Eos Energy Enterprises (NASDAQ:EOSE) Shares Up 8.5% – What’s Next?

Eos Energy Enterprises, Inc. (NASDAQ:EOSE)’s stock price traded up 8.5% on Thursday . The company traded as high as $16.03 and last traded at $16.0420. 14,295,915 shares were traded during mid-day trading, an increase of 0% from the average session volume of 14,282,180 shares. The stock had previously closed at $14.79.

Wall Street Analyst Weigh In

Several research firms have issued reports on EOSE. B. Riley upped their price objective on Eos Energy Enterprises from $8.00 to $12.00 and gave the stock a “neutral” rating in a report on Tuesday, November 11th. Zacks Research downgraded Eos Energy Enterprises from a “hold” rating to a “strong sell” rating in a research report on Wednesday, October 29th. Stifel Nicolaus lifted their price objective on Eos Energy Enterprises from $10.00 to $22.00 and gave the stock a “buy” rating in a research report on Wednesday, October 15th. Roth Capital set a $12.00 target price on shares of Eos Energy Enterprises and gave the company a “neutral” rating in a research report on Wednesday, October 22nd. Finally, Guggenheim lifted their price target on shares of Eos Energy Enterprises from $10.00 to $20.00 and gave the stock a “buy” rating in a research report on Wednesday, October 22nd. Two analysts have rated the stock with a Buy rating, six have assigned a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat, Eos Energy Enterprises currently has an average rating of “Hold” and an average target price of $11.93.

Eos Energy Enterprises Trading Up 11.2%

The company has a market capitalization of $4.74 billion, a P/E ratio of -1.97 and a beta of 2.15. The firm’s 50 day moving average price is $14.86 and its two-hundred day moving average price is $9.24.

Eos Energy Enterprises (NASDAQ:EOSE) last announced its quarterly earnings data on Wednesday, November 5th. The company reported ($2.77) earnings per share for the quarter, missing the consensus estimate of ($0.31) by ($2.46). The firm had revenue of $30.51 million during the quarter, compared to the consensus estimate of $39.55 million. Analysts anticipate that Eos Energy Enterprises, Inc. will post -2.54 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Eos Energy Enterprises news, Director Marian Walters sold 50,000 shares of the business’s stock in a transaction that occurred on Thursday, December 4th. The stock was sold at an average price of $15.81, for a total transaction of $790,500.00. Following the transaction, the director owned 135,334 shares of the company’s stock, valued at $2,139,630.54. The trade was a 26.98% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Russell Monoki Stidolph sold 500,000 shares of the firm’s stock in a transaction that occurred on Friday, December 5th. The shares were sold at an average price of $14.99, for a total value of $7,495,000.00. Following the completion of the sale, the director directly owned 2,153,272 shares of the company’s stock, valued at approximately $32,277,547.28. The trade was a 18.84% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last three months, insiders have sold 816,134 shares of company stock worth $12,262,335. Company insiders own 3.30% of the company’s stock.

Institutional Trading of Eos Energy Enterprises

A number of hedge funds have recently modified their holdings of the stock. Rubric Capital Management LP acquired a new stake in shares of Eos Energy Enterprises during the third quarter worth $117,317,000. Driehaus Capital Management LLC bought a new stake in shares of Eos Energy Enterprises in the first quarter valued at approximately $13,456,000. Geode Capital Management LLC raised its holdings in Eos Energy Enterprises by 101.4% in the 2nd quarter. Geode Capital Management LLC now owns 5,407,930 shares of the company’s stock valued at $27,692,000 after acquiring an additional 2,722,495 shares in the last quarter. Engineers Gate Manager LP acquired a new stake in shares of Eos Energy Enterprises during the 2nd quarter worth $11,840,000. Finally, Vanguard Group Inc. increased its position in shares of Eos Energy Enterprises by 16.7% in the third quarter. Vanguard Group Inc. now owns 15,536,862 shares of the company’s stock worth $176,965,000 after purchasing an additional 2,218,075 shares during the period. Institutional investors and hedge funds 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.