Eos Energy Enterprises (NASDAQ:EOSE) Announces Quarterly Earnings Results, Misses Expectations By $0.88 EPS

Key Points

• Eos Energy Enterprises reported an earnings per share (EPS) of ($1.05), which missed analyst expectations by $0.89, raising concerns about the company's financial performance.
• The company's stock dropped slightly to $5.92, with a market capitalization of $1.35 billion, while insider selling has resulted in a significant drop in ownership by top executives.
• Analysts have mixed ratings for Eos Energy Enterprises, with some raising price targets while others maintain a "hold" rating, indicating uncertainty about the company's future outlook.

Eos Energy Enterprises (NASDAQ:EOSE - Get Free Report) posted its quarterly earnings results on Wednesday. The company reported ($1.05) earnings per share for the quarter, missing the consensus estimate of ($0.17) by ($0.88), Zacks reports. The firm had revenue of $15.24 million for the quarter, compared to analysts' expectations of $24.96 million. Eos Energy Enterprises updated its FY 2025 guidance to EPS.

Eos Energy Enterprises Price Performance

Shares of EOSE stock traded down $0.19 during trading on Friday, reaching $5.51. The company's stock had a trading volume of 13,965,349 shares, compared to its average volume of 15,184,184. The company has a market capitalization of $1.25 billion, a price-to-earnings ratio of -1.06 and a beta of 2.07. The stock's 50-day moving average price is $4.94 and its 200 day moving average price is $4.96. Eos Energy Enterprises has a 1-year low of $1.39 and a 1-year high of $7.36.

Insider Activity

In other Eos Energy Enterprises news, insider Nathan Kroeker sold 152,856 shares of the business's stock in a transaction that occurred on Friday, May 16th. The shares were sold at an average price of $6.86, for a total transaction of $1,048,592.16. Following the completion of the transaction, the insider owned 403,815 shares in the company, valued at $2,770,170.90. The trade was a 27.46% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CAO Sumeet Puri sold 36,173 shares of the business's stock in a transaction that occurred on Friday, May 16th. The stock was sold at an average price of $6.86, for a total transaction of $248,146.78. Following the transaction, the chief accounting officer owned 95,624 shares of the company's stock, valued at $655,980.64. This trade represents a 27.45% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 1,108,053 shares of company stock worth $6,901,858. Insiders own 3.63% of the company's stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in EOSE. Envestnet Asset Management Inc. purchased a new stake in shares of Eos Energy Enterprises during the 2nd quarter worth approximately $76,000. Goldman Sachs Group Inc. lifted its position in shares of Eos Energy Enterprises by 36.8% during the 1st quarter. Goldman Sachs Group Inc. now owns 3,900,513 shares of the company's stock worth $14,744,000 after buying an additional 1,050,128 shares during the last quarter. Finally, Millennium Management LLC lifted its position in shares of Eos Energy Enterprises by 55.1% during the 1st quarter. Millennium Management LLC now owns 2,522,273 shares of the company's stock worth $9,534,000 after buying an additional 896,471 shares during the last quarter. Institutional investors and hedge funds own 54.87% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages have commented on EOSE. Stifel Nicolaus reduced their target price on shares of Eos Energy Enterprises from $9.00 to $8.50 and set a "buy" rating on the stock in a research note on Monday, June 9th. Guggenheim dropped their price target on shares of Eos Energy Enterprises from $7.00 to $6.00 and set a "buy" rating for the company in a research report on Monday, June 2nd. TD Cowen lifted their price target on shares of Eos Energy Enterprises from $5.50 to $6.00 and gave the company a "hold" rating in a research report on Friday. Finally, Wall Street Zen upgraded shares of Eos Energy Enterprises from a "sell" rating to a "hold" rating in a research report on Saturday, July 26th. Five equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average target price of $6.38.

Eos Energy Enterprises Company Profile

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.