Eos Energy Enterprises (NASDAQ:EOSE) Stock Price Down 11.7% – Time to Sell?

Eos Energy Enterprises, Inc. (NASDAQ:EOSE) shares dropped 11.7% during mid-day trading on Tuesday . The stock traded as low as $6.47 and last traded at $6.48. Approximately 14,805,497 shares changed hands during mid-day trading, a decline of 41% from the average session volume of 25,263,609 shares. The stock had previously closed at $7.34.

Analyst Ratings Changes

Several equities analysts recently commented on the stock. Guggenheim reaffirmed a “neutral” rating and set a $20.00 price target on shares of Eos Energy Enterprises in a research report on Friday, February 27th. JPMorgan Chase & Co. decreased their price target on shares of Eos Energy Enterprises from $9.00 to $6.00 and set a “neutral” rating on the stock in a report on Thursday, April 16th. Wall Street Zen raised shares of Eos Energy Enterprises from a “sell” rating to a “hold” rating in a research note on Sunday. Roth Mkm dropped their price objective on Eos Energy Enterprises from $12.00 to $6.00 and set a “neutral” rating for the company in a report on Friday, February 27th. Finally, B. Riley Financial dropped their price objective on Eos Energy Enterprises from $12.00 to $8.00 and set a “neutral” rating for the company in a report on Thursday, March 5th. Two equities research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, Eos Energy Enterprises presently has an average rating of “Hold” and an average price target of $10.94.

Eos Energy Enterprises Stock Down 4.0%

The business’s 50 day moving average price is $7.37 and its 200-day moving average price is $9.59. The company has a market cap of $1.98 billion, a PE ratio of -0.88 and a beta of 2.62.

Eos Energy Enterprises (NASDAQ:EOSE) last announced its earnings results on Wednesday, May 13th. The company reported $0.12 earnings per share for the quarter, beating the consensus estimate of ($0.22) by $0.34. The firm had revenue of $56.96 million during the quarter, compared to analysts’ expectations of $54.32 million. Equities analysts expect that Eos Energy Enterprises, Inc. will post -0.31 earnings per share for the current year.

Insiders Place Their Bets

In other news, Director Marian Walters sold 7,681 shares of the firm’s stock in a transaction dated Tuesday, May 19th. The stock was sold at an average price of $7.07, for a total transaction of $54,304.67. Following the completion of the sale, the director directly owned 135,334 shares in the company, valued at $956,811.38. This trade represents a 5.37% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 1.73% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the business. State of New Jersey Common Pension Fund D acquired a new stake in shares of Eos Energy Enterprises during the fourth quarter worth approximately $1,834,000. Baker Avenue Asset Management LP bought a new stake in shares of Eos Energy Enterprises in the fourth quarter worth $11,542,000. Vanguard Group Inc. raised its holdings in Eos Energy Enterprises by 19.8% in the fourth quarter. Vanguard Group Inc. now owns 18,616,874 shares of the company’s stock valued at $213,349,000 after acquiring an additional 3,080,012 shares in the last quarter. DNB Asset Management AS raised its holdings in Eos Energy Enterprises by 22.4% in the third quarter. DNB Asset Management AS now owns 1,034,086 shares of the company’s stock valued at $11,778,000 after acquiring an additional 189,039 shares in the last quarter. Finally, Park Avenue Securities LLC bought a new position in Eos Energy Enterprises during the 4th quarter valued at $4,307,000. Hedge funds and other institutional investors own 54.87% of the company’s stock.

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.