Eos Energy Enterprises (NASDAQ:EOSE) Trading Up 6.1% - Here's What Happened

Eos Energy Enterprises, Inc. (NASDAQ:EOSE - Get Free Report) traded up 6.1% during mid-day trading on Friday . The stock traded as high as $3.32 and last traded at $3.32. 2,425,262 shares changed hands during trading, a decline of 64% from the average session volume of 6,703,535 shares. The stock had previously closed at $3.13.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on the stock. Roth Mkm reissued a "buy" rating and set a $4.50 price objective on shares of Eos Energy Enterprises in a research note on Friday, June 28th. Stifel Nicolaus reaffirmed 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 investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $3.67.

Eos Energy Enterprises Stock Performance

The stock has a market cap of $695.15 million, a price-to-earnings ratio of -2.14 and a beta of 2.40. The business's fifty day simple moving average is $2.69 and its 200 day simple moving average is $1.70.

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

Insider Buying and Selling

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, for a total transaction of $75,504.00. Following the completion of the purchase, 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 ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. 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, for a total transaction of $75,504.00. Following the completion of the purchase, 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 ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Jeffrey S. Bornstein sold 30,000 shares of the company'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 completion of the transaction, the director now owns 84,929 shares of the company's stock, valued at approximately $222,513.98. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 4.06% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of EOSE. Ground Swell Capital LLC bought a new position in shares of Eos Energy Enterprises in the second quarter valued at approximately $34,000. Scientech Research LLC bought a new position in shares of Eos Energy Enterprises in the second quarter valued at approximately $36,000. Price T Rowe Associates Inc. MD boosted its holdings in shares of 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 acquiring an additional 18,735 shares in the last quarter. Venture Visionary Partners LLC bought a new position in shares of Eos Energy Enterprises in the third quarter valued at approximately $59,000. Finally, Duncan Williams Asset Management LLC bought a new position in shares of Eos Energy Enterprises in the third quarter valued at approximately $62,000. Institutional investors own 54.87% of the company's stock.

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.