Eos Energy Enterprises (NASDAQ:EOSE) Trading Up 8.2% – Time to Buy?

Eos Energy Enterprises, Inc. (NASDAQ:EOSE) shares were up 8.2% on Tuesday . The company traded as high as $6.60 and last traded at $6.79. Approximately 1,774,359 shares were traded during mid-day trading, a decline of 83% from the average daily volume of 10,468,105 shares. The stock had previously closed at $6.27.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on EOSE shares. Stifel Nicolaus dropped their target price on shares of Eos Energy Enterprises from $9.00 to $8.50 and set a “buy” rating on the stock in a research note on Monday, June 9th. Wall Street Zen cut shares of Eos Energy Enterprises from a “hold” rating to a “sell” rating in a research note on Sunday, August 3rd. TD Cowen upped their price target on shares of Eos Energy Enterprises from $5.50 to $6.00 and gave the company a “hold” rating in a research note on Friday, August 1st. Finally, Guggenheim dropped their price target on shares of Eos Energy Enterprises from $7.00 to $6.00 and set a “buy” rating on the stock in a research note on Monday, June 2nd. Two investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $6.38.

Eos Energy Enterprises Stock Performance

The firm has a market capitalization of $1.74 billion, a PE ratio of -1.29 and a beta of 2.07. The company’s 50 day simple moving average is $5.52 and its 200-day simple moving average is $5.01.

Eos Energy Enterprises (NASDAQ:EOSE) last posted its earnings results on Wednesday, July 30th. The company reported ($1.05) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.17) by ($0.88). The business had revenue of $15.24 million for the quarter, compared to analyst estimates of $24.96 million. Eos Energy Enterprises has set its FY 2025 guidance at EPS. On average, equities research analysts forecast that Eos Energy Enterprises, Inc. will post -2.54 earnings per share for the current fiscal year.

Insider Activity

In other news, General Counsel Michael W. Silberman sold 65,625 shares of the firm’s stock in a transaction on Tuesday, July 29th. The shares were sold at an average price of $5.94, for a total transaction of $389,812.50. Following the sale, the general counsel owned 241,612 shares in the company, valued at approximately $1,435,175.28. This trade represents a 21.36% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Joe Mastrangelo sold 166,667 shares of the firm’s stock in a transaction on Tuesday, July 29th. The shares were sold at an average price of $5.94, for a total transaction of $990,001.98. Following the sale, the chief executive officer owned 1,403,226 shares in the company, valued at approximately $8,335,162.44. This trade represents a 10.62% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 592,697 shares of company stock worth $3,327,816. Corporate insiders own 3.63% of the company’s stock.

Institutional Trading of Eos Energy Enterprises

Institutional investors and hedge funds have recently made changes to their positions in the stock. Bank of America Corp DE raised its position in shares of Eos Energy Enterprises by 165.2% during the 4th quarter. Bank of America Corp DE now owns 213,256 shares of the company’s stock valued at $1,036,000 after buying an additional 132,853 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC purchased a new position in Eos Energy Enterprises in the 4th quarter worth $1,581,000. California State Teachers Retirement System purchased a new position in Eos Energy Enterprises in the 4th quarter worth $908,000. Cetera Investment Advisers purchased a new position in Eos Energy Enterprises in the 1st quarter worth $197,000. Finally, BNP Paribas Financial Markets purchased a new position in Eos Energy Enterprises in the 4th quarter worth $1,271,000. Hedge funds and other institutional investors own 54.87% of the company’s stock.

About Eos Energy Enterprises

Eos Energy Enterprises, Inc designs, manufactures, and markets zinc-based energy storage solutions for utility-scale, microgrid, and commercial and industrial (C&I) applications in the United States. The company offers Znyth technology battery energy storage system (BESS), which provides the operating flexibility to manage increased grid complexity and price volatility.