Eos Energy Enterprises (NASDAQ:EOSE) Shares Up 6.1%

Eos Energy Enterprises, Inc. (NASDAQ:EOSE) shares rose 6.1% during trading on Monday . The company traded as high as $2.78 and last traded at $2.78. Approximately 3,937,365 shares traded hands during mid-day trading, a decline of 41% from the average daily volume of 6,704,677 shares. The stock had previously closed at $2.62.

Analysts Set New Price Targets

Several brokerages have recently commented on EOSE. Stifel Nicolaus reiterated a “buy” rating and set a $6.00 price objective on shares of Eos Energy Enterprises in a research report on Wednesday, August 21st. B. Riley raised shares of Eos Energy Enterprises to a “hold” rating in a research note on Tuesday, June 25th. Finally, Roth Mkm restated a “buy” rating and issued a $4.50 price objective on shares of Eos Energy Enterprises in a report on Friday, June 28th. Two equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $3.67.

Eos Energy Enterprises Price Performance

The company has a market capitalization of $611.90 million, a P/E ratio of -1.82 and a beta of 2.39. The company has a 50 day moving average of $2.17 and a 200-day moving average of $1.43.

Eos Energy Enterprises (NASDAQ:EOSE) last issued its quarterly earnings data 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 during the quarter, compared to analysts’ expectations of $4.38 million. Research analysts predict that Eos Energy Enterprises, Inc. will post -0.78 EPS for the current fiscal year.

Insider Buying and Selling at Eos Energy Enterprises

In related news, CEO Joe Mastrangelo acquired 52,800 shares of the stock in a transaction on Friday, August 9th. The stock was acquired at an average cost of $1.43 per share, for a total transaction of $75,504.00. Following the completion of the acquisition, the chief executive officer now directly owns 909,793 shares of the company’s stock, valued at approximately $1,301,003.99. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other news, CEO Joe Mastrangelo acquired 52,800 shares of the firm’s stock in a transaction on Friday, August 9th. The stock was acquired at an average price of $1.43 per share, for a total transaction of $75,504.00. Following the completion of the acquisition, the chief executive officer now owns 909,793 shares in the company, valued at $1,301,003.99. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Jeffrey S. Bornstein sold 30,000 shares of Eos Energy Enterprises stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $2.62, for a total transaction of $78,600.00. Following the transaction, the director now directly owns 84,929 shares of the company’s stock, valued at $222,513.98. The disclosure for this sale can be found here. Insiders own 4.06% of the company’s stock.

Institutional Trading of Eos Energy Enterprises

Several institutional investors have recently added to or reduced their stakes in EOSE. Ground Swell Capital LLC bought a new stake in Eos Energy Enterprises in the 2nd quarter worth approximately $34,000. Scientech Research LLC purchased a new stake in Eos Energy Enterprises during the second quarter valued at $36,000. Price T Rowe Associates Inc. MD lifted its holdings in Eos Energy Enterprises by 74.4% in the first quarter. Price T Rowe Associates Inc. MD now owns 43,930 shares of the company’s stock valued at $46,000 after acquiring an additional 18,735 shares during the period. Point72 DIFC Ltd purchased a new position in Eos Energy Enterprises in the second quarter worth about $83,000. Finally, Powell Investment Advisors LLC boosted its position in Eos Energy Enterprises by 52.2% in the first quarter. Powell Investment Advisors LLC now owns 70,000 shares of the company’s stock worth $72,000 after purchasing an additional 24,000 shares during the last quarter. 54.87% of the stock is currently owned by hedge funds and other institutional investors.

Eos Energy Enterprises Company Profile

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.