Eos Energy Enterprises (NASDAQ:EOSE) Sets New 52-Week High at $3.07

Eos Energy Enterprises, Inc. (NASDAQ:EOSE)’s share price hit a new 52-week high during mid-day trading on Thursday . The company traded as high as $3.07 and last traded at $3.03, with a volume of 657407 shares. The stock had previously closed at $2.96.

Wall Street Analyst Weigh In

EOSE has been the subject of a number of recent analyst reports. Roth Mkm restated a “buy” rating and issued a $4.50 price objective on shares of Eos Energy Enterprises in a research report on Friday, June 28th. Stifel Nicolaus reaffirmed a “buy” rating and set a $6.00 price objective on shares of Eos Energy Enterprises in a report on Wednesday, August 21st. Finally, B. Riley upgraded Eos Energy Enterprises to a “hold” rating in a research report on Tuesday, June 25th. 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 data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $3.67.

Eos Energy Enterprises Stock Up 1.7 %

The firm has a fifty day moving average of $2.23 and a 200-day moving average of $1.46. The stock has a market capitalization of $626.47 million, a price-to-earnings ratio of -1.90 and a beta of 2.40.

Eos Energy Enterprises (NASDAQ:EOSE) last released its quarterly earnings results on Tuesday, August 6th. The company reported ($0.30) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.19) by ($0.11). The firm had revenue of $0.90 million during the quarter, compared to analyst estimates of $4.38 million. As a group, research analysts forecast that Eos Energy Enterprises, Inc. will post -0.78 EPS for the current fiscal year.

Insider Activity

In related news, CEO Joe Mastrangelo purchased 52,800 shares of the business’s stock in a transaction dated Friday, August 9th. The stock was bought at an average cost of $1.43 per share, with a total value of $75,504.00. Following the completion of the acquisition, the chief executive officer now directly owns 909,793 shares in the company, valued at approximately $1,301,003.99. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other news, CEO Joe Mastrangelo acquired 52,800 shares of the business’s stock in a transaction dated Friday, August 9th. The stock was acquired at an average price of $1.43 per share, with a total value of $75,504.00. Following the completion of the transaction, the chief executive officer now directly owns 909,793 shares in the company, valued at approximately $1,301,003.99. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Jeffrey S. Bornstein sold 30,000 shares of the company’s stock in a transaction that occurred on 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 in the company, valued at approximately $222,513.98. The disclosure for this sale can be found here. Company insiders own 4.06% of the company’s stock.

Institutional Investors Weigh In On Eos Energy Enterprises

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Electron Capital Partners LLC lifted its stake in shares of Eos Energy Enterprises by 226.6% in the 4th quarter. Electron Capital Partners LLC now owns 6,958,125 shares of the company’s stock valued at $7,584,000 after purchasing an additional 4,827,586 shares in the last quarter. Millennium Management LLC grew its stake in Eos Energy Enterprises by 5,744.5% during the second quarter. Millennium Management LLC now owns 3,164,017 shares of the company’s stock worth $4,018,000 after buying an additional 3,109,880 shares during the period. NewEdge Advisors LLC increased its position in shares of Eos Energy Enterprises by 30.2% in the second quarter. NewEdge Advisors LLC now owns 2,588,823 shares of the company’s stock worth $3,288,000 after acquiring an additional 600,143 shares in the last quarter. Vanguard Group Inc. increased its position in shares of Eos Energy Enterprises by 6.6% in the first quarter. Vanguard Group Inc. now owns 9,375,916 shares of the company’s stock worth $9,657,000 after acquiring an additional 580,022 shares in the last quarter. Finally, B. Riley Wealth Advisors Inc. raised its stake in shares of Eos Energy Enterprises by 940.6% in the 1st quarter. B. Riley Wealth Advisors Inc. now owns 275,765 shares of the company’s stock valued at $284,000 after acquiring an additional 249,265 shares during the period. Hedge funds and other institutional investors own 54.87% of the company’s stock.

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.