Eos Energy Enterprises (NASDAQ:EOSE) Shares Gap Up - Time to Buy?

Eos Energy Enterprises, Inc. (NASDAQ:EOSE - Get Free Report) shares gapped up prior to trading on Wednesday . The stock had previously closed at $3.36, but opened at $3.52. Eos Energy Enterprises shares last traded at $3.46, with a volume of 1,674,467 shares trading hands.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on EOSE shares. Roth Mkm reaffirmed a "buy" rating and issued a $4.50 price target on shares of Eos Energy Enterprises in a report on Friday, June 28th. B. Riley upgraded Eos Energy Enterprises to a "hold" rating in a research note on Tuesday, June 25th. Finally, Stifel Nicolaus reiterated a "buy" rating and issued a $6.00 price objective on shares of Eos Energy Enterprises in a research note on Wednesday, August 21st. Two investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $3.67.

Eos Energy Enterprises Price Performance

The stock has a 50 day simple moving average of $2.47 and a two-hundred day simple moving average of $1.60. The company has a market cap of $718.04 million, a PE ratio of -2.30 and a beta of 2.40.

Eos Energy Enterprises (NASDAQ:EOSE - Get Free Report) last released its quarterly earnings results on Tuesday, August 6th. The company reported ($0.30) 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, equities analysts anticipate that Eos Energy Enterprises, Inc. will post -0.78 EPS for the current fiscal year.

Insider Transactions at Eos Energy Enterprises

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 acquired at an average price of $1.43 per share, for a total transaction of $75,504.00. Following the completion of the purchase, the chief executive officer now directly owns 909,793 shares of the company's stock, valued at $1,301,003.99. This trade represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Eos Energy Enterprises news, CEO Joe Mastrangelo acquired 52,800 shares of the company's stock in a transaction that occurred on Friday, August 9th. The shares were purchased at an average price 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 of the company's stock, valued at approximately $1,301,003.99. The trade was a 0.00 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Jeffrey S. Bornstein sold 30,000 shares of the company'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 transaction, the director now directly owns 84,929 shares in the company, valued at $222,513.98. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 4.06% of the company's stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the business. Duncan Williams Asset Management LLC acquired a new position in Eos Energy Enterprises during the third quarter worth $62,000. Ground Swell Capital LLC acquired a new stake in Eos Energy Enterprises in the second quarter valued at $34,000. Scientech Research LLC acquired a new stake in Eos Energy Enterprises in the second quarter valued at $36,000. Price T Rowe Associates Inc. MD grew 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 purchasing an additional 18,735 shares during the last quarter. Finally, Point72 DIFC Ltd acquired a new stake in Eos Energy Enterprises in the second quarter valued at $83,000. 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.