Eos Energy Enterprises (NASDAQ:EOSE) Shares Down 6% – Time to Sell?

Eos Energy Enterprises, Inc. (NASDAQ:EOSE) traded down 6% during mid-day trading on Tuesday . The company traded as low as $5.78 and last traded at $5.7250. 9,575,402 shares traded hands during trading, a decline of 62% from the average daily volume of 24,957,373 shares. The stock had previously closed at $6.09.

Analysts Set New Price Targets

EOSE has been the topic of several research reports. TD Cowen lifted their price objective on shares of Eos Energy Enterprises from $7.00 to $8.00 and gave the company a “hold” rating in a report on Thursday, May 14th. Zacks Research upgraded Eos Energy Enterprises from a “strong sell” rating to a “hold” rating in a report on Tuesday, April 28th. JPMorgan Chase & Co. dropped their target price on Eos Energy Enterprises from $9.00 to $6.00 and set a “neutral” rating on the stock in a research report on Thursday, April 16th. B. Riley Financial reduced their price target on Eos Energy Enterprises from $12.00 to $8.00 and set a “neutral” rating for the company in a research report on Thursday, March 5th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Eos Energy Enterprises in a research note on Tuesday, April 21st. Two equities research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, Eos Energy Enterprises currently has an average rating of “Hold” and an average target price of $10.94.

Eos Energy Enterprises Price Performance

The company has a market cap of $1.95 billion, a PE ratio of -0.87 and a beta of 2.62. The stock’s 50-day moving average is $7.32 and its 200 day moving average is $9.40.

Eos Energy Enterprises (NASDAQ:EOSE) last released its quarterly earnings results on Wednesday, May 13th. The company reported $0.12 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.22) by $0.34. The firm had revenue of $56.96 million during the quarter, compared to analysts’ expectations of $54.32 million. On average, analysts expect that Eos Energy Enterprises, Inc. will post -0.31 EPS for the current year.

Insiders Place Their Bets

In other Eos Energy Enterprises news, Director Marian Walters sold 7,681 shares of the firm’s stock in a transaction dated Tuesday, May 19th. The stock was sold at an average price of $7.07, for a total value 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 ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 1.73% of the company’s stock.

Institutional Trading of Eos Energy Enterprises

A number of institutional investors have recently bought and sold shares of the stock. Inspire Investing LLC increased its stake in shares of Eos Energy Enterprises by 2.2% in the fourth quarter. Inspire Investing LLC now owns 41,442 shares of the company’s stock worth $475,000 after acquiring an additional 882 shares during the period. Towarzystwo Funduszy Inwestycyjnych PZU SA boosted its holdings in Eos Energy Enterprises by 58.8% in the fourth quarter. Towarzystwo Funduszy Inwestycyjnych PZU SA now owns 2,700 shares of the company’s stock valued at $31,000 after purchasing an additional 1,000 shares during the last quarter. GAMMA Investing LLC grew 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 purchasing an additional 1,036 shares during the period. Diversify Advisory Services LLC raised its stake in shares of Eos Energy Enterprises by 6.5% during the 3rd quarter. Diversify Advisory Services LLC now owns 17,124 shares of the company’s stock valued at $195,000 after buying an additional 1,049 shares during the last quarter. Finally, Caitong International Asset Management Co. Ltd lifted its holdings in shares of Eos Energy Enterprises by 33.1% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 5,732 shares of the company’s stock valued at $66,000 after buying an additional 1,425 shares during the period. 54.87% of the stock is currently owned by institutional investors and hedge funds.

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.