Eos Energy Enterprises (NASDAQ:EOSE) Sets New 12-Month High – Still a Buy?

Shares of Eos Energy Enterprises, Inc. (NASDAQ:EOSE) reached a new 52-week high during mid-day trading on Thursday . The company traded as high as $3.07 and last traded at $3.03, with a volume of 657407 shares trading hands. The stock had previously closed at $2.96.

Analyst Upgrades and Downgrades

Several research firms have recently commented on EOSE. Stifel Nicolaus restated a “buy” rating and set a $6.00 price target on shares of Eos Energy Enterprises in a research report on Wednesday, August 21st. B. Riley raised shares of Eos Energy Enterprises to a “hold” rating in a research note on Tuesday, June 25th. Finally, 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. Two equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, Eos Energy Enterprises has a consensus rating of “Moderate Buy” and a consensus price target of $3.67.

Eos Energy Enterprises Trading Down 1.6 %

The stock has a market cap of $651.44 million, a P/E ratio of -2.01 and a beta of 2.40. The stock’s 50-day moving average is $2.26 and its 200-day moving average is $1.48.

Eos Energy Enterprises (NASDAQ:EOSE) last posted 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 firm had revenue of $0.90 million for the quarter, compared to analyst estimates of $4.38 million. On average, equities analysts forecast that Eos Energy Enterprises, Inc. will post -0.78 EPS for the current year.

Insider Activity

In other news, CEO Joe Mastrangelo acquired 52,800 shares of the company’s stock in a transaction dated Friday, August 9th. The shares were bought at an average price of $1.43 per share, with a total value of $75,504.00. Following the purchase, the chief executive officer now owns 909,793 shares of the company’s stock, valued at approximately $1,301,003.99. This represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other Eos Energy Enterprises news, CEO Joe Mastrangelo acquired 52,800 shares of the stock in a transaction dated Friday, August 9th. The shares were bought at an average price of $1.43 per share, with a total value of $75,504.00. Following the purchase, the chief executive officer now directly owns 909,793 shares of the company’s stock, valued at approximately $1,301,003.99. This trade represents a 0.00 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Jeffrey S. Bornstein sold 30,000 shares of the business’s stock in a transaction that occurred on Thursday, September 12th. The stock was sold at an average price of $2.62, for a total transaction of $78,600.00. Following the completion of the sale, the director now owns 84,929 shares in the company, valued at $222,513.98. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 4.06% of the stock is owned by insiders.

Institutional Investors Weigh In On Eos Energy Enterprises

Several large investors have recently modified their holdings of EOSE. Ground Swell Capital LLC purchased a new stake in shares of Eos Energy Enterprises during the second quarter valued at $34,000. Scientech Research LLC acquired a new position in shares of Eos Energy Enterprises in the second quarter worth about $36,000. Price T Rowe Associates Inc. MD boosted its holdings in shares of Eos Energy Enterprises by 74.4% in the first quarter. Price T Rowe Associates Inc. MD now owns 43,930 shares of the company’s stock worth $46,000 after buying an additional 18,735 shares during the period. Duncan Williams Asset Management LLC purchased a new position in shares of Eos Energy Enterprises in the third quarter worth approximately $62,000. Finally, Powell Investment Advisors LLC raised its holdings in shares of Eos Energy Enterprises by 52.2% during the first quarter. Powell Investment Advisors LLC now owns 70,000 shares of the company’s stock valued at $72,000 after acquiring an additional 24,000 shares during the period. 54.87% of the stock is owned by institutional investors.

Eos Energy Enterprises Company Profile

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.