Eos Energy Enterprises (NASDAQ:EOSE) Shares Up 10.2% - Time to Buy?

Shares of Eos Energy Enterprises, Inc. (NASDAQ:EOSE - Get Free Report) shot up 10.2% during mid-day trading on Monday . The stock traded as high as $4.20 and last traded at $4.23. 4,670,552 shares traded hands during trading, a decline of 45% from the average session volume of 8,527,440 shares. The stock had previously closed at $3.84.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on EOSE shares. Roth Mkm downgraded Eos Energy Enterprises from a "buy" rating to a "neutral" rating and upped their price objective 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. Guggenheim decreased their price objective on Eos Energy Enterprises from $7.00 to $6.00 and set a "buy" rating for the company in a report on Monday, June 2nd. Finally, Roth Capital downgraded shares of Eos Energy Enterprises from a "strong-buy" rating to a "hold" rating in a report on Thursday, February 20th. Four investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus target price of $5.67.

Eos Energy Enterprises Stock Up 11.3%

The company has a market capitalization of $972.95 million, a PE ratio of -1.77 and a beta of 1.97. The company has a 50-day moving average price of $5.05 and a two-hundred day moving average price of $4.71.

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 analyst estimates of $11.77 million. As a group, equities analysts anticipate that Eos Energy Enterprises, Inc. will post -2.54 EPS for the current fiscal year.

Insiders Place Their Bets

In other Eos Energy Enterprises news, insider Nathan Kroeker sold 152,856 shares of Eos Energy Enterprises 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 sale, the insider now directly owns 403,815 shares in the company, valued at $2,770,170.90. The trade was a 27.46% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CAO Sumeet Puri sold 36,173 shares of the business'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 transaction of $248,146.78. Following the completion of the transaction, the chief accounting officer now directly owns 95,624 shares of the company's stock, valued at approximately $655,980.64. This represents a 27.45% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 560,356 shares of company stock worth $3,844,042 in the last three months. 3.63% of the stock is currently owned by corporate insiders.

Institutional Trading of Eos Energy Enterprises

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Parkside Financial Bank & Trust bought a new position in Eos Energy Enterprises in the fourth quarter valued at $29,000. KBC Group NV bought a new position in shares of Eos Energy Enterprises during the 1st quarter valued at about $38,000. SBI Securities Co. Ltd. raised its holdings in shares of Eos Energy Enterprises by 588.0% during the 1st quarter. SBI Securities Co. Ltd. now owns 10,065 shares of the company's stock valued at $38,000 after buying an additional 8,602 shares in the last quarter. Elevatus Welath Management purchased a new position in shares of Eos Energy Enterprises during the 1st quarter valued at about $39,000. Finally, Parallel Advisors LLC bought a new stake in Eos Energy Enterprises in the 1st quarter worth approximately $43,000. Hedge funds and other institutional investors own 54.87% of the company's stock.

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.

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