Eos Energy Enterprises (NASDAQ:EOSE) Hits New 52-Week High – Time to Buy?

Eos Energy Enterprises, Inc. (NASDAQ:EOSE)’s share price hit a new 52-week high during trading on Tuesday . The stock traded as high as $3.32 and last traded at $3.30, with a volume of 2940366 shares changing hands. The stock had previously closed at $3.16.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on EOSE shares. Roth Mkm reiterated a “buy” rating and set a $4.50 price target on shares of Eos Energy Enterprises in a report on Friday, June 28th. Stifel Nicolaus reiterated a “buy” rating and set a $6.00 price objective on shares of Eos Energy Enterprises in a research report on Wednesday, August 21st. Finally, B. Riley raised Eos Energy Enterprises to a “hold” rating in a research note on Tuesday, June 25th. Two research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $3.67.

Eos Energy Enterprises Price Performance

The stock has a market capitalization of $690.98 million, a price-to-earnings ratio of -2.13 and a beta of 2.40. The business has a fifty day moving average of $2.55 and a 200 day moving average of $1.63.

Eos Energy Enterprises (NASDAQ:EOSE) last issued 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 business had revenue of $0.90 million for the quarter, compared to the consensus estimate of $4.38 million. On average, equities research analysts expect that Eos Energy Enterprises, Inc. will post -0.78 EPS for the current year.

Insider Buying and Selling

In other news, Director Jeffrey S. Bornstein sold 30,000 shares of the company’s 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 completion of the sale, the director now directly owns 84,929 shares of the company’s stock, valued at approximately $222,513.98. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, CEO Joe Mastrangelo acquired 52,800 shares of the business’s stock in a transaction that occurred on Friday, August 9th. The shares were acquired at an average cost 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. The trade was a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Jeffrey S. Bornstein sold 30,000 shares of Eos Energy Enterprises stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $2.62, for a total value of $78,600.00. Following the completion of the transaction, 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. Insiders own 4.06% of the company’s stock.

Institutional Trading of Eos Energy Enterprises

Several institutional investors have recently made changes to their positions in EOSE. Millennium Management LLC raised its position in Eos Energy Enterprises by 5,744.5% in the 2nd quarter. Millennium Management LLC now owns 3,164,017 shares of the company’s stock valued at $4,018,000 after purchasing an additional 3,109,880 shares during the last quarter. Vanguard Group Inc. increased its holdings in Eos Energy Enterprises by 6.6% in the first quarter. Vanguard Group Inc. now owns 9,375,916 shares of the company’s stock valued at $9,657,000 after purchasing an additional 580,022 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of Eos Energy Enterprises in the 2nd quarter valued at approximately $216,000. B. Riley Wealth Advisors Inc. increased its stake in Eos Energy Enterprises by 940.6% in the first quarter. B. Riley Wealth Advisors Inc. now owns 275,765 shares of the company’s stock valued at $284,000 after purchasing an additional 249,265 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD raised its stake 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 buying an additional 18,735 shares during the period. 54.87% of the stock is currently owned by institutional investors and hedge funds.

About Eos Energy Enterprises

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.