Eos Energy Enterprises (NASDAQ:EOSE) Stock Price Down 5.4% – Time to Sell?

Eos Energy Enterprises, Inc. (NASDAQ:EOSE) traded down 5.4% during mid-day trading on Wednesday . The stock traded as low as $2.92 and last traded at $2.98. 4,636,863 shares changed hands during mid-day trading, a decline of 31% from the average session volume of 6,741,039 shares. The stock had previously closed at $3.15.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the stock. B. Riley raised shares of Eos Energy Enterprises to a “hold” rating in a research report on Tuesday, June 25th. Roth Mkm reaffirmed a “buy” rating and issued a $4.50 price target on shares of Eos Energy Enterprises in a report on Friday, June 28th. Finally, Stifel Nicolaus reiterated a “buy” rating and issued a $6.00 price objective on shares of Eos Energy Enterprises in a research report on Wednesday, August 21st. Two equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $3.67.

Eos Energy Enterprises Price Performance

The business’s 50 day simple moving average is $2.39 and its 200 day simple moving average is $1.55. The stock has a market cap of $680.47 million, a P/E ratio of -4.55 and a beta of 2.40.

Eos Energy Enterprises (NASDAQ:EOSE) last posted its earnings results on Tuesday, August 6th. The company reported ($0.30) EPS for the quarter, missing the consensus estimate of ($0.19) by ($0.11). The company had revenue of $0.90 million during the quarter, compared to analyst estimates of $4.38 million. Research analysts predict that Eos Energy Enterprises, Inc. will post -0.78 earnings per share for the current year.

Insider Buying and Selling at Eos Energy Enterprises

In other news, CEO Joe Mastrangelo purchased 52,800 shares of Eos Energy Enterprises stock in a transaction on Friday, August 9th. The shares were purchased at an average cost of $1.43 per share, for a total transaction of $75,504.00. Following the completion of the transaction, the chief executive officer now directly owns 909,793 shares in the company, valued at approximately $1,301,003.99. This represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other Eos Energy Enterprises news, CEO Joe Mastrangelo acquired 52,800 shares of the business’s stock in a transaction on Friday, August 9th. The stock was purchased at an average price of $1.43 per share, for a total transaction of $75,504.00. Following the transaction, the chief executive officer now owns 909,793 shares in the company, valued at $1,301,003.99. This trade represents a 0.00 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Jeffrey S. Bornstein sold 30,000 shares of the business’s stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $2.62, for a total value of $78,600.00. Following the completion of the transaction, the director now directly owns 84,929 shares in the company, valued at approximately $222,513.98. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 3.80% of the company’s stock.

Hedge Funds Weigh In On Eos Energy Enterprises

A number of institutional investors have recently modified their holdings of the stock. Price T Rowe Associates Inc. MD grew its stake in shares of Eos Energy Enterprises by 74.4% during the first quarter. Price T Rowe Associates Inc. MD now owns 43,930 shares of the company’s stock valued at $46,000 after purchasing an additional 18,735 shares during the last quarter. Cullen Frost Bankers Inc. boosted its position in Eos Energy Enterprises by 40.0% in the 2nd quarter. Cullen Frost Bankers Inc. now owns 70,000 shares of the company’s stock valued at $89,000 after buying an additional 20,000 shares during the last quarter. Duncan Williams Asset Management LLC acquired a new stake in shares of Eos Energy Enterprises in the 3rd quarter valued at $62,000. American International Group Inc. increased its stake in shares of Eos Energy Enterprises by 41.2% in the 1st quarter. American International Group Inc. now owns 75,555 shares of the company’s stock valued at $78,000 after buying an additional 22,056 shares during the period. Finally, Powell Investment Advisors LLC raised its position in shares of Eos Energy Enterprises by 52.2% during the first quarter. Powell Investment Advisors LLC now owns 70,000 shares of the company’s stock worth $72,000 after acquiring an additional 24,000 shares during the last quarter. 54.87% of the stock is owned by institutional investors.

Eos Energy Enterprises Company Profile

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.