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

Eos Energy Enterprises, Inc. (NASDAQ:EOSE)’s stock price gapped up before the market opened on Wednesday . The stock had previously closed at $12.22, but opened at $13.04. Eos Energy Enterprises shares last traded at $11.3060, with a volume of 4,600,365 shares traded.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on EOSE. Guggenheim increased their price objective on Eos Energy Enterprises from $10.00 to $20.00 and gave the stock a “buy” rating in a research report on Wednesday, October 22nd. B. Riley Financial increased their price target on shares of Eos Energy Enterprises from $8.00 to $12.00 and gave the stock a “neutral” rating in a report on Tuesday, November 11th. JPMorgan Chase & Co. began coverage on Eos Energy Enterprises in a research note on Wednesday, December 17th. They set a “neutral” rating and a $16.00 target price for the company. Roth Mkm set a $12.00 price objective on Eos Energy Enterprises and gave the stock a “neutral” rating in a research report on Wednesday, October 22nd. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Eos Energy Enterprises in a research note on Thursday, January 22nd. Two investment analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $13.50.

Eos Energy Enterprises Stock Performance

The stock has a market cap of $3.20 billion, a PE ratio of -1.33 and a beta of 2.13. The business has a 50-day moving average of $14.19 and a 200 day moving average of $12.17.

Insiders Place Their Bets

In other Eos Energy Enterprises news, CFO Nathan Kroeker sold 50,000 shares of the stock in a transaction on Monday, January 26th. The stock was sold at an average price of $16.04, for a total transaction of $802,000.00. Following the transaction, the chief financial officer owned 662,512 shares of the company’s stock, valued at $10,626,692.48. This represents a 7.02% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, Director Marian Walters sold 50,000 shares of Eos Energy Enterprises stock in a transaction on Thursday, December 4th. The shares were sold at an average price of $15.81, for a total value of $790,500.00. Following the completion of the sale, the director directly owned 135,334 shares of the company’s stock, valued at approximately $2,139,630.54. This represents a 26.98% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders have sold 907,801 shares of company stock valued at $13,803,507. Insiders own 3.30% of the company’s stock.

Institutional Investors Weigh In On Eos Energy Enterprises

Several hedge funds have recently modified their holdings of EOSE. Vanguard Group Inc. raised its stake in Eos Energy Enterprises by 19.8% during the fourth quarter. Vanguard Group Inc. now owns 18,616,874 shares of the company’s stock worth $213,349,000 after purchasing an additional 3,080,012 shares during the period. Rubric Capital Management LP acquired a new stake in shares of Eos Energy Enterprises during the 3rd quarter worth $117,317,000. State Street Corp raised its position in shares of Eos Energy Enterprises by 6.1% in the 4th quarter. State Street Corp now owns 7,689,841 shares of the company’s stock worth $88,126,000 after buying an additional 443,809 shares during the period. Geode Capital Management LLC raised its position in shares of Eos Energy Enterprises by 16.1% in the 4th quarter. Geode Capital Management LLC now owns 7,205,507 shares of the company’s stock worth $82,587,000 after buying an additional 998,332 shares during the period. Finally, Electron Capital Partners LLC boosted its holdings in Eos Energy Enterprises by 39.9% in the second quarter. Electron Capital Partners LLC now owns 6,979,422 shares of the company’s stock valued at $35,735,000 after acquiring an additional 1,989,144 shares during the last quarter. 54.87% of the stock is owned by institutional investors and hedge funds.

About Eos Energy Enterprises

Eos Energy Enterprises specializes in the development and deployment of scalable, long-duration energy storage systems designed to support the integration of renewable power and enhance grid reliability. The company’s core technology centers on its proprietary zinc hybrid cathode (Znyth™) battery platform, which aims to deliver safe, low-cost, and durable performance for utility, commercial and industrial, and microgrid applications.

The company’s flagship product, the Aurora™ energy storage system, combines its Znyth™ cells with modular power conversion and controls to offer flexible capacity ranging from one to three hours of discharge duration.