3.95 per share, with a total value of $39,500.00. Following the completion of the acquisition, the director owned 10,000 shares in the company, valued at $39,500. This represents a ∞ increase in their position. The SEC filing for this purchase provides additional information. In the last 90 days, insiders have sold 327,917 shares of company stock worth $1,292,610. 1.73% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Eos Energy Enterprises

Several hedge funds have recently modified their holdings of EOSE. Apollon Wealth Management LLC acquired a new stake in Eos Energy Enterprises during the 3rd quarter valued at $61,000. Sterling Capital Management LLC lifted its holdings in Eos Energy Enterprises by 861.5% in the 3rd quarter. Sterling Capital Management LLC now owns 11,634 shares of the company’s stock worth $36,000 after buying an additional 10,424 shares in the last quarter. Inspire Investing LLC boosted its position in Eos Energy Enterprises by 73.7% in the 3rd quarter. Inspire Investing LLC now owns 205,065 shares of the company’s stock valued at $629,000 after buying an additional 87,012 shares during the last quarter. Net Worth Advisory Group boosted its position in Eos Energy Enterprises by 232.3% in the 3rd quarter. Net Worth Advisory Group now owns 49,286 shares of the company’s stock valued at $155,000 after buying an additional 34,453 shares during the last quarter. Finally, SteelPeak Wealth LLC acquired a new stake in shares of Eos Energy Enterprises during the third quarter valued at about $176,000. 54.87% of the stock is currently owned by hedge funds and other institutional investors.

Eos Energy Enterprises Company Profile

Eos Energy Enterprises, Inc develops and manufactures long-duration energy storage systems designed to help utilities, renewable energy developers, and commercial and industrial customers store electricity for use when demand is high or renewable generation is unavailable. The company’s technology is based on aqueous zinc battery chemistry, which it markets as a non-lithium alternative for stationary energy storage applications.

Eos’ product portfolio includes the Eos Z3 battery system and related generations of its zinc-based storage technology.