Eos Energy Enterprises (NASDAQ:EOSE) Trading 13% Higher - Still a Buy?

Eos Energy Enterprises, Inc. (NASDAQ:EOSE - Get Free Report) shares were up 13% during mid-day trading on Monday . The stock traded as high as $4.64 and last traded at $4.55. Approximately 3,893,943 shares traded hands during mid-day trading, a decline of 55% from the average daily volume of 8,648,029 shares. The stock had previously closed at $4.03.

Analysts Set New Price Targets

Several research analysts have weighed in on EOSE shares. Cowen reiterated a "hold" rating on shares of Eos Energy Enterprises in a research report on Friday, March 7th. Roth Mkm cut shares of Eos Energy Enterprises from a "buy" rating to a "neutral" rating and lifted their price objective for the stock from $4.00 to $5.00 in a research note on Thursday, February 20th. Roth Capital lowered shares of Eos Energy Enterprises from a "strong-buy" rating to a "hold" rating in a research report on Thursday, February 20th. 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. Finally, Stifel Nicolaus reduced their price target on Eos Energy Enterprises from $9.00 to $8.50 and set a "buy" rating on the stock 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. According to data from MarketBeat, Eos Energy Enterprises currently has a consensus rating of "Hold" and an average target price of $6.50.

Eos Energy Enterprises Stock Performance

The company has a market cap of $1.01 billion, a P/E ratio of -1.84 and a beta of 1.97. The stock's fifty day moving average price is $5.12 and its two-hundred day moving average price is $4.77.

Eos Energy Enterprises (NASDAQ:EOSE - Get Free Report) last issued its quarterly 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 firm had revenue of $10.46 million during the quarter, compared to the consensus estimate of $11.77 million. On average, equities research analysts forecast that Eos Energy Enterprises, Inc. will post -2.54 EPS for the current year.

Insider Buying and Selling at Eos Energy Enterprises

In other Eos Energy Enterprises news, CEO Joe Mastrangelo sold 270,384 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 $1,854,834.24. Following the sale, the chief executive officer now directly owns 1,109,409 shares of the company's stock, valued at $7,610,545.74. The trade was a 19.60% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Nathan Kroeker sold 152,856 shares of Eos Energy Enterprises stock in a transaction on Friday, May 16th. The stock was sold at an average price of $6.86, for a total transaction of $1,048,592.16. Following the transaction, the insider now owns 403,815 shares in the company, valued at approximately $2,770,170.90. This trade represents a 27.46% decrease in their position. 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 quarter. Corporate insiders own 3.63% of the company's stock.

Institutional Investors Weigh In On Eos Energy Enterprises

Several institutional investors and hedge funds have recently made changes to their positions in EOSE. WESPAC Advisors LLC lifted its stake in shares of Eos Energy Enterprises by 16.6% in the 4th quarter. WESPAC Advisors LLC now owns 12,647 shares of the company's stock valued at $61,000 after purchasing an additional 1,798 shares during the period. Wells Fargo & Company MN lifted its stake in Eos Energy Enterprises by 3.6% in the fourth quarter. Wells Fargo & Company MN now owns 62,075 shares of the company's stock valued at $302,000 after buying an additional 2,175 shares during the period. Montag A & Associates Inc. boosted its holdings in shares of Eos Energy Enterprises by 21.0% during the 4th quarter. Montag A & Associates Inc. now owns 13,809 shares of the company's stock worth $67,000 after buying an additional 2,400 shares in the last quarter. Carmel Capital Partners LLC grew its position in shares of Eos Energy Enterprises by 24.5% during the 1st quarter. Carmel Capital Partners LLC now owns 12,450 shares of the company's stock worth $47,000 after buying an additional 2,450 shares during the period. Finally, Meridian Wealth Management LLC boosted its stake in 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 acquiring an additional 2,600 shares in the last quarter. Institutional investors and hedge funds own 54.87% of the company's stock.

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.