Eos Energy Enterprises (NASDAQ:EOSE) Shares Down 9.9% – Should You Sell?

Eos Energy Enterprises, Inc. (NASDAQ:EOSE) traded down 9.9% on Wednesday . The stock traded as low as $13.48 and last traded at $12.9770. 1,903,496 shares were traded during trading, a decline of 91% from the average session volume of 21,121,264 shares. The stock had previously closed at $14.40.

Wall Street Analyst Weigh In

EOSE has been the topic of several recent research reports. Stifel Nicolaus increased their price target on Eos Energy Enterprises from $10.00 to $22.00 and gave the company a “buy” rating in a report on Wednesday, October 15th. Guggenheim boosted their target price on Eos Energy Enterprises from $10.00 to $20.00 and gave the company a “buy” rating in a research report on Wednesday, October 22nd. Wall Street Zen downgraded Eos Energy Enterprises from a “hold” rating to a “sell” rating in a report on Saturday, November 8th. Roth Mkm set a $12.00 price target on shares of Eos Energy Enterprises and gave the stock a “neutral” rating in a report on Wednesday, October 22nd. Finally, JPMorgan Chase & Co. assumed coverage on shares of Eos Energy Enterprises in a report on Wednesday, December 17th. They set a “neutral” rating and a $16.00 price objective for the company. Two investment analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $13.50.

Eos Energy Enterprises Trading Down 15.9%

The firm has a 50-day simple moving average of $14.50 and a 200-day simple moving average of $11.97. The firm has a market cap of $3.49 billion, a P/E ratio of -1.45 and a beta of 2.13.

Eos Energy Enterprises (NASDAQ:EOSE) last released its quarterly earnings results on Wednesday, November 5th. The company reported ($2.77) EPS for the quarter, missing the consensus estimate of ($0.31) by ($2.46). The business had revenue of $30.51 million for the quarter, compared to analyst estimates of $39.55 million. Research analysts predict that Eos Energy Enterprises, Inc. will post -2.54 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, CFO Nathan Kroeker sold 50,000 shares of the business’s stock in a transaction dated Monday, January 26th. The stock was sold at an average price of $16.04, for a total transaction of $802,000.00. Following the sale, the chief financial officer owned 662,512 shares in the company, valued at approximately $10,626,692.48. The trade was a 7.02% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Michael W. Silberman sold 41,667 shares of the stock in a transaction that occurred on Friday, January 23rd. The shares were sold at an average price of $17.74, for a total transaction of $739,172.58. Following the completion of the transaction, the insider directly owned 283,279 shares of the company’s stock, valued at $5,025,369.46. The trade was a 12.82% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders sold 907,801 shares of company stock valued at $13,803,507. Company insiders own 3.30% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in EOSE. Swiss Life Asset Management Ltd increased its position in shares of Eos Energy Enterprises by 31.3% in the 4th quarter. Swiss Life Asset Management Ltd now owns 14,796 shares of the company’s stock valued at $170,000 after acquiring an additional 3,523 shares during the period. Flagship Private Wealth LLC increased its holdings in shares of Eos Energy Enterprises by 6.9% in the fourth quarter. Flagship Private Wealth LLC now owns 103,606 shares of the company’s stock valued at $1,187,000 after purchasing an additional 6,651 shares during the period. NewEdge Wealth LLC purchased a new position in shares of Eos Energy Enterprises in the fourth quarter worth about $197,000. International Assets Investment Management LLC acquired a new stake in shares of Eos Energy Enterprises during the fourth quarter worth about $124,000. Finally, Truist Financial Corp purchased a new stake in Eos Energy Enterprises in the fourth quarter valued at approximately $144,000. 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.