Eos Energy Enterprises (NASDAQ:EOSE) Reaches New 12-Month High at $3.07

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

Analyst Upgrades and Downgrades

EOSE has been the subject of a number of research reports. Roth Mkm restated a “buy” rating and set a $4.50 target price on shares of Eos Energy Enterprises in a research report on Friday, June 28th. Stifel Nicolaus reissued a “buy” rating and issued a $6.00 price objective on shares of Eos Energy Enterprises in a report on Wednesday, August 21st. Finally, B. Riley raised Eos Energy Enterprises to a “hold” rating in a report on Tuesday, June 25th. Two investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $3.67.

Eos Energy Enterprises Stock Performance

The stock has a market capitalization of $626.47 million, a price-to-earnings ratio of -1.90 and a beta of 2.40. The business has a 50-day moving average of $2.23 and a 200-day moving average of $1.46.

Eos Energy Enterprises (NASDAQ:EOSE) last posted its quarterly earnings data on Tuesday, August 6th. The company reported ($0.30) 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. Equities analysts predict that Eos Energy Enterprises, Inc. will post -0.78 earnings per share for the current fiscal year.

Insider Buying and Selling

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

Hedge Funds Weigh In On Eos Energy Enterprises

Several hedge funds have recently made changes to their positions in EOSE. Ground Swell Capital LLC purchased a new stake in Eos Energy Enterprises in the second quarter valued at approximately $34,000. Scientech Research LLC acquired a new stake in Eos Energy Enterprises during the 2nd quarter worth $36,000. Price T Rowe Associates Inc. MD grew 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 purchasing an additional 18,735 shares during the last quarter. Powell Investment Advisors LLC increased its stake in Eos Energy Enterprises by 52.2% in the first quarter. Powell Investment Advisors LLC now owns 70,000 shares of the company’s stock valued at $72,000 after purchasing an additional 24,000 shares during the period. Finally, American International Group Inc. raised its holdings in shares of Eos Energy Enterprises by 41.2% in the first quarter. American International Group Inc. now owns 75,555 shares of the company’s stock valued at $78,000 after buying an additional 22,056 shares during the last quarter. Hedge funds and other 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.