Eos Energy Enterprises (NASDAQ:EOSE) Shares Down 4.2% - Should You Sell?

Key Points

• Big earnings miss: Eos reported Q (Nov 5) EPS of ($2.77) vs. a consensus ($0.31) and revenue of $30.5M vs. $39.6M expected, and the stock traded down about 4.2% to roughly $12.35 during the session.
• Mixed analyst view with low upside: The consensus rating is "Hold" (2 Buys, 7 Holds, 2 Sells) with an average price target of $12.44, leaving little analyst conviction above the current share price.
• Notable insider selling: Company insiders sold 816,134 shares worth about $12.26M in the last quarter (including recent director sales), with insiders now owning 3.30% of the stock.

Shares of Eos Energy Enterprises, Inc. (NASDAQ:EOSE - Get Free Report) traded down 4.2% during mid-day trading on Tuesday . The company traded as low as $12.36 and last traded at $12.3480. 927,831 shares changed hands during trading, a decline of 94% from the average session volume of 14,285,409 shares. The stock had previously closed at $12.89.

Analyst Upgrades and Downgrades

EOSE has been the topic of a number of research reports. B. Riley boosted their target price on shares of Eos Energy Enterprises from $8.00 to $12.00 and gave the stock a "neutral" rating in a research note on Tuesday, November 11th. Roth Capital set a $12.00 price objective on Eos Energy Enterprises and gave the company a "neutral" rating in a report on Wednesday, October 22nd. Zacks Research lowered Eos Energy Enterprises from a "hold" rating to a "strong sell" rating in a research report on Wednesday, October 29th. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Eos Energy Enterprises in a report on Wednesday, October 8th. Finally, Wall Street Zen lowered Eos Energy Enterprises from a "hold" rating to a "sell" rating in a research note on Saturday, November 8th. Two investment analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat.com, Eos Energy Enterprises has a consensus rating of "Hold" and an average price target of $12.44.

Eos Energy Enterprises Stock Down 6.5%

The stock's 50-day simple moving average is $14.78 and its 200 day simple moving average is $9.77. The firm has a market cap of $3.47 billion, a P/E ratio of -1.45 and a beta of 2.15.

Eos Energy Enterprises (NASDAQ:EOSE - Get Free Report) last announced its earnings results on Wednesday, November 5th. The company reported ($2.77) EPS for the quarter, missing the consensus estimate of ($0.31) by ($2.46). The company had revenue of $30.51 million during the quarter, compared to the consensus estimate of $39.55 million. On average, research analysts forecast that Eos Energy Enterprises, Inc. will post -2.54 earnings per share for the current fiscal year.

Insider Buying and Selling at Eos Energy Enterprises

In other news, Director Russell Monoki Stidolph sold 29,999 shares of the company's stock in a transaction dated Monday, December 8th. The shares were sold at an average price of $15.36, for a total transaction of $460,784.64. Following the transaction, the director owned 2,123,273 shares in the company, valued at approximately $32,613,473.28. This represents a 1.39% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Marian Walters sold 50,000 shares of the company's stock in a transaction that occurred on Thursday, December 4th. The stock was sold at an average price of $15.81, for a total value of $790,500.00. Following the transaction, the director directly owned 135,334 shares in the company, valued at approximately $2,139,630.54. This trade represents a 26.98% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 816,134 shares of company stock valued at $12,262,335 in the last quarter. 3.30% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Eos Energy Enterprises

A number of institutional investors have recently modified their holdings of the company. Chung Wu Investment Group LLC acquired a new stake in Eos Energy Enterprises in the 3rd quarter valued at $30,000. Farther Finance Advisors LLC lifted its stake in shares of Eos Energy Enterprises by 33.0% in the third quarter. Farther Finance Advisors LLC now owns 3,325 shares of the company's stock valued at $38,000 after buying an additional 825 shares in the last quarter. Amalgamated Bank acquired a new position in shares of Eos Energy Enterprises during the second quarter valued at about $39,000. Skandinaviska Enskilda Banken AB publ bought a new stake in shares of Eos Energy Enterprises during the second quarter worth about $39,000. Finally, CWM LLC raised its holdings in shares of Eos Energy Enterprises by 162.9% in the 3rd quarter. CWM LLC now owns 3,994 shares of the company's stock worth $45,000 after acquiring an additional 2,475 shares during the last quarter. 54.87% of the stock is 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.

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