Eos Energy Enterprises (NASDAQ:EOSE) Trading Down 4.1% – Time to Sell?

Eos Energy Enterprises, Inc. (NASDAQ:EOSE)’s stock price dropped 4.1% during trading on Monday . The stock traded as low as $2.59 and last traded at $2.59. Approximately 1,011,765 shares changed hands during trading, a decline of 85% from the average daily volume of 6,781,706 shares. The stock had previously closed at $2.70.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on EOSE. Roth Mkm decreased their price objective on shares of Eos Energy Enterprises from $4.50 to $4.00 and set a “buy” rating for the company in a research note on Thursday, November 7th. Stifel Nicolaus reissued a “buy” rating and set a $6.00 price target on shares of Eos Energy Enterprises in a research note on Wednesday, August 21st. Two analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $3.90.

Eos Energy Enterprises Price Performance

The firm has a fifty day moving average of $2.85 and a two-hundred day moving average of $2.03. The stock has a market capitalization of $588.36 million, a P/E ratio of -1.15 and a beta of 2.38.

Insider Activity

In other news, Director Jeffrey S. Bornstein sold 30,000 shares of Eos Energy Enterprises stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $2.62, for a total value of $78,600.00. Following the transaction, the director now directly owns 84,929 shares in the company, valued at approximately $222,513.98. This trade represents a 26.10 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Company insiders own 3.80% of the company’s stock.

Institutional Investors Weigh In On Eos Energy Enterprises

A number of institutional investors have recently added to or reduced their stakes in EOSE. Hollencrest Capital Management increased its stake in Eos Energy Enterprises by 1,000.0% during the 3rd quarter. Hollencrest Capital Management now owns 8,250 shares of the company’s stock valued at $25,000 after purchasing an additional 7,500 shares in the last quarter. WESPAC Advisors LLC acquired a new position in shares of Eos Energy Enterprises in the 3rd quarter valued at $32,000. Ground Swell Capital LLC acquired a new position in shares of Eos Energy Enterprises in the 2nd quarter valued at $34,000. Scientech Research LLC purchased a new position in Eos Energy Enterprises in the 2nd quarter worth $36,000. Finally, Price T Rowe Associates Inc. MD lifted its position in Eos Energy Enterprises by 74.4% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 43,930 shares of the company’s stock worth $46,000 after acquiring an additional 18,735 shares during the period. Institutional investors own 54.87% of the company’s stock.

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.