Eos Energy Enterprises (NASDAQ:EOSE) Shares Gap Up - Still a Buy?

Key Points

• Shares gapped up — the stock opened at $4.95 versus a $4.59 close and was last at $5.4280 (about a 22.1% intraday rise) on roughly 16.2 million shares traded.
• Analyst and fundamental concerns: MarketBeat shows an average rating of "Reduce" (avg. target $12.07), and the company reported a sizable earnings and revenue miss (EPS -$0.84 vs. -$0.20 est.; revenue $58M vs. $93.36M), with FY EPS expected around -2.54.
• Insiders bought stock recently — Director David Urban bought 16,250 shares at $6.16 and CEO Joe Mastrangelo bought 23,900 shares at $6.58; insiders own 3.30% while institutional holders own 54.87%.

Shares of Eos Energy Enterprises, Inc. (NASDAQ:EOSE - Get Free Report) gapped up prior to trading on Thursday . The stock had previously closed at $4.59, but opened at $4.95. Eos Energy Enterprises shares last traded at $5.4280, with a volume of 16,226,919 shares changing hands.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on EOSE. Zacks Research cut Eos Energy Enterprises from a "hold" rating to a "strong sell" rating in a research report on Monday, March 9th. JPMorgan Chase & Co. assumed coverage on Eos Energy Enterprises in a research report on Wednesday, December 17th. They set a "neutral" rating and a $16.00 target price on the stock. Guggenheim reiterated a "neutral" rating and set a $20.00 target price on shares of Eos Energy Enterprises in a research report on Friday, February 27th. B. Riley Financial dropped their target price on Eos Energy Enterprises from $12.00 to $8.00 and set a "neutral" rating on the stock in a research report on Thursday, March 5th. Finally, Weiss Ratings restated a "sell (d-)" rating on shares of Eos Energy Enterprises in a report on Thursday, January 22nd. One investment analyst has rated the stock with a Buy rating, six have assigned a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Reduce" and an average price target of $12.07.

Eos Energy Enterprises Trading Up 22.1%

The company has a market cap of $1.90 billion, a PE ratio of -0.80 and a beta of 2.33. The business has a 50 day simple moving average of $8.18 and a two-hundred day simple moving average of $12.20.

Eos Energy Enterprises (NASDAQ:EOSE - Get Free Report) last issued its earnings results on Thursday, February 26th. The company reported ($0.84) earnings per share for the quarter, missing the consensus estimate of ($0.20) by ($0.64). The company had revenue of $58.00 million during the quarter, compared to analyst estimates of $93.36 million. On average, equities research analysts expect 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 David Urban purchased 16,250 shares of the firm's stock in a transaction that occurred on Monday, March 9th. The stock was acquired at an average cost of $6.16 per share, for a total transaction of $100,100.00. Following the completion of the purchase, the director owned 62,471 shares of the company's stock, valued at approximately $384,821.36. This trade represents a 35.16% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Joe Mastrangelo bought 23,900 shares of the firm's stock in a transaction on Wednesday, March 4th. The stock was bought at an average price of $6.58 per share, with a total value of $157,262.00. Following the completion of the purchase, the chief executive officer owned 1,487,126 shares of the company's stock, valued at $9,785,289.08. This trade represents a 1.63% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. In the last 90 days, insiders bought 115,150 shares of company stock valued at $692,962. Company insiders own 3.30% of the company's stock.

Institutional Investors Weigh In On Eos Energy Enterprises

Hedge funds have recently made changes to their positions in the business. L.K. Benson & Company P.C. acquired a new stake in shares of Eos Energy Enterprises during the 3rd quarter valued at $887,000. Hsbc Holdings PLC raised its stake in Eos Energy Enterprises by 192.9% during the 2nd quarter. Hsbc Holdings PLC now owns 129,626 shares of the company's stock valued at $665,000 after purchasing an additional 85,371 shares during the period. DNB Asset Management AS grew its holdings in shares of Eos Energy Enterprises by 22.4% during the 3rd quarter. DNB Asset Management AS now owns 1,034,086 shares of the company's stock valued at $11,778,000 after acquiring an additional 189,039 shares in the last quarter. Park Avenue Securities LLC purchased a new position in shares of Eos Energy Enterprises during the 4th quarter valued at $4,307,000. Finally, Udine Wealth Management Inc. purchased a new position in shares of Eos Energy Enterprises during the 3rd quarter valued at $2,015,000. Institutional investors own 54.87% of the company's stock.

About Eos Energy Enterprises

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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