Eos Energy Enterprises (NASDAQ:EOSE) Hits New 1-Year Low - Time to Sell?

Key Points

• Eos Energy Enterprises fell to a new 52-week low of $3.01, with the stock trading below both its 50-day and 200-day moving averages. The company has a $1.11 billion market capitalization and a highly volatile beta of 2.77.
• Analyst sentiment is mixed but leans toward a “Hold” consensus, with an average price target of $8.19. Ratings include one Strong Buy, two Buys, six Holds, and one Sell, while several firms recently lowered their targets.
• The company reported a sharp quarterly loss of $1.20 per share, missing the consensus estimate of a $0.19 loss, although revenue of $68.78 million slightly exceeded expectations. Insiders sold 776,543 shares worth about $3.1 million in the last quarter.

Eos Energy Enterprises, Inc. (NASDAQ:EOSE - Get Free Report)'s stock price reached a new 52-week low during trading on Monday. The stock traded as low as $3.01 and last traded at $3.0850, with a volume of 4800140 shares changing hands. The stock had previously closed at $3.16.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the stock. Stifel Nicolaus reduced their price objective on shares of Eos Energy Enterprises from $10.00 to $9.00 and set a "buy" rating for the company in a research note on Thursday, August 6th. B. Riley Financial cut their target price on Eos Energy Enterprises from $8.00 to $5.00 and set a "neutral" rating on the stock in a research note on Friday, August 14th. Roth Capital increased their price target on shares of Eos Energy Enterprises from $4.00 to $4.50 and gave the company a "neutral" rating in a research report on Thursday, September 10th. Truist Financial assumed coverage on shares of Eos Energy Enterprises in a research report on Monday, July 13th. They set a "buy" rating and a $7.00 target price for the company. Finally, Needham & Company LLC decreased their price objective on Eos Energy Enterprises from $11.00 to $10.00 and set a "buy" rating for the company in a report on Tuesday, September 15th. One analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock has a consensus rating of "Hold" and an average target price of $8.19.

Eos Energy Enterprises Trading Down 3.6%

The stock has a market cap of $1.11 billion, a PE ratio of -0.45 and a beta of 2.77. The business has a 50-day moving average price of $3.77 and a 200-day moving average price of $5.45.

Eos Energy Enterprises (NASDAQ:EOSE - Get Free Report) last issued its quarterly earnings results on Wednesday, August 5th. The company reported ($1.20) earnings per share for the quarter, missing analysts' consensus estimates of ($0.19) by ($1.01). The company had revenue of $68.78 million for the quarter, compared to analysts' expectations of $68.32 million. During the same quarter in the previous year, the company earned ($1.05) earnings per share. Equities analysts expect that Eos Energy Enterprises, Inc. will post -1.28 earnings per share for the current year.

Insider Transactions at Eos Energy Enterprises

In other Eos Energy Enterprises news, insider Michelle Buczkowski sold 11,469 shares of Eos Energy Enterprises stock in a transaction on Tuesday, June 30th. The shares were sold at an average price of $5.87, for a total transaction of $67,323.03. Following the sale, the insider owned 59,242 shares of the company's stock, valued at $347,750.54. The trade was a 16.22% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CAO Sumeet Puri sold 43,750 shares of the stock in a transaction dated Wednesday, September 16th. The shares were sold at an average price of $3.92, for a total transaction of $171,500.00. Following the completion of the sale, the chief accounting officer owned 280,195 shares of the company's stock, valued at $1,098,364.40. This trade represents a 13.51% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold 776,543 shares of company stock worth $3,121,182 in the last quarter. 1.73% of the stock is owned by insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Allworth Financial LP lifted its position in Eos Energy Enterprises by 198.6% during the second quarter. Allworth Financial LP now owns 4,300 shares of the company's stock worth $25,000 after buying an additional 2,860 shares in the last quarter. PNC Financial Services Group Inc. increased its stake in shares of Eos Energy Enterprises by 279.4% in the 1st quarter. PNC Financial Services Group Inc. now owns 9,577 shares of the company's stock worth $48,000 after acquiring an additional 7,053 shares during the last quarter. KFA Private Wealth Group LLC purchased a new position in shares of Eos Energy Enterprises during the 1st quarter worth $50,000. Laurel Oak Wealth Management LLC purchased a new position in shares of Eos Energy Enterprises during the 1st quarter worth $55,000. Finally, Abel Hall LLC acquired a new position in shares of Eos Energy Enterprises during the 1st quarter valued at about $56,000. 54.87% of the stock is currently owned by institutional investors and hedge funds.

Eos Energy Enterprises Company Profile

Eos Energy Enterprises, Inc develops and manufactures long-duration energy storage systems designed to support the reliability and flexibility of electric grids. Its technology is based on aqueous zinc battery chemistry, which is intended to provide a non-flammable alternative to conventional lithium-ion batteries for stationary storage applications.

The company's primary product platform is the Eos Z3, a modular battery system designed for utility-scale and other large-scale energy storage projects.

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