Eos Energy Enterprises (NASDAQ:EOSE) Stock Price Down 6.3% - Time to Sell?

Key Points

• Shares fell 6.3% to about $7.19 on Monday with ~18.0M shares traded (roughly 26% below average), giving the company a market cap of $2.43B and 50/200-day moving averages of $6.72/$11.78.
• Earnings and revenue missed: the company reported Q results of ($0.84) EPS vs. ($0.20) expected and revenue of $58.0M vs. $93.36M expected, with analysts forecasting about -$0.66 EPS for the current fiscal year.
• Analyst sentiment is weak: MarketBeat shows a consensus rating of "Reduce" with a $10.64 target, and several firms have cut price targets or issued sell/strong-sell views (e.g., JPMorgan to $6, B. Riley to $8).

Shares of Eos Energy Enterprises, Inc. (NASDAQ:EOSE - Get Free Report) were down 6.3% during trading on Monday . The company traded as low as $7.24 and last traded at $7.1850. Approximately 18,044,686 shares changed hands during trading, a decline of 26% from the average daily volume of 24,309,885 shares. The stock had previously closed at $7.67.

Wall Street Analysts Forecast Growth

A number of analysts have commented on EOSE shares. Guggenheim restated a "neutral" rating and set a $20.00 price target on shares of Eos Energy Enterprises in a research note on Friday, February 27th. B. Riley Financial decreased their price objective on Eos Energy Enterprises from $12.00 to $8.00 and set a "neutral" rating for the company in a report on Thursday, March 5th. Wall Street Zen lowered Eos Energy Enterprises from a "sell" rating to a "strong sell" rating in a report on Saturday, April 18th. Zacks Research lowered Eos Energy Enterprises from a "hold" rating to a "strong sell" rating in a report on Monday, March 9th. Finally, JPMorgan Chase & Co. decreased their price objective on Eos Energy Enterprises from $9.00 to $6.00 and set a "neutral" rating for the company in a report on Thursday, April 16th. One research analyst has rated the stock with a Buy rating, six have given a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Reduce" and a consensus target price of $10.64.

Eos Energy Enterprises Stock Performance

The stock has a market cap of $2.43 billion, a P/E ratio of -1.02 and a beta of 2.33. The company's 50 day moving average price is $6.72 and its 200-day moving average price is $11.78.

Eos Energy Enterprises (NASDAQ:EOSE - Get Free Report) last posted its earnings results on Thursday, February 26th. The company reported ($0.84) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.20) by ($0.64). The firm had revenue of $58.00 million for the quarter, compared to analysts' expectations of $93.36 million. On average, analysts forecast that Eos Energy Enterprises, Inc. will post -0.66 earnings per share for the current fiscal year.

Insider Activity

In other Eos Energy Enterprises news, Director David Urban bought 16,250 shares of Eos Energy Enterprises stock in a transaction dated Monday, March 9th. The stock was bought at an average cost of $6.16 per share, with a total value of $100,100.00. Following the completion of the acquisition, the director directly owned 62,471 shares in the company, valued at approximately $384,821.36. The trade was a 35.16% increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Alexander Dimitrief bought 15,000 shares of Eos Energy Enterprises stock in a transaction dated Monday, March 2nd. The stock was acquired at an average cost of $6.04 per share, with a total value of $90,600.00. Following the completion of the acquisition, the director owned 235,221 shares of the company's stock, valued at $1,420,734.84. This represents a 6.81% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders acquired a total of 115,150 shares of company stock valued at $692,962 over the last three months. Corporate insiders own 3.30% of the company's stock.

Hedge Funds Weigh In On Eos Energy Enterprises

Several institutional investors have recently modified their holdings of EOSE. Vanguard Group Inc. grew its position in Eos Energy Enterprises by 19.8% during the fourth quarter. Vanguard Group Inc. now owns 18,616,874 shares of the company's stock valued at $213,349,000 after buying an additional 3,080,012 shares during the period. Rubric Capital Management LP bought a new position in Eos Energy Enterprises during the third quarter valued at about $117,317,000. State Street Corp grew its position in Eos Energy Enterprises by 6.1% during the fourth quarter. State Street Corp now owns 7,689,841 shares of the company's stock valued at $88,126,000 after buying an additional 443,809 shares during the period. Geode Capital Management LLC grew its position in Eos Energy Enterprises by 16.1% during the fourth quarter. Geode Capital Management LLC now owns 7,205,507 shares of the company's stock valued at $82,587,000 after buying an additional 998,332 shares during the period. Finally, Goldman Sachs Group Inc. grew its position in Eos Energy Enterprises by 36.8% during the first quarter. Goldman Sachs Group Inc. now owns 3,900,513 shares of the company's stock valued at $14,744,000 after buying an additional 1,050,128 shares during the period. 54.87% of the stock is owned by institutional investors.

Eos Energy Enterprises Company Profile

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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