Eos Energy Enterprises (NASDAQ:EOSE) Trading Up 6.1% – What’s Next?

Eos Energy Enterprises, Inc. (NASDAQ:EOSE) shares were up 6.1% during trading on Friday . The stock traded as high as $3.32 and last traded at $3.32. Approximately 2,425,262 shares were traded during mid-day trading, a decline of 64% from the average daily volume of 6,703,535 shares. The stock had previously closed at $3.13.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on EOSE shares. Roth Mkm reissued a “buy” rating and set a $4.50 price target on shares of Eos Energy Enterprises in a report on Friday, June 28th. Stifel Nicolaus reiterated a “buy” rating and issued a $6.00 target price on shares of Eos Energy Enterprises in a research report on Wednesday, August 21st. Two equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $3.67.

Eos Energy Enterprises Price Performance

The company has a market cap of $699.31 million, a PE ratio of -2.13 and a beta of 2.40. The business has a fifty day simple moving average of $2.69 and a two-hundred day simple moving average of $1.70.

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

Insider Buying and Selling at Eos Energy Enterprises

In other news, Director Jeffrey S. Bornstein sold 30,000 shares of the company’s stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $2.62, for a total value of $78,600.00. Following the sale, the director now owns 84,929 shares in the company, valued at $222,513.98. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other Eos Energy Enterprises news, Director Jeffrey S. Bornstein sold 30,000 shares of the company’s stock in a transaction that occurred 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 sale, the director now owns 84,929 shares in the company, valued at approximately $222,513.98. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO Joe Mastrangelo bought 52,800 shares of the business’s stock in a transaction dated Friday, August 9th. The shares were purchased at an average cost of $1.43 per share, with a total value of $75,504.00. Following the completion of the acquisition, the chief executive officer now owns 909,793 shares in the company, valued at approximately $1,301,003.99. This represents a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Company insiders own 4.06% of the company’s stock.

Institutional Investors Weigh In On Eos Energy Enterprises

Hedge funds and other institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. grew its stake in shares of Eos Energy Enterprises by 6.6% in the first quarter. Vanguard Group Inc. now owns 9,375,916 shares of the company’s stock valued at $9,657,000 after buying an additional 580,022 shares in the last quarter. Millennium Management LLC lifted its holdings in Eos Energy Enterprises by 5,744.5% during the 2nd quarter. Millennium Management LLC now owns 3,164,017 shares of the company’s stock worth $4,018,000 after buying an additional 3,109,880 shares in the last quarter. NewEdge Advisors LLC boosted its position in Eos Energy Enterprises by 30.2% in the 2nd quarter. NewEdge Advisors LLC now owns 2,588,823 shares of the company’s stock valued at $3,288,000 after buying an additional 600,143 shares during the period. &PARTNERS grew its stake in shares of Eos Energy Enterprises by 27.4% in the second quarter. &PARTNERS now owns 411,900 shares of the company’s stock worth $523,000 after acquiring an additional 88,650 shares in the last quarter. Finally, B. Riley Wealth Advisors Inc. increased its position in shares of Eos Energy Enterprises by 940.6% during the first quarter. B. Riley Wealth Advisors Inc. now owns 275,765 shares of the company’s stock worth $284,000 after acquiring an additional 249,265 shares during the period. 54.87% of the stock is currently owned by institutional investors and hedge funds.

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.