Eos Energy Enterprises (NASDAQ:EOSE) Stock Price Down 6.6% - Should You Sell?

Eos Energy Enterprises, Inc. (NASDAQ:EOSE - Get Free Report)'s stock price traded down 6.6% during trading on Tuesday . The company traded as low as $4.79 and last traded at $4.81. 12,298,356 shares traded hands during trading, an increase of 28% from the average session volume of 9,614,783 shares. The stock had previously closed at $5.15.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on the company. TD Cowen raised Eos Energy Enterprises to a "hold" rating in a report on Monday, June 23rd. Guggenheim decreased their price target on Eos Energy Enterprises from $7.00 to $6.00 and set a "buy" rating on the stock in a report on Monday, June 2nd. Stifel Nicolaus decreased their price target on Eos Energy Enterprises from $9.00 to $8.50 and set a "buy" rating on the stock in a report on Monday, June 9th. Finally, Wall Street Zen lowered Eos Energy Enterprises from a "hold" rating to a "sell" rating in a research report on Saturday. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average target price of $6.50.

Eos Energy Enterprises Price Performance

The stock has a market cap of $1.08 billion, a PE ratio of -1.07 and a beta of 2.01. The stock has a 50-day moving average price of $5.12 and a two-hundred day moving average price of $4.89.

Eos Energy Enterprises (NASDAQ:EOSE - Get Free Report) last issued its quarterly earnings data on Tuesday, May 6th. The company reported ($0.20) earnings per share 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 analysts' expectations of $11.77 million. Equities research analysts expect that Eos Energy Enterprises, Inc. will post -2.54 earnings per share for the current year.

Insider Buying and Selling

In other news, General Counsel Michael W. Silberman sold 100,943 shares of the 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 owned 161,404 shares of the company's stock, valued at approximately $1,107,231.44. This represents a 38.48% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CAO Sumeet Puri sold 36,173 shares of the firm'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 $655,980.64. This trade represents a 27.45% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 758,886 shares of company stock valued at $4,827,806. Insiders own 3.63% of the company's stock.

Institutional Investors Weigh In On Eos Energy Enterprises

Institutional investors have recently made changes to their positions in the company. Legal & General Group Plc boosted its position in shares of Eos Energy Enterprises by 61,220.5% during the fourth quarter. Legal & General Group Plc now owns 4,804,461 shares of the company's stock valued at $23,350,000 after buying an additional 4,796,626 shares during the period. Driehaus Capital Management LLC purchased a new position in shares of Eos Energy Enterprises during the first quarter valued at approximately $13,456,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new position in shares of Eos Energy Enterprises during the fourth quarter valued at approximately $16,632,000. Alyeska Investment Group L.P. boosted its position in shares of Eos Energy Enterprises by 714.3% during the fourth quarter. Alyeska Investment Group L.P. now owns 1,628,500 shares of the company's stock valued at $7,915,000 after buying an additional 1,428,500 shares during the period. Finally, American Financial Group Inc. boosted its position in shares of Eos Energy Enterprises by 174.0% during the first quarter. American Financial Group Inc. now owns 1,861,930 shares of the company's stock valued at $7,038,000 after buying an additional 1,182,310 shares during the period. 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.