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

Eos Energy Enterprises, Inc. (NASDAQ:EOSE)’s stock price gapped down prior to trading on Wednesday . The stock had previously closed at $16.82, but opened at $15.97. Eos Energy Enterprises shares last traded at $16.2210, with a volume of 9,675,202 shares.

Analyst Ratings Changes

A number of research analysts recently commented on the stock. Zacks Research raised shares of Eos Energy Enterprises from a “strong sell” rating to a “hold” rating in a report on Monday. Guggenheim upped their price objective 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. B. Riley lifted their target price on Eos Energy Enterprises from $8.00 to $12.00 and gave the stock a “neutral” rating in a report on Tuesday, November 11th. Roth Capital set a $12.00 target price on Eos Energy Enterprises and gave the company a “neutral” rating in a research report on Wednesday, October 22nd. Finally, Wall Street Zen lowered Eos Energy Enterprises from a “hold” rating to a “sell” rating in a report on Saturday, November 8th. Two investment analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $12.44.

Eos Energy Enterprises Stock Up 3.4%

The stock has a market capitalization of $5.03 billion, a P/E ratio of -2.09 and a beta of 2.11. The stock’s 50 day moving average price is $14.12 and its 200-day moving average price is $10.86.

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 firm had revenue of $30.51 million during the quarter, compared to analysts’ expectations of $39.55 million. Analysts anticipate that Eos Energy Enterprises, Inc. will post -2.54 earnings per share for the current year.

Insiders Place Their Bets

In other news, Director Marian Walters sold 50,000 shares of the stock in a transaction on 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 in the company, valued at approximately $2,139,630.54. This represents a 26.98% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Russell Monoki Stidolph sold 500,000 shares of the business’s stock in a transaction on Friday, December 5th. The stock was sold at an average price of $14.99, for a total value of $7,495,000.00. Following the transaction, the director owned 2,153,272 shares in the company, valued at approximately $32,277,547.28. This trade represents a 18.84% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders have sold 816,134 shares of company stock worth $12,262,335. Insiders own 3.30% of the company’s stock.

Hedge Funds Weigh In On Eos Energy Enterprises

Hedge funds and other institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. boosted its stake in Eos Energy Enterprises by 16.7% in the 3rd quarter. Vanguard Group Inc. now owns 15,536,862 shares of the company’s stock worth $176,965,000 after purchasing an additional 2,218,075 shares in the last quarter. Rubric Capital Management LP acquired a new stake in shares of Eos Energy Enterprises during the third quarter worth $117,317,000. Electron Capital Partners LLC grew its holdings in shares of 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 valued at $35,735,000 after buying an additional 1,989,144 shares during the last quarter. Geode Capital Management LLC increased its position in shares of Eos Energy Enterprises by 101.4% in the 2nd quarter. Geode Capital Management LLC now owns 5,407,930 shares of the company’s stock valued at $27,692,000 after acquiring an additional 2,722,495 shares during the period. Finally, Goldman Sachs Group Inc. raised its stake in Eos Energy Enterprises by 36.8% in the 1st quarter. Goldman Sachs Group Inc. now owns 3,900,513 shares of the company’s stock worth $14,744,000 after acquiring an additional 1,050,128 shares during the last quarter. 54.87% of the stock is owned by hedge funds and other institutional investors.

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.