Eos Energy Enterprises (NASDAQ:EOSE) Stock Price Up 4.4% - What's Next?

Eos Energy Enterprises, Inc. (NASDAQ:EOSE - Get Free Report)'s share price traded up 4.4% during trading on Friday . The company traded as high as $6.27 and last traded at $6.26. 1,530,155 shares traded hands during mid-day trading, a decline of 80% from the average session volume of 7,666,556 shares. The stock had previously closed at $6.00.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the company. Guggenheim reaffirmed a "buy" rating and issued a $7.00 target price 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 research note on Friday, March 7th. Roth Mkm downgraded Eos Energy Enterprises from a "buy" rating to a "neutral" rating and raised their price objective for the stock from $4.00 to $5.00 in a research note on Thursday, February 20th. Finally, Roth Capital downgraded Eos Energy Enterprises from a "strong-buy" rating to a "hold" rating in a research note on Thursday, February 20th. Four equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company's stock. According to MarketBeat, Eos Energy Enterprises has an average rating of "Hold" and an average target price of $6.00.

Eos Energy Enterprises Stock Performance

The stock has a market capitalization of $1.36 billion, a P/E ratio of -2.49 and a beta of 2.11. The company's 50-day moving average price is $5.03 and its 200 day moving average price is $4.58.

Eos Energy Enterprises (NASDAQ:EOSE - Get Free Report) last posted its quarterly earnings results on Tuesday, May 6th. The company reported ($0.20) EPS for the quarter, missing analysts' consensus estimates of ($0.19) by ($0.01). The business had revenue of $10.46 million during the quarter, compared to analyst estimates of $11.77 million. Analysts predict that Eos Energy Enterprises, Inc. will post -2.54 earnings per share for the current year.

Insider Activity at Eos Energy Enterprises

In other Eos Energy Enterprises news, General Counsel Michael W. Silberman sold 100,943 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 $692,468.98. Following the sale, the general counsel now directly owns 161,404 shares in the company, valued at approximately $1,107,231.44. The trade was a 38.48% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Joe Mastrangelo sold 270,384 shares of Eos Energy Enterprises stock in a transaction that occurred on Friday, May 16th. The stock was sold at an average price of $6.86, for a total value of $1,854,834.24. Following the completion of the sale, the chief executive officer now directly owns 1,109,409 shares in the company, valued at approximately $7,610,545.74. The trade was a 19.60% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 560,356 shares of company stock valued at $3,844,042. 3.63% of the stock is owned by company insiders.

Institutional Trading of Eos Energy Enterprises

A number of large investors have recently added to or reduced their stakes in the company. Integrity Alliance LLC. bought a new stake in Eos Energy Enterprises in the first quarter worth $113,000. CTC Alternative Strategies Ltd. bought a new stake in shares of Eos Energy Enterprises in the 1st quarter worth about $65,000. Goldman Sachs Group Inc. increased its holdings in shares of Eos Energy Enterprises by 36.8% in the 1st quarter. Goldman Sachs Group Inc. now owns 3,900,513 shares of the company's stock worth $14,744,000 after buying an additional 1,050,128 shares during the last quarter. Millennium Management LLC increased its holdings in shares of Eos Energy Enterprises by 55.1% in the 1st quarter. Millennium Management LLC now owns 2,522,273 shares of the company's stock worth $9,534,000 after buying an additional 896,471 shares during the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in shares of Eos Energy Enterprises by 1.5% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 3,286,648 shares of the company's stock worth $12,925,000 after buying an additional 50,117 shares during the last quarter. Institutional investors own 54.87% of the company's stock.

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.