Eos Energy Enterprises (NASDAQ:EOSE) Shares Down 6.4% – What’s Next?

Eos Energy Enterprises, Inc. (NASDAQ:EOSE)’s share price fell 6.4% during mid-day trading on Wednesday . The stock traded as low as $16.61 and last traded at $16.2120. 8,121,508 shares were traded during mid-day trading, a decline of 62% from the average session volume of 21,270,051 shares. The stock had previously closed at $17.32.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the company. Zacks Research raised Eos Energy Enterprises from a “strong sell” rating to a “hold” rating in a report on Monday, January 12th. JPMorgan Chase & Co. began coverage on shares of Eos Energy Enterprises in a research report on Wednesday, December 17th. They set a “neutral” rating and a $16.00 price objective on the stock. Stifel Nicolaus increased their price target on shares of Eos Energy Enterprises from $10.00 to $22.00 and gave the company a “buy” rating in a report on Wednesday, October 15th. B. Riley upped their price objective on Eos Energy Enterprises from $8.00 to $12.00 and gave the stock a “neutral” rating in a research note on Tuesday, November 11th. Finally, Wall Street Zen downgraded Eos Energy Enterprises from a “hold” rating to a “sell” rating in a research note on Saturday, November 8th. Two research analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $12.44.

Eos Energy Enterprises Price Performance

The company has a market cap of $5.05 billion, a PE ratio of -2.10 and a beta of 2.11. The stock has a 50 day simple moving average of $14.04 and a two-hundred day simple moving average of $11.20.

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

Insider Transactions at Eos Energy Enterprises

In other news, Director Russell Monoki Stidolph sold 29,999 shares of the business’s stock in a transaction dated Monday, December 8th. The shares were sold at an average price of $15.36, for a total transaction of $460,784.64. Following the transaction, the director owned 2,123,273 shares in the company, valued at approximately $32,613,473.28. The trade was a 1.39% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Marian Walters sold 50,000 shares of the stock in a transaction that occurred on Thursday, December 4th. The shares were sold at an average price of $15.81, for a total transaction of $790,500.00. Following the sale, the director directly owned 135,334 shares in the company, valued at $2,139,630.54. This trade represents a 26.98% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 816,134 shares of company stock valued at $12,262,335 in the last ninety days. Insiders own 3.30% of the company’s stock.

Hedge Funds Weigh In On Eos Energy Enterprises

Institutional investors have recently added to or reduced their stakes in the stock. Chung Wu Investment Group LLC bought a new stake in Eos Energy Enterprises in the third quarter worth approximately $30,000. GAMMA Investing LLC raised its position in shares of Eos Energy Enterprises by 46.4% in the fourth quarter. GAMMA Investing LLC now owns 3,270 shares of the company’s stock worth $37,000 after buying an additional 1,036 shares in the last quarter. Farther Finance Advisors LLC lifted its position in Eos Energy Enterprises by 33.0% in the 3rd quarter. Farther Finance Advisors LLC now owns 3,325 shares of the company’s stock worth $38,000 after buying an additional 825 shares during the last quarter. Amalgamated Bank bought a new stake in Eos Energy Enterprises in the 2nd quarter worth $39,000. Finally, Skandinaviska Enskilda Banken AB publ bought a new stake in Eos Energy Enterprises during the 2nd quarter valued at approximately $39,000. 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.