Eos Energy Enterprises (NASDAQ:EOSE) Hits New 12-Month High - Here's What Happened

Key Points

• Eos Energy Enterprises' stock reached a new 12-month high of $11.57, closing at $11.37 after trading more than 14 million shares.
• Analysts have mixed opinions: B. Riley raised their price target to $8.00 with a neutral rating, while Wall Street Zen downgraded the stock to a sell rating.
• Insider trades reveal significant sales, with CFO Nathan Kroeker and CEO Joe Mastrangelo reducing their holdings by 13.96% and 10.62%, respectively.

Eos Energy Enterprises, Inc. (NASDAQ:EOSE - Get Free Report)'s stock price reached a new 52-week high on Wednesday . The company traded as high as $11.57 and last traded at $11.37, with a volume of 14046288 shares changing hands. The stock had previously closed at $11.17.

Analyst Ratings Changes

A number of analysts have recently weighed in on the company. B. Riley upped their target price on Eos Energy Enterprises from $5.00 to $8.00 and gave the company a "neutral" rating in a research report on Tuesday. Wall Street Zen downgraded Eos Energy Enterprises from a "hold" rating to a "sell" rating in a research report on Sunday, August 3rd. Stifel Nicolaus upped their price objective on Eos Energy Enterprises from $8.50 to $10.00 and gave the stock a "buy" rating in a research report on Friday, September 19th. Guggenheim upped their price objective on Eos Energy Enterprises from $6.00 to $10.00 and gave the stock a "buy" rating in a research report on Friday, September 5th. Finally, Jefferies Financial Group started coverage on Eos Energy Enterprises in a research report on Friday, September 5th. They set a "hold" rating and a $6.50 price objective for the company. Two equities research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average price target of $7.58.

Eos Energy Enterprises Price Performance

The stock has a market capitalization of $2.95 billion, a P/E ratio of -2.18 and a beta of 2.17. The firm has a 50-day simple moving average of $7.34 and a 200 day simple moving average of $5.71.

Eos Energy Enterprises (NASDAQ:EOSE - Get Free Report) last posted its earnings results on Wednesday, July 30th. The company reported ($1.05) EPS for the quarter, missing the consensus estimate of ($0.17) by ($0.88). The business had revenue of $15.24 million during the quarter, compared to analysts' expectations of $24.96 million. Eos Energy Enterprises has set its FY 2025 guidance at EPS. Sell-side analysts anticipate that Eos Energy Enterprises, Inc. will post -2.54 earnings per share for the current fiscal year.

Insider Transactions at Eos Energy Enterprises

In other Eos Energy Enterprises news, CFO Nathan Kroeker sold 99,375 shares of the stock in a transaction dated Tuesday, July 29th. The stock was sold at an average price of $5.94, for a total value of $590,287.50. Following the completion of the transaction, the chief financial officer directly owned 612,512 shares in the company, valued at approximately $3,638,321.28. This trade represents a 13.96% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Joe Mastrangelo sold 166,667 shares of the stock in a transaction dated Tuesday, July 29th. The shares were sold at an average price of $5.94, for a total value of $990,001.98. Following the completion of the transaction, the chief executive officer owned 1,403,226 shares of the company's stock, valued at $8,335,162.44. This represents a 10.62% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 683,198 shares of company stock valued at $4,010,778. 3.30% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Eos Energy Enterprises

Institutional investors and hedge funds have recently made changes to their positions in the stock. Skandinaviska Enskilda Banken AB publ acquired a new stake in shares of Eos Energy Enterprises in the second quarter valued at about $39,000. Amalgamated Bank acquired a new stake in shares of Eos Energy Enterprises in the second quarter valued at about $39,000. Baxter Bros Inc. acquired a new stake in shares of Eos Energy Enterprises in the second quarter valued at about $51,000. KBC Group NV acquired a new stake in shares of Eos Energy Enterprises in the first quarter valued at about $38,000. Finally, SBI Securities Co. Ltd. increased its stake in shares of Eos Energy Enterprises by 588.0% in the first quarter. SBI Securities Co. Ltd. now owns 10,065 shares of the company's stock valued at $38,000 after buying an additional 8,602 shares during the period. Institutional investors and hedge funds 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.

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