Eos Energy Enterprises (NASDAQ:EOSE) Shares Gap Up - Still a Buy?

Eos Energy Enterprises, Inc. (NASDAQ:EOSE - Get Free Report) shares gapped up prior to trading on Friday . The stock had previously closed at $3.11, but opened at $3.38. Eos Energy Enterprises shares last traded at $3.49, with a volume of 1,701,464 shares changing hands.

Analysts Set New Price Targets

Separately, Stifel Nicolaus restated a "buy" rating and set a $6.00 price target 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 assigned a buy rating to the stock. According to MarketBeat.com, Eos Energy Enterprises currently has a consensus rating of "Moderate Buy" and an average target price of $3.67.

Eos Energy Enterprises Stock Up 1.3 %

The firm has a market capitalization of $682.64 million, a price-to-earnings ratio of -4.90 and a beta of 2.40. The business has a 50-day moving average of $2.82 and a two-hundred day moving average of $1.79.

Eos Energy Enterprises (NASDAQ:EOSE - Get Free Report) last issued its quarterly earnings data 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 analysts' expectations of $4.38 million. Equities 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 other news, CEO Joe Mastrangelo acquired 52,800 shares of the stock in a transaction that occurred 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 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 ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at this link. In related news, CEO Joe Mastrangelo bought 52,800 shares of the company's stock in a transaction that occurred on Friday, August 9th. The shares were 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 of the company's stock, valued at approximately $1,301,003.99. The trade was a 0.00 % increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Jeffrey S. Bornstein sold 30,000 shares of the business's stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $2.62, for a total transaction of $78,600.00. Following the transaction, 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.

Institutional Investors Weigh In On Eos Energy Enterprises

Hedge funds have recently made changes to their positions in the stock. Hollencrest Capital Management lifted its holdings in shares of Eos Energy Enterprises by 1,000.0% during the third quarter. Hollencrest Capital Management now owns 8,250 shares of the company's stock worth $25,000 after purchasing an additional 7,500 shares during the period. Focused Wealth Management Inc bought a new stake in shares of Eos Energy Enterprises in the 3rd quarter valued at $46,000. Venture Visionary Partners LLC bought a new stake in Eos Energy Enterprises in the third quarter valued at $59,000. Duncan Williams Asset Management LLC acquired a new position in Eos Energy Enterprises during the 3rd quarter worth approximately $62,000. Finally, Ground Swell Capital LLC acquired a new position in shares of Eos Energy Enterprises during the second quarter worth approximately $34,000. 54.87% of the stock is currently owned by institutional investors and hedge funds.

About Eos Energy Enterprises

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.