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

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

Analyst Ratings Changes

Several equities analysts have weighed in on the stock. Cowen restated a "hold" rating on shares of Eos Energy Enterprises in a report on Friday, March 7th. Roth Mkm downgraded shares of Eos Energy Enterprises from a "buy" rating to a "neutral" rating and lifted their price target for the stock from $4.00 to $5.00 in a report on Thursday, February 20th. Guggenheim lowered their price target on shares of Eos Energy Enterprises from $7.00 to $6.00 and set a "buy" rating for the company in a report on Monday, June 2nd. Stifel Nicolaus lowered their price target on shares of Eos Energy Enterprises from $9.00 to $8.50 and set a "buy" rating for the company in a report on Monday, June 9th. Finally, Roth Capital downgraded shares of Eos Energy Enterprises from a "strong-buy" rating to a "hold" rating in a report on Thursday, February 20th. Four 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.com, the stock presently has an average rating of "Hold" and a consensus price target of $6.50.

Eos Energy Enterprises Stock Up 3.4%

The business's fifty day moving average is $5.16 and its 200-day moving average is $4.77. The stock has a market capitalization of $1.04 billion, a PE ratio of -1.04 and a beta of 1.97.

Eos Energy Enterprises (NASDAQ:EOSE - Get Free Report) last released its earnings results on Tuesday, May 6th. The company reported ($0.20) earnings per share (EPS) for the quarter, missing analysts' consensus estimates 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, sell-side analysts anticipate that Eos Energy Enterprises, Inc. will post -2.54 EPS for the current fiscal year.

Insider Transactions at Eos Energy Enterprises

In other news, CAO Sumeet Puri sold 36,173 shares of the business's stock in a transaction on Friday, May 16th. The shares were sold at an average price of $6.86, for a total transaction of $248,146.78. Following the transaction, the chief accounting officer now directly owns 95,624 shares of the company's stock, valued at approximately $655,980.64. The trade was a 27.45% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Nathan Kroeker sold 152,856 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 $1,048,592.16. Following the transaction, the insider now directly owns 403,815 shares in the company, valued at approximately $2,770,170.90. The trade was a 27.46% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 560,356 shares of company stock valued at $3,844,042. Corporate insiders own 3.63% of the company's stock.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the company. Arizona State Retirement System acquired a new stake in Eos Energy Enterprises in the fourth quarter valued at $305,000. Bank of America Corp DE raised its holdings in Eos Energy Enterprises by 165.2% in the fourth quarter. Bank of America Corp DE now owns 213,256 shares of the company's stock valued at $1,036,000 after acquiring an additional 132,853 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC acquired a new stake in Eos Energy Enterprises in the fourth quarter valued at $1,581,000. FourThought Financial Partners LLC acquired a new stake in Eos Energy Enterprises in the fourth quarter valued at $1,335,000. Finally, Raymond James Financial Inc. acquired a new stake in Eos Energy Enterprises in the fourth quarter valued at $315,000. 54.87% of the stock is owned by institutional investors and hedge funds.

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.