Eos Energy Enterprises (NASDAQ:EOSE) Stock Price Down 7.3% - Should You Sell?

Shares of Eos Energy Enterprises, Inc. (NASDAQ:EOSE - Get Free Report) fell 7.3% during trading on Tuesday . The stock traded as low as $5.72 and last traded at $5.92. 4,127,756 shares changed hands during mid-day trading, a decline of 47% from the average session volume of 7,716,492 shares. The stock had previously closed at $6.38.

Analyst Ratings Changes

Several research firms recently commented on EOSE. Roth Mkm downgraded shares of Eos Energy Enterprises from a "buy" rating to a "neutral" rating and raised their price target for the stock from $4.00 to $5.00 in a research note on Thursday, February 20th. Cowen reissued a "hold" rating on shares of Eos Energy Enterprises in a research report on Friday, March 7th. Roth Capital downgraded shares of Eos Energy Enterprises from a "strong-buy" rating to a "hold" rating in a research report on Thursday, February 20th. Finally, Guggenheim reissued a "buy" rating and set a $7.00 target price on shares of Eos Energy Enterprises in a research report on Tuesday, March 18th. Four research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus target price of $6.00.

Eos Energy Enterprises Trading Down 10.2%

The stock has a market cap of $921.74 million, a PE ratio of -1.68 and a beta of 2.11. The business's 50-day moving average price is $5.06 and its 200-day moving average price is $4.62.

Eos Energy Enterprises (NASDAQ:EOSE - Get Free Report) last posted its quarterly earnings data on Tuesday, May 6th. The company reported ($0.20) EPS 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 analysts' expectations of $11.77 million. As a group, analysts predict that Eos Energy Enterprises, Inc. will post -2.54 earnings per share for the current year.

Insider Buying and Selling

In other Eos Energy Enterprises news, insider Nathan Kroeker sold 152,856 shares of the business's 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 sale, the insider now owns 403,815 shares of the company's stock, valued at approximately $2,770,170.90. The trade was a 27.46% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Joe Mastrangelo sold 270,384 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 $1,854,834.24. Following the sale, 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 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 90 days. 3.63% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Eos Energy Enterprises

Hedge funds have recently added to or reduced their stakes in the business. Parkside Financial Bank & Trust acquired a new position in shares of Eos Energy Enterprises in the 4th quarter valued at about $29,000. R Squared Ltd acquired a new position in Eos Energy Enterprises in the fourth quarter valued at approximately $31,000. KBC Group NV acquired a new position in Eos Energy Enterprises in the first quarter valued at approximately $38,000. SBI Securities Co. Ltd. boosted its position in Eos Energy Enterprises by 588.0% in the 1st quarter. SBI Securities Co. Ltd. now owns 10,065 shares of the company's stock worth $38,000 after purchasing an additional 8,602 shares in the last quarter. Finally, Elevatus Welath Management purchased a new position in shares of Eos Energy Enterprises during the 1st quarter valued at approximately $39,000. 54.87% of the stock is owned by hedge funds and other institutional investors.

About Eos Energy Enterprises

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.