Shares of Eos Energy Enterprises, Inc. (NASDAQ:EOSE – Get Free Report) shot up 10.9% during mid-day trading on Wednesday . The company traded as high as $7.72 and last traded at $7.5550. 9,333,272 shares changed hands during mid-day trading, a decline of 63% from the average daily volume of 24,985,471 shares. The stock had previously closed at $6.81.
Analyst Upgrades and Downgrades
EOSE has been the topic of several recent analyst reports. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Eos Energy Enterprises in a research note on Tuesday, April 21st. Zacks Research raised Eos Energy Enterprises from a “strong sell” rating to a “hold” rating in a research note on Tuesday, April 28th. Roth Mkm lowered their price target on Eos Energy Enterprises from $12.00 to $6.00 and set a “neutral” rating on the stock in a report on Friday, February 27th. JPMorgan Chase & Co. cut their price objective on shares of Eos Energy Enterprises from $9.00 to $6.00 and set a “neutral” rating on the stock in a research note on Thursday, April 16th. Finally, Wall Street Zen downgraded shares of Eos Energy Enterprises from a “hold” rating to a “sell” rating in a report on Saturday, June 13th. Two research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $10.94.
Get Our Latest Stock Analysis on EOSE
Eos Energy Enterprises Stock Up 0.7%
Eos Energy Enterprises (NASDAQ:EOSE – Get Free Report) last released its earnings results on Wednesday, May 13th. The company reported $0.12 earnings per share 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 analyst estimates of $54.32 million. Analysts anticipate that Eos Energy Enterprises, Inc. will post -0.31 earnings per share for the current fiscal year.
Insider Buying and Selling at Eos Energy Enterprises
In other news, Director Marian Walters sold 7,681 shares of the company’s stock in a transaction on Tuesday, May 19th. The stock was sold at an average price of $7.07, for a total value of $54,304.67. Following the completion of the sale, the director owned 135,334 shares in the company, valued at $956,811.38. This represents a 5.37% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. 1.73% of the stock is currently owned by company insiders.
Institutional Investors Weigh In On Eos Energy Enterprises
Hedge funds and other institutional investors have recently bought and sold shares of the business. Rubric Capital Management LP acquired a new position in shares of Eos Energy Enterprises in the 3rd quarter worth approximately $117,317,000. Vanguard Group Inc. lifted its stake in Eos Energy Enterprises by 19.8% during the fourth quarter. Vanguard Group Inc. now owns 18,616,874 shares of the company’s stock valued at $213,349,000 after purchasing an additional 3,080,012 shares during the last quarter. Engineers Gate Manager LP bought a new stake in Eos Energy Enterprises during the second quarter worth approximately $11,840,000. Vaughan Nelson Investment Management L.P. bought a new stake in Eos Energy Enterprises during the fourth quarter worth approximately $22,330,000. Finally, Renaissance Technologies LLC acquired a new position in Eos Energy Enterprises in the first quarter worth approximately $9,152,000. 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.
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