Eos Energy Enterprises (NASDAQ:EOSE) Sets New 52-Week High on Analyst Upgrade

Key Points

• Eos Energy Enterprises' stock price reached a new 12-month high of $9.25, with significant trading volume of over 21.7 million shares.
• Analysts have provided mixed ratings on the stock, with a consensus hold rating and average price target of $7.20, while Guggenheim set a higher target of $10.00 with a buy rating.
• Insider transactions show executives, including the CEO and CFO, selling shares, which resulted in a decrease of their ownership positions by over 10% each.

Eos Energy Enterprises, Inc. (NASDAQ:EOSE - Get Free Report)'s share price reached a new 52-week high during trading on Friday after Stifel Nicolaus raised their price target on the stock from $8.50 to $10.00. Stifel Nicolaus currently has a buy rating on the stock. Eos Energy Enterprises traded as high as $9.25 and last traded at $9.00, with a volume of 21783932 shares changing hands. The stock had previously closed at $8.50.

Other research analysts also recently issued research reports about the company. TD Cowen increased their target price on Eos Energy Enterprises from $5.50 to $6.00 and gave the stock a "hold" rating in a report on Friday, August 1st. Wall Street Zen lowered Eos Energy Enterprises from a "hold" rating to a "sell" rating in a report on Sunday, August 3rd. Jefferies Financial Group started coverage on Eos Energy Enterprises in a research note on Friday, September 5th. They issued a "hold" rating and a $6.50 price objective on the stock. Finally, Guggenheim lifted their target price 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. Two investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus price target of $7.50.

Insider Buying and Selling

In other Eos Energy Enterprises news, Director Marian Walters sold 50,000 shares of the firm's stock in a transaction on Wednesday, September 3rd. The stock was sold at an average price of $7.90, for a total transaction of $395,000.00. Following the completion of the sale, the director owned 133,794 shares of the company's stock, valued at $1,056,972.60. This trade represents a 27.20% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Nathan Kroeker sold 99,375 shares of Eos Energy Enterprises stock in a transaction on Tuesday, July 29th. The stock was sold at an average price of $5.94, for a total value of $590,287.50. Following the sale, the chief financial officer directly owned 612,512 shares of the company's stock, valued at $3,638,321.28. This represents a 13.96% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 683,198 shares of company stock worth $4,010,778 in the last quarter. 3.30% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of EOSE. Tower Research Capital LLC TRC boosted its holdings in Eos Energy Enterprises by 360.7% in the second quarter. Tower Research Capital LLC TRC now owns 46,427 shares of the company's stock valued at $238,000 after acquiring an additional 36,349 shares during the last quarter. Zuckerman Investment Group LLC bought a new position in shares of Eos Energy Enterprises during the 2nd quarter worth $78,000. EVR Research LP grew its stake in shares of Eos Energy Enterprises by 81.0% during the 2nd quarter. EVR Research LP now owns 760,000 shares of the company's stock worth $3,891,000 after acquiring an additional 340,000 shares during the period. Electron Capital Partners LLC boosted its stake in Eos Energy Enterprises by 39.9% in the 2nd quarter. Electron Capital Partners LLC now owns 6,979,422 shares of the company's stock worth $35,735,000 after purchasing an additional 1,989,144 shares during the period. Finally, Engineers Gate Manager LP bought a new position in Eos Energy Enterprises in the 2nd quarter worth about $11,840,000. Institutional investors own 54.87% of the company's stock.

Eos Energy Enterprises Trading Up 4.9%

The stock has a market cap of $2.66 billion, a PE ratio of -1.96 and a beta of 2.16. The firm has a fifty day simple moving average of $6.73 and a two-hundred day simple moving average of $5.44.

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

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.