Eos Energy Enterprises (NASDAQ:EOSE) Shares Gap Down - Time to Sell?

Eos Energy Enterprises, Inc. (NASDAQ:EOSE - Get Free Report)'s stock price gapped down before the market opened on Thursday . The stock had previously closed at $6.00, but opened at $5.05. Eos Energy Enterprises shares last traded at $4.92, with a volume of 7,687,752 shares traded.

Analyst Upgrades and Downgrades

EOSE has been the subject of several research analyst reports. Guggenheim decreased their price target on shares of Eos Energy Enterprises from $7.00 to $6.00 and set a "buy" rating for the company in a research note on Monday. Cowen reaffirmed a "hold" rating on shares of Eos Energy Enterprises in a research report on Friday, March 7th. Roth Capital cut Eos Energy Enterprises from a "strong-buy" rating to a "hold" rating in a report on Thursday, February 20th. Finally, Roth Mkm downgraded Eos Energy Enterprises from a "buy" rating to a "neutral" rating and increased their price target for the stock from $4.00 to $5.00 in a research report on Thursday, February 20th. Four equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus price target of $5.67.

Eos Energy Enterprises Stock Down 0.8%

The stock's 50 day moving average price is $5.06 and its 200-day moving average price is $4.65. The stock has a market capitalization of $938.81 million, a P/E ratio of -1.71 and a beta of 2.11.

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

Insider Activity at Eos Energy Enterprises

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

Hedge Funds Weigh In On Eos Energy Enterprises

Large investors have recently made changes to their positions in the business. Vanguard Group Inc. grew its stake in Eos Energy Enterprises by 0.6% during the 1st quarter. Vanguard Group Inc. now owns 10,362,810 shares of the company's stock worth $39,171,000 after buying an additional 59,762 shares during the last quarter. Stifel Financial Corp boosted its holdings in Eos Energy Enterprises by 6.4% in the fourth quarter. Stifel Financial Corp now owns 4,978,078 shares of the company's stock worth $24,193,000 after acquiring an additional 297,909 shares in the last quarter. Legal & General Group Plc grew its stake in shares of Eos Energy Enterprises by 61,220.5% during the fourth quarter. Legal & General Group Plc now owns 4,804,461 shares of the company's stock worth $23,350,000 after acquiring an additional 4,796,626 shares during the last quarter. Goldman Sachs Group Inc. grew its stake in shares of Eos Energy Enterprises by 36.8% during the first quarter. Goldman Sachs Group Inc. now owns 3,900,513 shares of the company's stock worth $14,744,000 after acquiring an additional 1,050,128 shares during the last quarter. Finally, Driehaus Capital Management LLC acquired a new position in shares of Eos Energy Enterprises during the first quarter valued at about $13,456,000. 54.87% of the stock is owned by institutional investors and hedge funds.

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.