Eos Energy Enterprises (NASDAQ:EOSE) Reaches New 12-Month High – Still a Buy?

Shares of Eos Energy Enterprises, Inc. (NASDAQ:EOSE) hit a new 52-week high during mid-day trading on Monday . The company traded as high as $19.20 and last traded at $18.6150, with a volume of 9157393 shares changing hands. The stock had previously closed at $18.26.

Analysts Set New Price Targets

A number of research firms recently weighed in on EOSE. TD Cowen boosted their target price on Eos Energy Enterprises from $5.50 to $6.00 and gave the stock a “hold” rating in a report on Friday, August 1st. B. Riley upped their price target on shares of Eos Energy Enterprises from $5.00 to $8.00 and gave the stock a “neutral” rating in a report on Tuesday, September 30th. Zacks Research lowered shares of Eos Energy Enterprises from a “hold” rating to a “strong sell” rating in a report on Wednesday, October 29th. Roth Capital set a $12.00 price target on shares of Eos Energy Enterprises and gave the stock a “neutral” rating in a report on Wednesday, October 22nd. Finally, Jefferies Financial Group initiated coverage on Eos Energy Enterprises in a report on Friday, September 5th. They issued a “hold” rating and a $6.50 price objective for the company. Two investment analysts have rated the stock with a Buy rating, six have issued a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $11.36.

Eos Energy Enterprises Stock Up 7.4%

The company has a 50-day moving average of $12.23 and a 200-day moving average of $7.87. The company has a market cap of $5.10 billion, a PE ratio of -2.34 and a beta of 2.32.

Insider Activity at Eos Energy Enterprises

In other Eos Energy Enterprises news, Director Marian Walters sold 50,000 shares of the business’s stock in a transaction on Wednesday, September 3rd. The shares were sold at an average price of $7.90, for a total transaction of $395,000.00. Following the sale, the director owned 133,794 shares of the company’s stock, valued at $1,056,972.60. The trade was a 27.20% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CAO Sumeet Puri sold 40,501 shares of the stock in a transaction that occurred on Monday, September 8th. The stock was sold at an average price of $7.11, for a total transaction of $287,962.11. Following the completion of the sale, the chief accounting officer owned 164,290 shares in the company, valued at $1,168,101.90. This represents a 19.78% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Corporate insiders own 3.30% of the company’s stock.

Institutional Investors Weigh In On Eos Energy Enterprises

Several institutional investors have recently bought and sold shares of EOSE. Chung Wu Investment Group LLC acquired a new stake in Eos Energy Enterprises in the third quarter valued at approximately $30,000. SBI Securities Co. Ltd. increased its position in shares of Eos Energy Enterprises by 588.0% in the 1st quarter. SBI Securities Co. Ltd. now owns 10,065 shares of the company’s stock valued at $38,000 after purchasing an additional 8,602 shares during the last quarter. Farther Finance Advisors LLC raised its holdings in shares of Eos Energy Enterprises by 33.0% in the 3rd quarter. Farther Finance Advisors LLC now owns 3,325 shares of the company’s stock valued at $38,000 after purchasing an additional 825 shares in the last quarter. Elevatus Welath Management purchased a new stake in shares of Eos Energy Enterprises during the 1st quarter worth $39,000. Finally, Amalgamated Bank purchased a new position in Eos Energy Enterprises in the second quarter valued at $39,000. 54.87% of the stock is currently owned by hedge funds and other institutional investors.

About Eos Energy Enterprises

Eos Energy Enterprises, Inc designs, manufactures, and markets zinc-based energy storage solutions for utility-scale, microgrid, and commercial and industrial (C&I) applications in the United States. The company offers Znyth technology battery energy storage system (BESS), which provides the operating flexibility to manage increased grid complexity and price volatility.