Eos Energy Enterprises (NASDAQ:EOSE) Shares Gap Down – Time to Sell?

Eos Energy Enterprises, Inc. (NASDAQ:EOSE)’s stock price gapped down prior to trading on Wednesday . The stock had previously closed at $3.18, but opened at $2.67. Eos Energy Enterprises shares last traded at $2.48, with a volume of 3,798,235 shares changing hands.

Analysts Set New Price Targets

Separately, Stifel Nicolaus reaffirmed a “buy” rating and issued a $6.00 price objective on shares of Eos Energy Enterprises in a research report on Wednesday, August 21st. Two equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $3.67.

Eos Energy Enterprises Stock Down 19.8 %

The firm has a market cap of $552.61 million, a PE ratio of -3.70 and a beta of 2.38. The stock has a 50 day moving average price of $2.86 and a two-hundred day moving average price of $1.85.

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

Insider Activity

In related news, Director Jeffrey S. Bornstein sold 30,000 shares of the firm’s stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $2.62, for a total value of $78,600.00. Following the completion of the transaction, the director now owns 84,929 shares in the company, valued at $222,513.98. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. In related news, Director Jeffrey S. Bornstein sold 30,000 shares of the company’s stock in a transaction that occurred on Thursday, September 12th. The stock was sold at an average price of $2.62, for a total value of $78,600.00. Following the sale, the director now owns 84,929 shares in the company, valued at $222,513.98. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Joe Mastrangelo purchased 52,800 shares of Eos Energy Enterprises stock in a transaction on Friday, August 9th. The shares were acquired at an average cost 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 $1,301,003.99. The trade was a 0.00 % increase in their position. The disclosure for this purchase can be found here. Corporate insiders own 3.80% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in EOSE. Vanguard Group Inc. raised its stake in shares of Eos Energy Enterprises by 6.6% during the 1st quarter. Vanguard Group Inc. now owns 9,375,916 shares of the company’s stock valued at $9,657,000 after buying an additional 580,022 shares during the last quarter. Elevatus Welath Management lifted its holdings in Eos Energy Enterprises by 50.0% in the first quarter. Elevatus Welath Management now owns 96,267 shares of the company’s stock valued at $99,000 after acquiring an additional 32,090 shares during the period. American International Group Inc. lifted its holdings in Eos Energy Enterprises by 41.2% in the first quarter. American International Group Inc. now owns 75,555 shares of the company’s stock valued at $78,000 after acquiring an additional 22,056 shares during the period. PEAK6 Investments LLC purchased a new stake in Eos Energy Enterprises in the 1st quarter worth approximately $103,000. Finally, Price T Rowe Associates Inc. MD grew its stake in shares of Eos Energy Enterprises by 74.4% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 43,930 shares of the company’s stock worth $46,000 after purchasing an additional 18,735 shares during the period. 54.87% of the stock is currently owned by institutional investors and hedge funds.

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.