Eos Energy Enterprises (NASDAQ:EOSE) Shares Down 4.5% - Should You Sell?

Eos Energy Enterprises, Inc. (NASDAQ:EOSE - Get Free Report)'s share price traded down 4.5% on Friday . The stock traded as low as $4.32 and last traded at $4.34. 2,900,017 shares traded hands during trading, a decline of 66% from the average session volume of 8,549,904 shares. The stock had previously closed at $4.54.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on EOSE shares. 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. Guggenheim dropped their price objective on Eos Energy Enterprises from $7.00 to $6.00 and set a "buy" rating for the company in a research report on Monday, June 2nd. Cowen restated a "hold" rating on shares of Eos Energy Enterprises in a report on Friday, March 7th. Finally, TD Cowen raised shares of Eos Energy Enterprises to a "hold" rating in a research note on Monday, June 23rd. Four investment analysts have rated the stock with a hold rating and two have issued 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 Trading Up 16.1%

The business has a 50 day simple moving average of $5.12 and a two-hundred day simple moving average of $4.85. The company has a market cap of $1.17 billion, a PE ratio of -1.16 and a beta of 1.98.

Eos Energy Enterprises (NASDAQ:EOSE - Get Free Report) last released its earnings results on Tuesday, May 6th. The company reported ($0.20) EPS for the quarter, missing the consensus estimate of ($0.19) by ($0.01). The company had revenue of $10.46 million during the quarter, compared to analysts' expectations of $11.77 million. On average, equities research analysts expect that Eos Energy Enterprises, Inc. will post -2.54 earnings per share for the current fiscal year.

Insider Activity at Eos Energy Enterprises

In other Eos Energy Enterprises news, CAO Sumeet Puri sold 36,173 shares of the business's stock in a transaction dated Friday, May 16th. The stock was sold at an average price of $6.86, for a total transaction of $248,146.78. Following the completion of the sale, the chief accounting officer owned 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 legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Joe Mastrangelo sold 270,384 shares of the company's stock in a transaction dated 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 sale, the chief executive officer owned 1,109,409 shares of the company's stock, valued at $7,610,545.74. This represents a 19.60% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 560,356 shares of company stock worth $3,844,042. 3.63% of the stock is owned by insiders.

Institutional Trading of Eos Energy Enterprises

Institutional investors have recently modified their holdings of the company. Parkside Financial Bank & Trust purchased a new position in Eos Energy Enterprises in the fourth quarter valued at approximately $29,000. KBC Group NV acquired a new stake in shares of Eos Energy Enterprises in the first quarter worth $38,000. SBI Securities Co. Ltd. raised 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 acquiring an additional 8,602 shares during the period. Elevatus Welath Management acquired a new position in shares of Eos Energy Enterprises during the 1st quarter valued at $39,000. Finally, Parallel Advisors LLC acquired a new position in shares of Eos Energy Enterprises during the 1st quarter valued at $43,000. Hedge funds and other institutional investors 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.