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

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

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on EOSE shares. Wall Street Zen cut shares of Eos Energy Enterprises from a "hold" rating to a "sell" rating in a research note on Saturday, July 5th. TD Cowen raised shares of Eos Energy Enterprises to a "hold" rating in a research note on Monday, June 23rd. Stifel Nicolaus reduced their price objective on shares of Eos Energy Enterprises from $9.00 to $8.50 and set a "buy" rating on the stock in a research note on Monday, June 9th. Finally, Guggenheim cut their price target on shares of Eos Energy Enterprises from $7.00 to $6.00 and set a "buy" rating on the stock in a research report on Monday, June 2nd. One research analyst has rated the stock with a sell rating, four have issued a hold rating and two have given a buy rating to the stock. Based on 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 business's 50-day moving average is $5.11 and its 200 day moving average is $4.89. The company has a market cap of $1.06 billion, a PE ratio of -1.05 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 the consensus estimate of ($0.19) by ($0.01). The firm had revenue of $10.46 million for the quarter, compared to analysts' expectations of $11.77 million. Equities research analysts anticipate that Eos Energy Enterprises, Inc. will post -2.54 EPS for the current fiscal year.

Insider Activity

In other Eos Energy Enterprises news, General Counsel Michael W. Silberman sold 100,943 shares of the firm's stock in a transaction dated Friday, May 16th. The shares were sold at an average price of $6.86, for a total transaction of $692,468.98. Following the transaction, the general counsel owned 161,404 shares of the company's stock, valued at approximately $1,107,231.44. This trade represents a 38.48% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Joe Mastrangelo sold 127,152 shares of Eos Energy Enterprises stock in a transaction that occurred 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 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 ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 758,886 shares of company stock worth $4,827,806. Insiders own 3.63% of the company's stock.

Institutional Investors Weigh In On Eos Energy Enterprises

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Vanguard Group Inc. increased its holdings in shares of Eos Energy Enterprises by 0.6% in the first quarter. Vanguard Group Inc. now owns 10,362,810 shares of the company's stock valued at $39,171,000 after purchasing an additional 59,762 shares during the period. Stifel Financial Corp boosted its position in Eos Energy Enterprises by 6.4% during the fourth quarter. Stifel Financial Corp now owns 4,978,078 shares of the company's stock worth $24,193,000 after purchasing an additional 297,909 shares in the last quarter. Legal & General Group Plc lifted its position in shares of Eos Energy Enterprises by 61,220.5% in the fourth quarter. Legal & General Group Plc now owns 4,804,461 shares of the company's stock valued at $23,350,000 after acquiring an additional 4,796,626 shares in the last quarter. Goldman Sachs Group Inc. increased its stake in Eos Energy Enterprises by 36.8% in the first quarter. Goldman Sachs Group Inc. now owns 3,900,513 shares of the company's stock valued at $14,744,000 after purchasing an additional 1,050,128 shares during the last quarter. Finally, Driehaus Capital Management LLC acquired a new position in Eos Energy Enterprises in the first quarter valued at $13,456,000. 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.