Eos Energy Enterprises (NASDAQ:EOSE) Shares Down 9.9% – Time to Sell?

Eos Energy Enterprises, Inc. (NASDAQ:EOSE) dropped 9.9% during trading on Wednesday . The stock traded as low as $13.48 and last traded at $12.9770. Approximately 1,903,496 shares were traded during trading, a decline of 91% from the average daily volume of 21,121,264 shares. The stock had previously closed at $14.40.

Analyst Ratings Changes

Several equities research analysts have commented on the stock. JPMorgan Chase & Co. assumed coverage on shares of Eos Energy Enterprises in a report on Wednesday, December 17th. They issued a “neutral” rating and a $16.00 price target on the stock. Weiss Ratings reiterated a “sell (d-)” rating on shares of Eos Energy Enterprises in a research report on Thursday, January 22nd. Stifel Nicolaus upped their price objective on Eos Energy Enterprises from $10.00 to $22.00 and gave the stock a “buy” rating in a research report on Wednesday, October 15th. Roth Mkm set a $12.00 price objective on shares of Eos Energy Enterprises and gave the stock a “neutral” rating in a research note on Wednesday, October 22nd. Finally, Zacks Research upgraded shares of Eos Energy Enterprises from a “strong sell” rating to a “hold” rating in a research note on Monday, January 12th. Two equities research analysts have rated the stock with a Buy rating, six have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, Eos Energy Enterprises has an average rating of “Hold” and a consensus target price of $13.50.

Eos Energy Enterprises Trading Down 15.9%

The business has a 50-day moving average price of $14.50 and a 200-day moving average price of $11.97. The stock has a market cap of $3.49 billion, a PE ratio of -1.45 and a beta of 2.13.

Eos Energy Enterprises (NASDAQ:EOSE) last released its earnings results on Wednesday, November 5th. The company reported ($2.77) EPS for the quarter, missing analysts’ consensus estimates of ($0.31) by ($2.46). The firm had revenue of $30.51 million for the quarter, compared to analyst estimates of $39.55 million. Equities analysts expect that Eos Energy Enterprises, Inc. will post -2.54 earnings per share for the current year.

Insider Transactions at Eos Energy Enterprises

In other Eos Energy Enterprises news, insider Michael W. Silberman sold 41,667 shares of the firm’s stock in a transaction on Friday, January 23rd. The stock was sold at an average price of $17.74, for a total value of $739,172.58. Following the transaction, the insider owned 283,279 shares in the company, valued at approximately $5,025,369.46. This trade represents a 12.82% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO Nathan Kroeker sold 50,000 shares of the company’s stock in a transaction on Monday, January 26th. The stock was sold at an average price of $16.04, for a total transaction of $802,000.00. Following the sale, the chief financial officer directly owned 662,512 shares of the company’s stock, valued at $10,626,692.48. The trade was a 7.02% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 907,801 shares of company stock valued at $13,803,507 over the last ninety days. Company insiders own 3.30% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Vanguard Group Inc. boosted its stake 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 worth $213,349,000 after buying an additional 3,080,012 shares during the last quarter. Rubric Capital Management LP purchased a new stake in shares of Eos Energy Enterprises in the third quarter valued at about $117,317,000. Electron Capital Partners LLC grew its stake in shares of Eos Energy Enterprises by 39.9% in the 2nd 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 period. Geode Capital Management LLC grew its stake 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 buying an additional 2,722,495 shares during the period. Finally, Goldman Sachs Group Inc. increased its holdings in shares of Eos Energy Enterprises by 36.8% during the 1st quarter. Goldman Sachs Group Inc. now owns 3,900,513 shares of the company’s stock worth $14,744,000 after buying an additional 1,050,128 shares during the last quarter. 54.87% of the stock is currently owned by institutional investors and hedge funds.

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.