Shares of Eos Energy Enterprises, Inc. (NASDAQ:EOSE - Get Free Report) gapped up before the market opened on Friday . The stock had previously closed at $5.30, but opened at $5.95. Eos Energy Enterprises shares last traded at $6.18, with a volume of 13,481,918 shares changing hands.
Analyst Ratings Changes
A number of research firms have issued reports on EOSE. Wall Street Zen downgraded Eos Energy Enterprises from a "hold" rating to a "sell" rating in a research report on Saturday, July 5th. Guggenheim reduced their price objective on Eos Energy Enterprises from $7.00 to $6.00 and set a "buy" rating on the stock in a research note on Monday, June 2nd. Stifel Nicolaus reduced their price objective on Eos Energy Enterprises from $9.00 to $8.50 and set a "buy" rating on the stock in a research note on Monday, June 9th. Finally, TD Cowen upgraded Eos Energy Enterprises to a "hold" rating in a research note on Monday, June 23rd. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and two have given a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of "Hold" and an average price target of $6.50.
Read Our Latest Research Report on Eos Energy Enterprises
Eos Energy Enterprises Price Performance
The stock has a market capitalization of $1.34 billion, a P/E ratio of -1.33 and a beta of 2.01. The company has a fifty day moving average of $5.04 and a two-hundred day moving average of $4.90.
Eos Energy Enterprises (NASDAQ:EOSE - Get Free Report) last posted its earnings results on Tuesday, May 6th. The company reported ($0.20) EPS 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 the consensus estimate of $11.77 million. As a group, equities research analysts predict that Eos Energy Enterprises, Inc. will post -2.54 EPS for the current fiscal year.
Insider Transactions at Eos Energy Enterprises
In other Eos Energy Enterprises news, General Counsel Michael W. Silberman sold 100,943 shares of the company's 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 $692,468.98. Following the completion of the sale, the general counsel directly owned 161,404 shares in the company, valued at $1,107,231.44. This represents a 38.48% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Nathan Kroeker sold 47,254 shares of the company's stock in a transaction that occurred on Tuesday, July 8th. The stock was sold at an average price of $4.92, for a total value of $232,489.68. Following the completion of the sale, the chief financial officer owned 491,054 shares of the company's stock, valued at $2,415,985.68. This trade represents a 8.78% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 758,886 shares of company stock valued at $4,827,806. 3.63% of the stock is currently owned by company insiders.
Institutional Investors Weigh In On Eos Energy Enterprises
A number of institutional investors and hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. lifted its position in shares of Eos Energy Enterprises by 0.6% during the 1st quarter. Vanguard Group Inc. now owns 10,362,810 shares of the company's stock valued at $39,171,000 after acquiring an additional 59,762 shares during the last quarter. Stifel Financial Corp lifted its position in shares of Eos Energy Enterprises by 6.4% during the 4th quarter. Stifel Financial Corp now owns 4,978,078 shares of the company's stock valued at $24,193,000 after acquiring an additional 297,909 shares during the last quarter. Legal & General Group Plc raised its stake in Eos Energy Enterprises by 61,220.5% during the 4th quarter. Legal & General Group Plc now owns 4,804,461 shares of the company's stock valued at $23,350,000 after purchasing an additional 4,796,626 shares during the period. Goldman Sachs Group Inc. raised its stake in Eos Energy Enterprises by 36.8% during the 1st quarter. Goldman Sachs Group Inc. now owns 3,900,513 shares of the company's stock valued at $14,744,000 after purchasing an additional 1,050,128 shares during the period. Finally, Driehaus Capital Management LLC acquired a new stake in Eos Energy Enterprises during the 1st quarter valued at $13,456,000. Institutional investors and hedge funds own 54.87% of the company's stock.
Eos Energy Enterprises Company Profile
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Get Free Report)
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.
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