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

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

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on EOSE shares. Roth Mkm reduced 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 reiterated 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 equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $3.90.

Eos Energy Enterprises Trading Up 3.3 %

The stock’s fifty day simple moving average is $2.85 and its 200-day simple moving average is $2.00.

Insider Activity at Eos Energy Enterprises

In other news, Director Jeffrey S. Bornstein sold 30,000 shares of the firm’s stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $2.62, for a total transaction of $78,600.00. Following the completion of the transaction, the director now directly owns 84,929 shares of the company’s stock, valued at approximately $222,513.98. This trade represents a 26.10 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 3.80% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. raised its holdings in shares of Eos Energy Enterprises by 6.6% in the 1st quarter. Vanguard Group Inc. now owns 9,375,916 shares of the company’s stock worth $9,657,000 after buying an additional 580,022 shares in the last quarter. American International Group Inc. lifted its holdings in shares of Eos Energy Enterprises by 41.2% during the first quarter. American International Group Inc. now owns 75,555 shares of the company’s stock valued at $78,000 after acquiring an additional 22,056 shares during the period. PEAK6 Investments LLC acquired a new stake in shares of Eos Energy Enterprises in the 1st quarter valued at $103,000. Price T Rowe Associates Inc. MD grew its holdings in shares of Eos Energy Enterprises by 74.4% in 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. Finally, B. Riley Wealth Advisors Inc. increased its position in shares of Eos Energy Enterprises by 940.6% during the 1st quarter. B. Riley Wealth Advisors Inc. now owns 275,765 shares of the company’s stock worth $284,000 after purchasing an additional 249,265 shares in the last quarter. Institutional investors own 54.87% of the company’s stock.

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.