Eos Energy Enterprises (NASDAQ:EOSE) Stock Price Up 4% - Should You Buy?

Eos Energy Enterprises, Inc. (NASDAQ:EOSE - Get Free Report)'s stock price traded up 4% on Monday . The stock traded as high as $5.35 and last traded at $5.29. 2,990,902 shares changed hands during trading, a decline of 65% from the average session volume of 8,626,909 shares. The stock had previously closed at $5.08.

Analysts Set New Price Targets

Several equities analysts have commented on EOSE shares. Wall Street Zen cut Eos Energy Enterprises from a "hold" rating to a "sell" rating in a report on Saturday. TD Cowen raised Eos Energy Enterprises to a "hold" rating in a report on Monday, June 23rd. Stifel Nicolaus cut their price target on 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, 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 report on Monday, June 2nd. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, the stock has an average rating of "Hold" and an average price target of $6.50.

Eos Energy Enterprises Trading Down 7.0%

The stock has a fifty day moving average price of $5.12 and a 200-day moving average price of $4.89. The firm has a market capitalization of $1.09 billion, a price-to-earnings ratio of -1.08 and a beta of 2.01.

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

Insiders Place Their Bets

In related news, CEO Joe Mastrangelo sold 127,152 shares of the firm's stock in a transaction on Tuesday, July 8th. The stock was sold at an average price of $4.92, for a total transaction of $625,587.84. Following the completion of the sale, the chief executive officer directly owned 1,236,560 shares of the company's stock, valued at $6,083,875.20. This trade represents a 9.32% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CAO Sumeet Puri sold 36,173 shares of Eos Energy Enterprises stock in a transaction on Friday, May 16th. The shares were sold at an average price of $6.86, for a total value of $248,146.78. Following the completion of the sale, the chief accounting officer directly owned 95,624 shares of the company's stock, valued at $655,980.64. This trade represents a 27.45% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 758,886 shares of company stock valued at $4,827,806. Company insiders own 3.63% of the company's stock.

Institutional Investors Weigh In On Eos Energy Enterprises

Hedge funds and other institutional investors have recently made changes to their positions in the company. KBC Group NV acquired a new stake in shares of Eos Energy Enterprises in the 1st quarter valued at $38,000. SBI Securities Co. Ltd. increased its stake in shares of Eos Energy Enterprises by 588.0% in the 1st quarter. SBI Securities Co. Ltd. now owns 10,065 shares of the company's stock valued at $38,000 after buying an additional 8,602 shares during the period. Elevatus Welath Management acquired a new stake in shares of Eos Energy Enterprises in the 1st quarter valued at $39,000. Parallel Advisors LLC acquired a new stake in shares of Eos Energy Enterprises in the 1st quarter valued at $43,000. Finally, Carmel Capital Partners LLC increased its stake in shares of Eos Energy Enterprises by 24.5% in the 1st quarter. Carmel Capital Partners LLC now owns 12,450 shares of the company's stock valued at $47,000 after buying an additional 2,450 shares during the period. 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.