Eos Energy Enterprises, Inc. (NASDAQ:EOSE) Short Interest Up 5.4% in October

Eos Energy Enterprises, Inc. (NASDAQ:EOSE) was the target of a large growth in short interest during the month of October. As of October 31st, there was short interest totalling 41,330,000 shares, a growth of 5.4% from the October 15th total of 39,210,000 shares. Based on an average daily volume of 8,260,000 shares, the short-interest ratio is presently 5.0 days.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the company. Evercore ISI lifted their price objective on Eos Energy Enterprises from $4.00 to $17.00 and gave the stock an “outperform” rating in a report on Friday, September 8th. Seaport Res Ptn restated a “buy” rating on shares of Eos Energy Enterprises in a research note on Friday, July 28th. Stifel Nicolaus lifted their target price on shares of Eos Energy Enterprises from $13.00 to $15.00 and gave the company a “buy” rating in a research report on Friday, September 1st. Guggenheim raised shares of Eos Energy Enterprises from a “neutral” rating to a “buy” rating and set a $10.00 price target for the company in a research report on Friday, September 1st. Finally, B. Riley cut their price target on shares of Eos Energy Enterprises from $5.00 to $2.00 and set a “neutral” rating for the company in a research note on Wednesday, November 8th. Two equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $9.30.

Insider Buying and Selling

In other Eos Energy Enterprises news, Director Claude Demby sold 20,143 shares of Eos Energy Enterprises stock in a transaction that occurred on Thursday, September 7th. The stock was sold at an average price of $2.78, for a total value of $55,997.54. Following the transaction, the director now directly owns 62,012 shares of the company’s stock, valued at approximately $172,393.36. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In related news, CEO Joe Mastrangelo acquired 36,500 shares of the business’s stock in a transaction dated Thursday, September 21st. The stock was acquired at an average price of $2.05 per share, with a total value of $74,825.00. Following the completion of the transaction, the chief executive officer now owns 590,799 shares of the company’s stock, valued at $1,211,137.95. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Claude Demby sold 20,143 shares of the stock in a transaction dated Thursday, September 7th. The shares were sold at an average price of $2.78, for a total transaction of $55,997.54. Following the completion of the sale, the director now owns 62,012 shares of the company’s stock, valued at approximately $172,393.36. The disclosure for this sale can be found here. 7.09% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the business. Metropolitan Life Insurance Co NY acquired a new position in Eos Energy Enterprises in the second quarter worth $26,000. Itau Unibanco Holding S.A. bought a new position in shares of Eos Energy Enterprises in the second quarter valued at about $32,000. Cambridge Investment Research Advisors Inc. acquired a new position in Eos Energy Enterprises during the 1st quarter worth about $34,000. Exchange Traded Concepts LLC bought a new stake in Eos Energy Enterprises during the 3rd quarter worth about $35,000. Finally, Bayesian Capital Management LP acquired a new stake in Eos Energy Enterprises in the 1st quarter valued at about $36,000. 65.36% of the stock is owned by institutional investors and hedge funds.

Eos Energy Enterprises Price Performance

Shares of EOSE traded down $0.04 during trading hours on Friday, hitting $1.17. The stock had a trading volume of 5,213,987 shares, compared to its average volume of 6,308,689. Eos Energy Enterprises has a 52 week low of $0.96 and a 52 week high of $5.67. The stock has a market capitalization of $156.77 million, a price-to-earnings ratio of -0.45 and a beta of 2.80. The company’s fifty day moving average is $1.93 and its two-hundred day moving average is $2.61.

Eos Energy Enterprises (NASDAQ:EOSE) last issued its quarterly earnings data on Monday, August 14th. The company reported ($0.60) earnings per share for the quarter, missing the consensus estimate of ($0.35) by ($0.25). The business had revenue of $0.25 million for the quarter, compared to analysts’ expectations of $1.52 million. Equities analysts predict that Eos Energy Enterprises will post -1.72 EPS for the current fiscal year.

Eos Energy Enterprises Company Profile

Eos Energy Enterprises, Inc designs, manufactures, and markets zinc-based energy storage solutions for utility, commercial and industrial, and microgrid markets in the United States. The company's flagship product is the Eos Znyth DC system, a battery that can be used as an alternative to Li-ion batteries.