Eos Energy Enterprises (NASDAQ:EOSE) Shares Down 6.4% – What’s Next?

Eos Energy Enterprises, Inc. (NASDAQ:EOSE) shares were down 6.4% during mid-day trading on Tuesday . The company traded as low as $12.35 and last traded at $12.3950. Approximately 8,527,085 shares were traded during mid-day trading, a decline of 61% from the average daily volume of 21,986,230 shares. The stock had previously closed at $13.24.

Analysts Set New Price Targets

Several brokerages have issued reports on EOSE. Wall Street Zen lowered Eos Energy Enterprises from a “hold” rating to a “sell” rating in a research note on Saturday, November 8th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Eos Energy Enterprises in a research note on Thursday, January 22nd. Stifel Nicolaus increased their target price on shares of Eos Energy Enterprises from $10.00 to $22.00 and gave the company a “buy” rating in a report on Wednesday, October 15th. Roth Mkm set a $12.00 target price on shares of Eos Energy Enterprises and gave the stock a “neutral” rating in a research report on Wednesday, October 22nd. Finally, Zacks Research upgraded shares of Eos Energy Enterprises from a “strong sell” rating to a “hold” rating in a research report on Monday, January 12th. Two investment analysts have rated the stock with a Buy rating, six have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $13.50.

Eos Energy Enterprises Stock Performance

The firm has a market cap of $3.52 billion, a PE ratio of -1.46 and a beta of 2.13. The company’s 50-day simple moving average is $14.34 and its two-hundred day simple moving average is $12.14.

Insider Activity at Eos Energy Enterprises

In related news, Director Russell Monoki Stidolph sold 500,000 shares of the business’s stock in a transaction dated Friday, December 5th. The shares were sold at an average price of $14.99, for a total transaction of $7,495,000.00. Following the transaction, the director owned 2,153,272 shares in the company, valued at $32,277,547.28. The trade was a 18.84% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Marian Walters sold 50,000 shares of the firm’s stock in a transaction dated Thursday, December 4th. The stock was sold at an average price of $15.81, for a total transaction of $790,500.00. Following the completion of the sale, the director owned 135,334 shares of the company’s stock, valued at $2,139,630.54. This trade represents a 26.98% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 907,801 shares of company stock valued at $13,803,507 over the last quarter. Company insiders own 3.30% of the company’s stock.

Institutional Investors Weigh In On Eos Energy Enterprises

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. PNC Financial Services Group Inc. boosted its position in shares of Eos Energy Enterprises by 3,843.8% in the 4th quarter. PNC Financial Services Group Inc. now owns 2,524 shares of the company’s stock worth $29,000 after purchasing an additional 2,460 shares in the last quarter. Chung Wu Investment Group LLC purchased a new position in Eos Energy Enterprises during the third quarter valued at $30,000. Danske Bank A S bought a new stake in Eos Energy Enterprises in the fourth quarter worth $33,000. TD Waterhouse Canada Inc. grew its stake in shares of Eos Energy Enterprises by 178.7% in the fourth quarter. TD Waterhouse Canada Inc. now owns 3,119 shares of the company’s stock worth $36,000 after acquiring an additional 2,000 shares during the last quarter. Finally, GAMMA Investing LLC grew its stake in shares of Eos Energy Enterprises by 46.4% in the fourth quarter. GAMMA Investing LLC now owns 3,270 shares of the company’s stock worth $37,000 after acquiring an additional 1,036 shares during the last quarter. Hedge funds and other institutional investors own 54.87% of the company’s stock.

Eos Energy Enterprises Company Profile

Eos Energy Enterprises specializes in the development and deployment of scalable, long-duration energy storage systems designed to support the integration of renewable power and enhance grid reliability. The company’s core technology centers on its proprietary zinc hybrid cathode (Znyth™) battery platform, which aims to deliver safe, low-cost, and durable performance for utility, commercial and industrial, and microgrid applications.

The company’s flagship product, the Aurora™ energy storage system, combines its Znyth™ cells with modular power conversion and controls to offer flexible capacity ranging from one to three hours of discharge duration.