Eos Energy Enterprises, Inc. (NASDAQ:EOSE - Get Free Report) shares shot up 6.3% on Monday . The company traded as high as $4.80 and last traded at $4.69. 2,277,982 shares were traded during trading, a decline of 74% from the average session volume of 8,616,051 shares. The stock had previously closed at $4.41.
Analyst Upgrades and Downgrades
A number of equities analysts have recently issued reports on the company. Cowen restated a "hold" rating on shares of Eos Energy Enterprises in a research note on Friday, March 7th. Guggenheim cut their price target 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. TD Cowen upgraded shares of Eos Energy Enterprises to a "hold" rating in a research note on Monday, June 23rd. Finally, Stifel Nicolaus cut their target price on shares of Eos Energy Enterprises from $9.00 to $8.50 and set a "buy" rating for the company in a research report on Monday, June 9th. Four investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company's stock. Based on data from MarketBeat.com, Eos Energy Enterprises presently has a consensus rating of "Hold" and an average price target of $6.50.
Get Our Latest Analysis on Eos Energy Enterprises
Eos Energy Enterprises Stock Performance
The stock has a fifty day moving average of $5.14 and a 200 day moving average of $4.86. The company has a market capitalization of $1.14 billion, a PE ratio of -1.13 and a beta of 2.01.
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 the consensus estimate of ($0.19) by ($0.01). The company had revenue of $10.46 million for the quarter, compared to the consensus estimate of $11.77 million. As a group, equities analysts predict that Eos Energy Enterprises, Inc. will post -2.54 EPS for the current year.
Insider Transactions at Eos Energy Enterprises
In other Eos Energy Enterprises news, General Counsel Michael W. Silberman sold 100,943 shares of Eos Energy Enterprises 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 sale, the general counsel owned 161,404 shares of the company's stock, valued at $1,107,231.44. The trade was a 38.48% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Joe Mastrangelo sold 270,384 shares of the business's 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 sale, the chief executive officer owned 1,109,409 shares in the company, valued at $7,610,545.74. This represents a 19.60% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 560,356 shares of company stock valued at $3,844,042 in the last ninety days. Corporate insiders own 3.63% of the company's stock.
Institutional Trading of Eos Energy Enterprises
A number of large investors have recently made changes to their positions in EOSE. Legal & General Group Plc lifted its stake in shares of Eos Energy Enterprises by 61,220.5% in 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 last quarter. Driehaus Capital Management LLC bought a new stake in Eos Energy Enterprises in the first quarter worth $13,456,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new stake in Eos Energy Enterprises in the fourth quarter worth $16,632,000. Alyeska Investment Group L.P. boosted its stake in Eos Energy Enterprises by 714.3% during the fourth quarter. Alyeska Investment Group L.P. now owns 1,628,500 shares of the company's stock worth $7,915,000 after buying an additional 1,428,500 shares during the period. Finally, Barings LLC increased its position in Eos Energy Enterprises by 100.5% during the fourth quarter. Barings LLC now owns 2,403,448 shares of the company's stock valued at $11,681,000 after acquiring an additional 1,204,430 shares during the last quarter. 54.87% of the stock is currently owned by institutional investors.
About Eos Energy Enterprises
(
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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