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

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

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on the company. Guggenheim reaffirmed a "buy" rating and issued a $7.00 price target on shares of Eos Energy Enterprises in a report on Tuesday, March 18th. Cowen reaffirmed a "hold" rating on shares of Eos Energy Enterprises in a report on Friday, March 7th. Roth Mkm cut Eos Energy Enterprises from a "buy" rating to a "neutral" rating and upped their price target for the stock from $4.00 to $5.00 in a report on Thursday, February 20th. Finally, Roth Capital cut Eos Energy Enterprises from a "strong-buy" rating to a "hold" rating in a report on Thursday, February 20th. Four equities research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Hold" and an average target price of $6.00.

Eos Energy Enterprises Stock Down 24.7%

The business has a 50-day moving average price of $5.06 and a 200-day moving average price of $4.60. The firm has a market capitalization of $1.03 billion, a PE ratio of -1.87 and a beta of 2.11.

Eos Energy Enterprises (NASDAQ:EOSE - Get Free Report) last issued its quarterly earnings data 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 during the quarter, compared to the consensus estimate of $11.77 million. On average, equities research analysts anticipate that Eos Energy Enterprises, Inc. will post -2.54 earnings per share for the current year.

Insiders Place Their Bets

In other news, insider Nathan Kroeker sold 152,856 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 $1,048,592.16. Following the sale, the insider now directly owns 403,815 shares in the company, valued at approximately $2,770,170.90. This trade represents a 27.46% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, General Counsel Michael W. Silberman sold 100,943 shares of the stock in a transaction on Friday, May 16th. The shares were sold at an average price of $6.86, for a total value of $692,468.98. Following the completion of the sale, the general counsel now owns 161,404 shares in the company, valued at approximately $1,107,231.44. The trade was a 38.48% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 560,356 shares of company stock worth $3,844,042 over the last ninety days. Corporate insiders own 3.63% of the company's stock.

Institutional Trading of Eos Energy Enterprises

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. WESPAC Advisors LLC raised its stake in Eos Energy Enterprises by 16.6% in the fourth quarter. WESPAC Advisors LLC now owns 12,647 shares of the company's stock valued at $61,000 after buying an additional 1,798 shares in the last quarter. Wells Fargo & Company MN grew its holdings in shares of Eos Energy Enterprises by 3.6% during the fourth quarter. Wells Fargo & Company MN now owns 62,075 shares of the company's stock worth $302,000 after purchasing an additional 2,175 shares during the last quarter. Montag A & Associates Inc. grew its holdings in shares of Eos Energy Enterprises by 21.0% during the fourth quarter. Montag A & Associates Inc. now owns 13,809 shares of the company's stock worth $67,000 after purchasing an additional 2,400 shares during the last quarter. Carmel Capital Partners LLC grew its holdings in shares of Eos Energy Enterprises by 24.5% during the first quarter. Carmel Capital Partners LLC now owns 12,450 shares of the company's stock worth $47,000 after purchasing an additional 2,450 shares during the last quarter. Finally, Meridian Wealth Management LLC grew its holdings in shares of Eos Energy Enterprises by 2.6% during the first quarter. Meridian Wealth Management LLC now owns 102,400 shares of the company's stock worth $387,000 after purchasing an additional 2,600 shares during the last quarter. 54.87% of the stock is currently owned by institutional investors and hedge funds.

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.