Eos Energy Enterprises (NASDAQ:EOSE) Trading 8.2% Higher - Time to Buy?

Eos Energy Enterprises, Inc. (NASDAQ:EOSE - Get Free Report) traded up 8.2% on Tuesday . The company traded as high as $3.19 and last traded at $3.16. 4,187,078 shares were traded during trading, a decline of 37% from the average session volume of 6,695,864 shares. The stock had previously closed at $2.92.

Analyst Ratings Changes

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

Eos Energy Enterprises Trading Up 8.9 %

The company has a fifty day moving average of $2.84 and a 200-day moving average of $1.83. The stock has a market cap of $689.14 million, a PE ratio of -4.61 and a beta of 2.38.

Eos Energy Enterprises (NASDAQ:EOSE - Get Free Report) 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 during the quarter, compared to the consensus estimate of $4.38 million. As a group, research analysts anticipate that Eos Energy Enterprises, Inc. will post -0.78 earnings per share for the current fiscal year.

Insider Activity

In other news, CEO Joe Mastrangelo acquired 52,800 shares of the stock in a transaction that occurred on Friday, August 9th. The shares were purchased at an average cost of $1.43 per share, for a total transaction of $75,504.00. Following the transaction, the chief executive officer now directly owns 909,793 shares in the company, valued at approximately $1,301,003.99. This represents a 0.00 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, CEO Joe Mastrangelo purchased 52,800 shares of the company's stock in a transaction on Friday, August 9th. The stock was bought 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 owns 909,793 shares of the company's stock, valued at approximately $1,301,003.99. This represents a 0.00 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Jeffrey S. Bornstein sold 30,000 shares of the company's stock in a transaction on Thursday, September 12th. The shares were sold at an average price of $2.62, for a total value of $78,600.00. Following the completion of 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 disclosure for this sale can be found here. Corporate insiders own 3.80% of the company's stock.

Hedge Funds Weigh In On Eos Energy Enterprises

Institutional investors have recently modified their holdings of the company. Vanguard Group Inc. grew its stake in Eos Energy Enterprises by 6.6% in the 1st 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 during the period. Elevatus Welath Management boosted its position in shares of Eos Energy Enterprises by 50.0% in the first quarter. Elevatus Welath Management now owns 96,267 shares of the company's stock worth $99,000 after acquiring an additional 32,090 shares during the last quarter. American International Group Inc. increased its holdings in shares of Eos Energy Enterprises by 41.2% during the 1st quarter. American International Group Inc. now owns 75,555 shares of the company's stock worth $78,000 after buying an additional 22,056 shares during the last quarter. PEAK6 Investments LLC acquired a new stake in Eos Energy Enterprises in the 1st quarter valued at $103,000. Finally, Price T Rowe Associates Inc. MD increased its position in shares of Eos Energy Enterprises by 74.4% during the first quarter. Price T Rowe Associates Inc. MD now owns 43,930 shares of the company's stock worth $46,000 after acquiring an additional 18,735 shares during the last quarter. Institutional investors and hedge funds 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.

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