Eos Energy Enterprises (NASDAQ:EOSE) Sees Large Volume Increase - Time to Buy?

Eos Energy Enterprises, Inc. (NASDAQ:EOSE - Get Free Report) saw unusually-strong trading volume on Friday . Approximately 18,442,632 shares changed hands during trading, an increase of 128% from the previous session's volume of 8,074,331 shares.The stock last traded at $4.10 and had previously closed at $4.52.

Analysts Set New Price Targets

A number of equities analysts recently commented on EOSE shares. Guggenheim restated a "buy" rating and set a $7.00 target price on shares of Eos Energy Enterprises in a report on Tuesday, March 18th. Roth Mkm cut Eos Energy Enterprises from a "buy" rating to a "neutral" rating and lifted their price objective for the company from $4.00 to $5.00 in a research note on Thursday, February 20th. Cowen reiterated a "hold" rating on shares of Eos Energy Enterprises in a research note on Friday, March 7th. Finally, Roth Capital cut Eos Energy Enterprises from a "strong-buy" rating to a "hold" rating in a research note on Thursday, February 20th. Four investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Hold" and an average price target of $6.00.

Eos Energy Enterprises Trading Down 10.2%

The firm has a 50 day moving average price of $5.06 and a 200-day moving average price of $4.65. The firm has a market cap of $921.74 million, a PE ratio of -1.68 and a beta of 2.11.

Eos Energy Enterprises (NASDAQ:EOSE - Get Free Report) last issued its 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 firm had revenue of $10.46 million during the quarter, compared to analyst estimates of $11.77 million. Equities analysts forecast that Eos Energy Enterprises, Inc. will post -2.54 earnings per share for the current fiscal year.

Insider Transactions at Eos Energy Enterprises

In other Eos Energy Enterprises news, 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 transaction 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. The trade was a 27.45% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Joe Mastrangelo sold 270,384 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 $1,854,834.24. Following the transaction, the chief executive officer now directly owns 1,109,409 shares in the company, valued at approximately $7,610,545.74. This trade represents a 19.60% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 560,356 shares of company stock valued at $3,844,042. Corporate insiders own 3.63% of the company's stock.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the company. WESPAC Advisors LLC increased its position in Eos Energy Enterprises by 16.6% during the fourth quarter. WESPAC Advisors LLC now owns 12,647 shares of the company's stock worth $61,000 after buying an additional 1,798 shares during the period. Wells Fargo & Company MN increased its position in Eos Energy Enterprises by 3.6% during the fourth quarter. Wells Fargo & Company MN now owns 62,075 shares of the company's stock worth $302,000 after buying an additional 2,175 shares during the period. Montag A & Associates Inc. grew its stake in shares of Eos Energy Enterprises by 21.0% in the 4th quarter. Montag A & Associates Inc. now owns 13,809 shares of the company's stock valued at $67,000 after purchasing an additional 2,400 shares during the last quarter. Carmel Capital Partners LLC grew its stake in shares of Eos Energy Enterprises by 24.5% in the 1st quarter. Carmel Capital Partners LLC now owns 12,450 shares of the company's stock valued at $47,000 after purchasing an additional 2,450 shares during the last quarter. Finally, Meridian Wealth Management LLC grew its stake in shares of Eos Energy Enterprises by 2.6% in the 1st quarter. Meridian Wealth Management LLC now owns 102,400 shares of the company's stock valued at $387,000 after purchasing an additional 2,600 shares during the last quarter. Institutional investors and hedge funds own 54.87% of the company's stock.

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.