Eos Energy Enterprises (NASDAQ:EOSE) Shares Up 10.2% - Still a Buy?

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

Analyst Ratings Changes

Several research analysts recently commented on EOSE shares. Stifel Nicolaus reduced their price objective on Eos Energy Enterprises from $9.00 to $8.50 and set a "buy" rating for the company in a research note on Monday. Guggenheim reduced their price objective on Eos Energy Enterprises from $7.00 to $6.00 and set a "buy" rating for the company in a research note on Monday, June 2nd. Cowen reissued a "hold" rating on shares of Eos Energy Enterprises in a research note on Friday, March 7th. Roth Capital downgraded Eos Energy Enterprises from a "strong-buy" rating to a "hold" rating in a research note on Thursday, February 20th. Finally, Roth Mkm downgraded Eos Energy Enterprises from a "buy" rating to a "neutral" rating and increased their price objective for the company from $4.00 to $5.00 in a research note on Thursday, February 20th. Four investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus target price of $6.50.

Eos Energy Enterprises Trading Up 3.7%

The company has a fifty day simple moving average of $5.06 and a 200-day simple moving average of $4.71. The company has a market capitalization of $946.77 million, a PE ratio of -1.73 and a beta of 1.97.

Eos Energy Enterprises (NASDAQ:EOSE - Get Free Report) last issued its earnings results on Tuesday, May 6th. The company reported ($0.20) earnings per share (EPS) for the quarter, missing the consensus estimate 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. On average, equities analysts predict that Eos Energy Enterprises, Inc. will post -2.54 EPS for the current fiscal year.

Insider Buying and Selling at Eos Energy Enterprises

In other news, CEO Joe Mastrangelo sold 270,384 shares of the stock in a transaction on Friday, May 16th. The stock was sold at an average price of $6.86, for a total transaction of $1,854,834.24. Following the completion of the transaction, the chief executive officer now directly owns 1,109,409 shares in the company, valued at approximately $7,610,545.74. This represents a 19.60% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, General Counsel Michael W. Silberman sold 100,943 shares of the stock in a transaction 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 transaction, the general counsel now owns 161,404 shares of the company's stock, valued at approximately $1,107,231.44. This represents a 38.48% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 560,356 shares of company stock worth $3,844,042 in the last three months. 3.63% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Eos Energy Enterprises

Hedge funds have recently modified their holdings of the business. Arizona State Retirement System purchased a new position in shares of Eos Energy Enterprises during the 4th quarter worth $305,000. Bank of America Corp DE grew its holdings in shares of Eos Energy Enterprises by 165.2% during the 4th quarter. Bank of America Corp DE now owns 213,256 shares of the company's stock worth $1,036,000 after purchasing an additional 132,853 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC purchased a new position in Eos Energy Enterprises during the 4th quarter valued at about $1,581,000. FourThought Financial Partners LLC purchased a new position in Eos Energy Enterprises during the 4th quarter valued at about $1,335,000. Finally, Raymond James Financial Inc. purchased a new position in Eos Energy Enterprises during the 4th quarter valued at about $315,000. 54.87% of the stock is currently owned by hedge funds and other institutional investors.

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.