Eos Energy Enterprises (NASDAQ:EOSE) Reaches New 52-Week High - Still a Buy?

Eos Energy Enterprises, Inc. (NASDAQ:EOSE - Get Free Report) reached a new 52-week high during trading on Wednesday . The company traded as high as $7.06 and last traded at $6.80, with a volume of 15192341 shares traded. The stock had previously closed at $6.33.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on the company. Guggenheim reaffirmed a "buy" rating and set a $7.00 price target on shares of Eos Energy Enterprises in a research report on Tuesday, March 18th. Roth Capital cut Eos Energy Enterprises from a "strong-buy" rating to a "hold" rating in a research note on Thursday, February 20th. Cowen restated a "hold" rating on shares of Eos Energy Enterprises in a research note on Friday, March 7th. Finally, Roth Mkm cut Eos Energy Enterprises from a "buy" rating to a "neutral" rating and boosted their target price for the company from $4.00 to $5.00 in a research note on Thursday, February 20th. Four research analysts have rated the stock with a hold rating and two have issued a buy 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 $6.00.

Eos Energy Enterprises Stock Down 1.8%

The company's fifty day moving average is $4.75 and its 200 day moving average is $4.42. The firm has a market cap of $1.58 billion, a price-to-earnings ratio of -2.90 and a beta of 2.11.

Eos Energy Enterprises (NASDAQ:EOSE - Get Free Report) last posted its quarterly earnings results on Tuesday, May 6th. The company reported ($0.20) earnings per share for the quarter, missing the consensus estimate of ($0.19) by ($0.01). The business had revenue of $10.46 million during the quarter, compared to analysts' expectations of $11.77 million. On average, equities research analysts forecast that Eos Energy Enterprises, Inc. will post -2.54 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, insider Nathan Kroeker sold 152,856 shares of Eos Energy Enterprises stock in a transaction that occurred on Friday, May 16th. The stock was sold at an average price of $6.86, for a total transaction of $1,048,592.16. Following the completion of the transaction, the insider now directly owns 403,815 shares in the company, valued at approximately $2,770,170.90. The trade was a 27.46% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CAO Sumeet Puri sold 36,173 shares of Eos Energy Enterprises stock in a transaction that occurred on Friday, May 16th. The stock was sold at an average price of $6.86, for a total value of $248,146.78. Following the transaction, the chief accounting officer now owns 95,624 shares of the company's stock, valued at $655,980.64. This represents a 27.45% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 560,356 shares of company stock valued at $3,844,042 in the last 90 days. 3.63% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in EOSE. Parkside Financial Bank & Trust bought a new position in shares of Eos Energy Enterprises during the 4th quarter worth approximately $29,000. R Squared Ltd bought a new position in shares of Eos Energy Enterprises during the 4th quarter worth approximately $31,000. KBC Group NV bought a new stake in Eos Energy Enterprises in the 1st quarter valued at $38,000. SBI Securities Co. Ltd. boosted its stake in 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 period. Finally, Elevatus Welath Management bought a new stake in Eos Energy Enterprises in the 1st quarter valued at $39,000. 54.87% of the stock is currently 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.