Eos Energy Enterprises (NASDAQ:EOSE) Shares Down 4.4%

Eos Energy Enterprises, Inc. (NASDAQ:EOSE - Get Free Report) was down 4.4% during mid-day trading on Monday . The company traded as low as $2.55 and last traded at $2.61. Approximately 2,801,106 shares traded hands during trading, a decline of 58% from the average daily volume of 6,727,537 shares. The stock had previously closed at $2.73.

Analyst Ratings Changes

A number of equities research analysts have weighed in on EOSE shares. B. Riley upgraded shares of Eos Energy Enterprises to a "hold" rating in a report on Tuesday, June 25th. Roth Mkm restated a "buy" rating and issued a $4.50 price target on shares of Eos Energy Enterprises in a research note on Friday, June 28th. Finally, Stifel Nicolaus reaffirmed a "buy" rating and set a $6.00 price objective 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 company's stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $3.67.

Eos Energy Enterprises Stock Up 0.7 %

The stock has a market cap of $572.35 million, a PE ratio of -1.76 and a beta of 2.39. The stock's fifty day moving average price is $2.08 and its 200 day moving average price is $1.33.

Eos Energy Enterprises (NASDAQ:EOSE - Get Free Report) last released its quarterly earnings data on Tuesday, August 6th. The company reported ($0.30) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.19) by ($0.11). The company had revenue of $0.90 million during the quarter, compared to analyst estimates of $4.38 million. On average, equities research analysts expect that Eos Energy Enterprises, Inc. will post -0.78 earnings per share for the current fiscal year.

Insider Activity at Eos Energy Enterprises

In other Eos Energy Enterprises news, CEO Joe Mastrangelo bought 52,800 shares of the firm's stock in a transaction on Friday, August 9th. The stock was acquired at an average price of $1.43 per share, with a total value of $75,504.00. Following the transaction, the chief executive officer now owns 909,793 shares in the company, valued at $1,301,003.99. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In related news, CEO Joe Mastrangelo bought 52,800 shares of the firm's stock in a transaction on Friday, August 9th. The stock was acquired at an average cost of $1.43 per share, for a total transaction of $75,504.00. Following the purchase, the chief executive officer now owns 909,793 shares in the company, valued at $1,301,003.99. The acquisition was disclosed in a filing with the SEC, which is available through this link. Also, Director Jeffrey S. Bornstein sold 30,000 shares of the 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 transaction, the director now directly owns 84,929 shares in the company, valued at $222,513.98. The disclosure for this sale can be found here. 4.06% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Eos Energy Enterprises

Large investors have recently made changes to their positions in the company. Vanguard Group Inc. boosted its holdings in shares of Eos Energy Enterprises by 6.6% in the first quarter. Vanguard Group Inc. now owns 9,375,916 shares of the company's stock worth $9,657,000 after buying an additional 580,022 shares during the last quarter. Evercore Wealth Management LLC boosted its stake in shares of Eos Energy Enterprises by 31.8% during the 4th quarter. Evercore Wealth Management LLC now owns 145,000 shares of the company's stock worth $158,000 after acquiring an additional 35,000 shares during the last quarter. Electron Capital Partners LLC grew its position in shares of Eos Energy Enterprises by 226.6% during the 4th quarter. Electron Capital Partners LLC now owns 6,958,125 shares of the company's stock valued at $7,584,000 after acquiring an additional 4,827,586 shares during the period. Black Maple Capital Management LP increased its stake in shares of Eos Energy Enterprises by 227.0% in the 4th quarter. Black Maple Capital Management LP now owns 151,248 shares of the company's stock worth $165,000 after purchasing an additional 105,000 shares in the last quarter. Finally, B. Riley Wealth Advisors Inc. increased its stake in shares of Eos Energy Enterprises by 940.6% in the 1st quarter. B. Riley Wealth Advisors Inc. now owns 275,765 shares of the company's stock worth $284,000 after purchasing an additional 249,265 shares in the last quarter. 54.87% of the stock is currently owned by institutional investors.

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.