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

Eos Energy Enterprises, Inc. (NASDAQ:EOSE - Get Free Report) shares gapped down prior to trading 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 changing hands.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the stock. Roth Mkm lowered shares of Eos Energy Enterprises from a "buy" rating to a "neutral" rating and upped their price target 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. Roth Capital lowered shares of Eos Energy Enterprises from a "strong-buy" rating to a "hold" rating in a research note on Thursday, February 20th. Finally, Guggenheim reiterated a "buy" rating and issued a $7.00 price target on shares of Eos Energy Enterprises in a research note on Tuesday, March 18th. Four analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of $6.00.

Eos Energy Enterprises Price Performance

The stock has a market capitalization of $921.74 million, a PE ratio of -1.68 and a beta of 2.11. The stock's 50 day simple moving average is $5.06 and its two-hundred day simple moving average is $4.62.

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 company had revenue of $10.46 million for the quarter, compared to analyst estimates of $11.77 million. As a group, equities research analysts predict that Eos Energy Enterprises, Inc. will post -2.54 earnings per share for the current fiscal year.

Insiders Place Their Bets

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

Institutional Trading of Eos Energy Enterprises

Several institutional investors have recently bought and sold shares of EOSE. R Squared Ltd purchased a new stake in shares of Eos Energy Enterprises during the 4th quarter valued at about $31,000. Stephens Inc. AR purchased a new stake in shares of Eos Energy Enterprises during the fourth quarter valued at $64,000. Vontobel Holding Ltd. bought a new stake in shares of Eos Energy Enterprises in the fourth quarter valued at about $146,000. Montag A & Associates Inc. increased its holdings in shares of Eos Energy Enterprises by 21.0% during the fourth quarter. Montag A & Associates Inc. now owns 13,809 shares of the company's stock valued at $67,000 after acquiring an additional 2,400 shares in the last quarter. Finally, WESPAC Advisors LLC increased its holdings in Eos Energy Enterprises by 16.6% in the 4th 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. 54.87% of the stock is owned by hedge funds and other institutional investors.

About Eos Energy Enterprises

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.