Eos Energy Enterprises (NASDAQ:EOSE) Hits New 1-Year Low – Should You Sell?

Shares of Eos Energy Enterprises, Inc. (NASDAQ:EOSE) reached a new 52-week low on Thursday . The stock traded as low as $3.71 and last traded at $3.6860, with a volume of 9021255 shares. The stock had previously closed at $3.98.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on EOSE. TD Cowen upped their price target on Eos Energy Enterprises from $7.00 to $8.00 and gave the company a “hold” rating in a report on Thursday, May 14th. JPMorgan Chase & Co. reduced their price objective on Eos Energy Enterprises from $9.00 to $6.00 and set a “neutral” rating for the company in a report on Thursday, April 16th. Needham & Company LLC assumed coverage on Eos Energy Enterprises in a research report on Friday, May 22nd. They issued a “buy” rating and a $11.00 target price for the company. Stifel Nicolaus decreased their target price on Eos Energy Enterprises from $12.00 to $10.00 and set a “buy” rating for the company in a research report on Monday, July 13th. Finally, Zacks Research upgraded shares of Eos Energy Enterprises from a “strong sell” rating to a “hold” rating in a research note on Tuesday, April 28th. One research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, seven have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, Eos Energy Enterprises presently has an average rating of “Hold” and an average price target of $9.17.

Eos Energy Enterprises Trading Down 6.7%

The business’s 50 day simple moving average is $6.27 and its two-hundred day simple moving average is $8.32. The firm has a market capitalization of $1.18 billion, a PE ratio of -0.52 and a beta of 2.68.

Eos Energy Enterprises (NASDAQ:EOSE) last released its quarterly earnings results on Wednesday, May 13th. The company reported $0.12 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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. As a group, equities research analysts anticipate that Eos Energy Enterprises, Inc. will post -0.3 earnings per share for the current year.

Insider Buying and Selling

In other news, CFO Nathan Kroeker sold 79,309 shares of the company’s stock in a transaction dated Tuesday, July 7th. The shares were sold at an average price of $4.68, for a total transaction of $371,166.12. Following the completion of the sale, the chief financial officer owned 777,110 shares of the company’s stock, valued at $3,636,874.80. This represents a 9.26% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CAO Sumeet Puri sold 8,823 shares of the company’s stock in a transaction dated Tuesday, June 30th. The shares were sold at an average price of $5.86, for a total transaction of $51,702.78. Following the sale, the chief accounting officer directly owned 173,112 shares of the company’s stock, valued at $1,014,436.32. The trade was a 4.85% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold 157,569 shares of company stock valued at $839,328 in the last 90 days. Insiders own 1.73% of the company’s stock.

Institutional Trading of Eos Energy Enterprises

Several large investors have recently added to or reduced their stakes in EOSE. Handelsbanken Fonder AB increased its holdings in Eos Energy Enterprises by 46.3% during the second quarter. Handelsbanken Fonder AB now owns 147,500 shares of the company’s stock valued at $867,000 after buying an additional 46,700 shares during the last quarter. Apella Capital LLC boosted its stake in shares of Eos Energy Enterprises by 170.7% during the 2nd quarter. Apella Capital LLC now owns 39,777 shares of the company’s stock worth $234,000 after acquiring an additional 25,084 shares during the last quarter. Byrne Asset Management LLC purchased a new position in shares of Eos Energy Enterprises during the 2nd quarter worth $142,000. Gainplan LLC grew its position in shares of Eos Energy Enterprises by 53.8% during the 2nd quarter. Gainplan LLC now owns 18,860 shares of the company’s stock valued at $111,000 after acquiring an additional 6,599 shares during the period. Finally, Empowered Funds LLC bought a new stake in shares of Eos Energy Enterprises during the 1st quarter valued at $66,000. 54.87% of the stock is currently owned by institutional investors.

Eos Energy Enterprises Company Profile

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.