Eos Energy Enterprises (NASDAQ:EOSE) Trading Down 6.7%

Eos Energy Enterprises, Inc. (NASDAQ:EOSE) was down 6.7% during trading on Tuesday . The company traded as low as $2.76 and last traded at $2.77. Approximately 3,925,570 shares changed hands during mid-day trading, a decline of 42% from the average daily volume of 6,726,026 shares. The stock had previously closed at $2.97.

Wall Street Analyst Weigh In

Several research firms have recently commented on EOSE. B. Riley upgraded Eos Energy Enterprises to a “hold” rating in a research note on Tuesday, June 25th. Stifel Nicolaus reissued a “buy” rating and issued a $6.00 price target on shares of Eos Energy Enterprises in a report on Wednesday, August 21st. Finally, Roth Mkm reissued a “buy” rating and issued a $4.50 target price on shares of Eos Energy Enterprises in a report on Friday, June 28th. Two equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat, Eos Energy Enterprises currently has a consensus rating of “Moderate Buy” and an average price target of $3.67.

Eos Energy Enterprises Price Performance

The firm has a market capitalization of $597.33 million, a PE ratio of -1.78 and a beta of 2.39. The company has a 50-day moving average price of $2.19 and a 200-day moving average price of $1.44.

Eos Energy Enterprises (NASDAQ:EOSE) last released its earnings results on Tuesday, August 6th. The company reported ($0.30) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.19) by ($0.11). The business had revenue of $0.90 million for the quarter, compared to the consensus estimate of $4.38 million. On average, research analysts predict that Eos Energy Enterprises, Inc. will post -0.78 earnings per share for the current fiscal year.

Insider Buying and Selling at Eos Energy Enterprises

In related news, CEO Joe Mastrangelo acquired 52,800 shares of the business’s stock in a transaction dated Friday, August 9th. The shares were acquired at an average cost of $1.43 per share, for a total transaction of $75,504.00. Following the acquisition, the chief executive officer now directly owns 909,793 shares in the company, valued at approximately $1,301,003.99. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, CEO Joe Mastrangelo acquired 52,800 shares of the company’s stock in a transaction dated Friday, August 9th. The stock was acquired at an average cost of $1.43 per share, for a total transaction of $75,504.00. Following the acquisition, the chief executive officer now directly owns 909,793 shares in the company, valued at approximately $1,301,003.99. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Jeffrey S. Bornstein sold 30,000 shares of the stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $2.62, for a total value of $78,600.00. Following the completion of the transaction, the director now directly owns 84,929 shares in the company, valued at $222,513.98. The disclosure for this sale can be found here. 4.06% of the stock is currently owned by insiders.

Institutional Trading of Eos Energy Enterprises

A number of institutional investors have recently modified their holdings of EOSE. Vanguard Group Inc. lifted its stake in shares of Eos Energy Enterprises by 6.6% during the first quarter. Vanguard Group Inc. now owns 9,375,916 shares of the company’s stock worth $9,657,000 after purchasing an additional 580,022 shares in the last quarter. Evercore Wealth Management LLC increased its holdings in shares of Eos Energy Enterprises by 31.8% in the 4th quarter. Evercore Wealth Management LLC now owns 145,000 shares of the company’s stock worth $158,000 after acquiring an additional 35,000 shares during the period. Electron Capital Partners LLC lifted its position in Eos Energy Enterprises by 226.6% in the 4th quarter. Electron Capital Partners LLC now owns 6,958,125 shares of the company’s stock valued at $7,584,000 after purchasing an additional 4,827,586 shares during the last quarter. Black Maple Capital Management LP boosted its stake in Eos Energy Enterprises by 227.0% during the 4th quarter. Black Maple Capital Management LP now owns 151,248 shares of the company’s stock valued at $165,000 after purchasing an additional 105,000 shares during the period. Finally, B. Riley Wealth Advisors Inc. grew its position in Eos Energy Enterprises by 940.6% in the 1st quarter. B. Riley Wealth Advisors Inc. now owns 275,765 shares of the company’s stock worth $284,000 after purchasing an additional 249,265 shares during the last quarter. 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.