Eos Energy Enterprises (NASDAQ:EOSE) Shares Up 7.4% – Time to Buy?

Eos Energy Enterprises, Inc. (NASDAQ:EOSE) shares were up 7.4% during mid-day trading on Wednesday . The company traded as high as $16.30 and last traded at $16.1230. Approximately 13,767,883 shares changed hands during mid-day trading, a decline of 38% from the average daily volume of 22,105,316 shares. The stock had previously closed at $15.01.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the stock. Wall Street Zen downgraded shares of Eos Energy Enterprises from a “hold” rating to a “sell” rating in a research report on Saturday, November 8th. Guggenheim increased their price objective on Eos Energy Enterprises from $10.00 to $20.00 and gave the company a “buy” rating in a report on Wednesday, October 22nd. Stifel Nicolaus lifted their target price on shares of Eos Energy Enterprises from $10.00 to $22.00 and gave the stock a “buy” rating in a report on Wednesday, October 15th. JPMorgan Chase & Co. started coverage on Eos Energy Enterprises in a research report on Wednesday, December 17th. They issued a “neutral” rating and a $16.00 price target on the stock. Finally, B. Riley boosted their price objective on shares of Eos Energy Enterprises from $8.00 to $12.00 and gave the stock a “neutral” rating in a report on Tuesday, November 11th. Two research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, Eos Energy Enterprises has an average rating of “Hold” and a consensus target price of $13.50.

Eos Energy Enterprises Stock Up 11.1%

The stock has a market capitalization of $4.81 billion, a price-to-earnings ratio of -2.00 and a beta of 2.11. The stock’s 50-day simple moving average is $14.27 and its 200 day simple moving average is $11.62.

Eos Energy Enterprises (NASDAQ:EOSE) last issued its quarterly earnings data on Wednesday, November 5th. The company reported ($2.77) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.31) by ($2.46). The business had revenue of $30.51 million during the quarter, compared to analysts’ expectations of $39.55 million. As a group, equities research analysts anticipate that Eos Energy Enterprises, Inc. will post -2.54 earnings per share for the current year.

Insider Activity at Eos Energy Enterprises

In related news, insider Michael W. Silberman sold 41,667 shares of the firm’s stock in a transaction that occurred on Friday, January 23rd. The shares were sold at an average price of $17.74, for a total value of $739,172.58. Following the completion of the sale, the insider owned 283,279 shares of the company’s stock, valued at $5,025,369.46. This trade represents a 12.82% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Marian Walters sold 50,000 shares of Eos Energy Enterprises stock in a transaction on Thursday, December 4th. The shares were sold at an average price of $15.81, for a total value of $790,500.00. Following the completion of the sale, the director directly owned 135,334 shares of the company’s stock, valued at $2,139,630.54. This trade represents a 26.98% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders sold 907,801 shares of company stock worth $13,803,507. 3.30% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. Farther Finance Advisors LLC lifted its holdings in shares of Eos Energy Enterprises by 33.0% during the 3rd quarter. Farther Finance Advisors LLC now owns 3,325 shares of the company’s stock valued at $38,000 after purchasing an additional 825 shares in the last quarter. GAMMA Investing LLC boosted its holdings in Eos Energy Enterprises by 46.4% during the fourth quarter. GAMMA Investing LLC now owns 3,270 shares of the company’s stock worth $37,000 after purchasing an additional 1,036 shares during the last quarter. Diversify Advisory Services LLC boosted its stake in shares of Eos Energy Enterprises by 6.5% during the 3rd quarter. Diversify Advisory Services LLC now owns 17,124 shares of the company’s stock worth $195,000 after buying an additional 1,049 shares during the last quarter. Investment Advisory Group LLC boosted its position in Eos Energy Enterprises by 7.0% during the third quarter. Investment Advisory Group LLC now owns 23,000 shares of the company’s stock valued at $262,000 after purchasing an additional 1,500 shares during the last quarter. Finally, Copia Wealth Management boosted its holdings in shares of Eos Energy Enterprises by 54.7% in the 3rd quarter. Copia Wealth Management now owns 4,796 shares of the company’s stock valued at $55,000 after buying an additional 1,696 shares during the last quarter. Institutional investors and hedge funds own 54.87% of the company’s stock.

Eos Energy Enterprises Company Profile

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.