Eos Energy Enterprises (NASDAQ:EOSE) Shares Down 9.5%

Eos Energy Enterprises, Inc. (NASDAQ:EOSE)’s share price traded down 9.5% during mid-day trading on Monday . The company traded as low as $11.81 and last traded at $11.83. 12,576 shares traded hands during trading, a decline of 98% from the average session volume of 756,000 shares. The stock had previously closed at $13.07.

A number of equities research analysts recently issued reports on the stock. Seaport Global Securities assumed coverage on shares of Eos Energy Enterprises in a research note on Thursday, July 15th. They set a “buy” rating and a $27.00 price target on the stock. Seaport Res Ptn reaffirmed a “buy” rating on shares of Eos Energy Enterprises in a research note on Thursday, July 15th. Zacks Investment Research downgraded shares of Eos Energy Enterprises from a “hold” rating to a “sell” rating in a research note on Monday, August 16th. Northland Securities decreased their price target on shares of Eos Energy Enterprises from $27.00 to $20.00 and set an “outperform” rating on the stock in a research note on Thursday, August 12th. Finally, Johnson Rice began coverage on shares of Eos Energy Enterprises in a research report on Thursday. They set a “buy” rating and a $20.00 price objective on the stock. One investment analyst has rated the stock with a sell rating and five have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Buy” and a consensus price target of $26.20.

The company has a debt-to-equity ratio of 0.20, a current ratio of 3.73 and a quick ratio of 3.55. The firm has a market cap of $646.31 million, a P/E ratio of -1.64 and a beta of 1.00. The stock’s 50-day simple moving average is $14.64 and its two-hundred day simple moving average is $16.11.

Eos Energy Enterprises (NASDAQ:EOSE) last posted its quarterly earnings results on Wednesday, August 11th. The company reported ($0.46) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.17) by ($0.29). The firm had revenue of $0.61 million for the quarter, compared to analysts’ expectations of $2.84 million. As a group, sell-side analysts expect that Eos Energy Enterprises, Inc. will post -1.8 earnings per share for the current year.

In other news, major shareholder B. Riley Financial, Inc. sold 25,371 shares of the company’s stock in a transaction dated Thursday, September 9th. The shares were sold at an average price of $13.41, for a total value of $340,225.11. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Over the last 90 days, insiders sold 330,816 shares of company stock worth $4,517,795. Company insiders own 15.10% of the company’s stock.

Institutional investors have recently modified their holdings of the business. New York State Common Retirement Fund bought a new position in Eos Energy Enterprises during the 2nd quarter worth about $269,000. Toroso Investments LLC purchased a new stake in shares of Eos Energy Enterprises during the first quarter valued at about $592,000. Spring Creek Capital LLC lifted its position in shares of Eos Energy Enterprises by 20.7% during the second quarter. Spring Creek Capital LLC now owns 2,538,261 shares of the company’s stock valued at $45,587,000 after buying an additional 435,519 shares during the last quarter. Bank of New York Mellon Corp purchased a new stake in shares of Eos Energy Enterprises during the first quarter valued at about $237,000. Finally, Gabelli Funds LLC lifted its position in shares of Eos Energy Enterprises by 15.2% during the first quarter. Gabelli Funds LLC now owns 69,100 shares of the company’s stock valued at $1,363,000 after buying an additional 9,100 shares during the last quarter. Institutional investors own 46.45% of the company’s stock.

Eos Energy Enterprises Company Profile (NASDAQ:EOSE)

Eos Energy Enterprises, Inc designs, manufactures, and deploys battery storage solutions for utility, commercial and industrial, and renewable energy markets in the United States. The company offers stationary battery storage solutions. Its flagship product is the Eos Znyth DC battery system designed to meet the requirements of the grid-scale energy storage market.

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