Eos Energy Enterprises (NASDAQ:EOSE) Trading Up 10.9% – Should You Buy?

Eos Energy Enterprises, Inc. (NASDAQ:EOSE) rose 10.9% on Wednesday . The stock traded as high as $7.72 and last traded at $7.5550. Approximately 9,333,272 shares changed hands during mid-day trading, a decline of 63% from the average daily volume of 24,985,471 shares. The stock had previously closed at $6.81.

Wall Street Analyst Weigh In

EOSE has been the subject of several recent analyst reports. B. Riley Financial lowered their price target on 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 research note on Tuesday, April 21st. Roth Mkm reduced their price objective on Eos Energy Enterprises from $12.00 to $6.00 and set a “neutral” rating for the company in a research note on Friday, February 27th. Needham & Company LLC assumed coverage on Eos Energy Enterprises in a research note on Friday, May 22nd. They issued a “buy” rating and a $11.00 price objective for the company. Finally, Zacks Research upgraded Eos Energy Enterprises from a “strong sell” rating to a “hold” rating in a research note on Tuesday, April 28th. Two analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $10.94.

Eos Energy Enterprises Stock Up 10.8%

The stock has a market capitalization of $2.56 billion, a PE ratio of -1.12 and a beta of 2.62. The firm has a 50 day moving average price of $7.15 and a 200-day moving average price of $9.88.

Eos Energy Enterprises (NASDAQ:EOSE) last announced its quarterly earnings data on Wednesday, May 13th. The company reported $0.12 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.22) by $0.34. The firm had revenue of $56.96 million during the quarter, compared to analysts’ expectations of $54.32 million. Equities analysts expect that Eos Energy Enterprises, Inc. will post -0.31 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, Director Marian Walters sold 7,681 shares of Eos Energy Enterprises stock in a transaction that occurred on Tuesday, May 19th. The stock was sold at an average price of $7.07, for a total transaction of $54,304.67. Following the completion of the transaction, the director directly owned 135,334 shares in the company, valued at approximately $956,811.38. This trade represents a 5.37% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 1.73% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the stock. State of New Jersey Common Pension Fund D purchased a new position in Eos Energy Enterprises during the fourth quarter valued at approximately $1,834,000. Baker Avenue Asset Management LP purchased a new position in Eos Energy Enterprises during the fourth quarter valued at approximately $11,542,000. Vanguard Group Inc. raised its position in Eos Energy Enterprises by 19.8% during the fourth quarter. Vanguard Group Inc. now owns 18,616,874 shares of the company’s stock valued at $213,349,000 after acquiring an additional 3,080,012 shares in the last quarter. DNB Asset Management AS raised its position in Eos Energy Enterprises by 22.4% during the third quarter. DNB Asset Management AS now owns 1,034,086 shares of the company’s stock valued at $11,778,000 after acquiring an additional 189,039 shares in the last quarter. Finally, Park Avenue Securities LLC purchased a new position in Eos Energy Enterprises during the fourth quarter valued at approximately $4,307,000. 54.87% of the stock is currently owned by hedge funds and other institutional investors.

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.