Eos Energy Enterprises (NASDAQ:EOSE) Shares Down 9.6% – Should You Sell?

Eos Energy Enterprises, Inc. (NASDAQ:EOSE)’s stock price fell 9.6% during mid-day trading on Monday . The company traded as low as $4.39 and last traded at $4.3950. 15,522,487 shares traded hands during mid-day trading, a decline of 33% from the average session volume of 23,298,941 shares. The stock had previously closed at $4.86.

Wall Street Analysts Forecast Growth

EOSE has been the subject of several research analyst reports. B. Riley Financial reduced their price target on shares of Eos Energy Enterprises from $12.00 to $8.00 and set a “neutral” rating for the company in a report on Thursday, March 5th. Weiss Ratings restated a “sell (d-)” rating on shares of Eos Energy Enterprises in a report on Thursday, January 22nd. Zacks Research cut shares of Eos Energy Enterprises from a “hold” rating to a “strong sell” rating in a research report on Monday, March 9th. Guggenheim reaffirmed a “neutral” rating and issued a $20.00 target price on shares of Eos Energy Enterprises in a research note on Friday, February 27th. Finally, JPMorgan Chase & Co. assumed coverage on Eos Energy Enterprises in a report on Wednesday, December 17th. They set a “neutral” rating and a $16.00 target price for the company. One research analyst has rated the stock with a Buy rating, six have given a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat.com, Eos Energy Enterprises has a consensus rating of “Reduce” and a consensus target price of $12.07.

Eos Energy Enterprises Trading Down 9.7%

The company has a 50 day simple moving average of $10.12 and a 200 day simple moving average of $12.43. The stock has a market cap of $1.49 billion, a P/E ratio of -0.63 and a beta of 2.26.

Eos Energy Enterprises (NASDAQ:EOSE) last issued its quarterly earnings results on Thursday, February 26th. The company reported ($0.84) earnings per share for the quarter, missing the consensus estimate of ($0.20) by ($0.64). The firm had revenue of $58.00 million for the quarter, compared to the consensus estimate of $93.36 million. As a group, sell-side analysts expect that Eos Energy Enterprises, Inc. will post -2.54 earnings per share for the current year.

Insider Transactions at Eos Energy Enterprises

In other news, insider Michael W. Silberman sold 41,667 shares of the stock in a transaction dated 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 in the company, valued at $5,025,369.46. This represents a 12.82% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Nathan Kroeker sold 50,000 shares of the firm’s stock in a transaction dated Monday, January 26th. The shares were sold at an average price of $16.04, for a total value of $802,000.00. Following the completion of the transaction, the chief financial officer owned 662,512 shares of the company’s stock, valued at $10,626,692.48. The trade was a 7.02% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders acquired 115,150 shares of company stock worth $692,962. 3.30% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the stock. Vanguard Group Inc. increased its position in shares of Eos Energy Enterprises by 19.8% during the 4th quarter. Vanguard Group Inc. now owns 18,616,874 shares of the company’s stock worth $213,349,000 after purchasing an additional 3,080,012 shares during the last quarter. Rubric Capital Management LP acquired a new stake in shares of Eos Energy Enterprises in the 3rd quarter valued at approximately $117,317,000. State Street Corp grew its stake in shares of Eos Energy Enterprises by 6.1% in the fourth quarter. State Street Corp now owns 7,689,841 shares of the company’s stock valued at $88,126,000 after buying an additional 443,809 shares in the last quarter. Geode Capital Management LLC grew its stake in shares of Eos Energy Enterprises by 16.1% in the fourth quarter. Geode Capital Management LLC now owns 7,205,507 shares of the company’s stock valued at $82,587,000 after buying an additional 998,332 shares in the last quarter. Finally, Electron Capital Partners LLC increased its holdings in Eos Energy Enterprises by 39.9% during the second quarter. Electron Capital Partners LLC now owns 6,979,422 shares of the company’s stock worth $35,735,000 after buying an additional 1,989,144 shares during the last quarter. 54.87% of the stock is owned by institutional investors and hedge funds.

About Eos Energy Enterprises

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.