Eos Energy Enterprises (NASDAQ:EOSE) Sets New 1-Year Low – Should You Sell?

Eos Energy Enterprises, Inc. (NASDAQ:EOSE)’s share price reached a new 52-week low during trading on Friday . The stock traded as low as $4.33 and last traded at $4.4750, with a volume of 4429237 shares traded. The stock had previously closed at $4.58.

Analysts Set New Price Targets

Several equities analysts have weighed in on EOSE shares. JPMorgan Chase & Co. dropped their target price on shares of Eos Energy Enterprises from $9.00 to $6.00 and set a “neutral” rating for the company in a report on Thursday, April 16th. Zacks Research raised shares of Eos Energy Enterprises from a “strong sell” rating to a “hold” rating in a research note on Tuesday, April 28th. Wall Street Zen downgraded Eos Energy Enterprises from a “hold” rating to a “sell” rating in a research report on Saturday, July 4th. TD Cowen upped their target price on Eos Energy Enterprises from $7.00 to $8.00 and gave the company a “hold” rating in a research note on Thursday, May 14th. Finally, Needham & Company LLC assumed coverage on Eos Energy Enterprises in a report on Friday, May 22nd. They set a “buy” rating and a $11.00 target price on the stock. Two equities research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $10.94.

Eos Energy Enterprises Stock Performance

The company has a market capitalization of $1.50 billion, a price-to-earnings ratio of -0.66 and a beta of 2.68. The company has a fifty day simple moving average of $6.99 and a two-hundred day simple moving average of $8.90.

Eos Energy Enterprises (NASDAQ:EOSE) last posted its quarterly earnings data on Wednesday, May 13th. The company reported $0.12 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.22) by $0.34. The business had revenue of $56.96 million for the quarter, compared to analyst estimates of $54.32 million. As a group, analysts expect that Eos Energy Enterprises, Inc. will post -0.31 EPS for the current year.

Insider Transactions at Eos Energy Enterprises

In other Eos Energy Enterprises news, Director Marian Walters sold 7,681 shares of Eos Energy Enterprises stock in a transaction dated Tuesday, May 19th. The stock was sold at an average price of $7.07, for a total value of $54,304.67. Following the completion of the sale, the director owned 135,334 shares in the company, valued at $956,811.38. The trade was a 5.37% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CAO Sumeet Puri sold 8,823 shares of Eos Energy Enterprises stock in a transaction dated Tuesday, June 30th. The shares were sold at an average price of $5.86, for a total value of $51,702.78. Following the completion of the sale, the chief accounting officer owned 173,112 shares of the company’s stock, valued at $1,014,436.32. This trade represents a 4.85% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold 157,569 shares of company stock worth $839,328 in the last quarter. 1.73% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Eos Energy Enterprises

Institutional investors and hedge funds have recently bought and sold shares of the stock. PNC Financial Services Group Inc. boosted its holdings in shares of Eos Energy Enterprises by 3,843.8% in the 4th quarter. PNC Financial Services Group Inc. now owns 2,524 shares of the company’s stock valued at $29,000 after purchasing an additional 2,460 shares during the last quarter. Towarzystwo Funduszy Inwestycyjnych PZU SA boosted its holdings in Eos Energy Enterprises by 58.8% in the fourth quarter. Towarzystwo Funduszy Inwestycyjnych PZU SA now owns 2,700 shares of the company’s stock valued at $31,000 after acquiring an additional 1,000 shares during the last quarter. Danske Bank A S acquired a new position in Eos Energy Enterprises in the fourth quarter valued at $33,000. TD Waterhouse Canada Inc. grew its position in Eos Energy Enterprises by 178.7% during the fourth quarter. TD Waterhouse Canada Inc. now owns 3,119 shares of the company’s stock valued at $36,000 after acquiring an additional 2,000 shares during the period. Finally, GAMMA Investing LLC increased its stake 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 acquiring an additional 1,036 shares during the last quarter. Institutional investors and hedge funds own 54.87% of the company’s stock.

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.