Eos Energy Enterprises (NASDAQ:EOSE) Sets New 52-Week High - Here's Why

Key Points

• Eos Energy Enterprises reached a new 52-week high of $11.36, with significant trading volume of over 32 million shares.
• Analysts have generally rated the stock with a consensus price target of $7.50, highlighting a mix of 'buy' and 'hold' ratings following recent price target adjustments.
• The company reported a loss of ($1.05) EPS for the last quarter, falling short of analyst expectations, and revenue also came in below forecasts at $15.24 million.

Eos Energy Enterprises, Inc. (NASDAQ:EOSE - Get Free Report) hit a new 52-week high on Thursday . The company traded as high as $11.36 and last traded at $10.65, with a volume of 32612317 shares traded. The stock had previously closed at $10.16.

Wall Street Analyst Weigh In

Several analysts have commented on EOSE shares. Guggenheim increased their price target on shares of Eos Energy Enterprises from $6.00 to $10.00 and gave the company a "buy" rating in a research report on Friday, September 5th. Stifel Nicolaus increased their target price on shares of Eos Energy Enterprises from $8.50 to $10.00 and gave the company a "buy" rating in a research report on Friday, September 19th. TD Cowen increased their target price 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, August 1st. Wall Street Zen cut shares of Eos Energy Enterprises from a "hold" rating to a "sell" rating in a research report on Sunday, August 3rd. Finally, Jefferies Financial Group started coverage on Eos Energy Enterprises in a report on Friday, September 5th. They set a "hold" rating and a $6.50 price objective for the company. Two research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus target price of $7.50.

Eos Energy Enterprises Trading Up 4.8%

The stock has a market capitalization of $2.77 billion, a PE ratio of -2.04 and a beta of 2.17. The company's 50-day moving average is $6.94 and its 200 day moving average is $5.51.

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

Insider Buying and Selling

In related news, CFO Nathan Kroeker sold 99,375 shares of the firm's 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 completion of the transaction, the chief financial officer owned 612,512 shares in the company, valued at $3,638,321.28. This trade represents a 13.96% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Marian Walters sold 50,000 shares of the firm's stock in a transaction dated Wednesday, September 3rd. The stock was sold at an average price of $7.90, for a total value of $395,000.00. Following the completion of the transaction, the director owned 133,794 shares of the company's stock, valued at approximately $1,056,972.60. The trade was a 27.20% decrease in their ownership of the stock. 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 over the last three months. Corporate insiders own 3.30% of the company's stock.

Hedge Funds Weigh In On Eos Energy Enterprises

Institutional investors have recently bought and sold shares of the business. KBC Group NV purchased a new position in Eos Energy Enterprises during the 1st quarter worth approximately $38,000. SBI Securities Co. Ltd. raised its holdings in shares of Eos Energy Enterprises by 588.0% during the first quarter. SBI Securities Co. Ltd. now owns 10,065 shares of the company's stock worth $38,000 after purchasing an additional 8,602 shares during the last quarter. Elevatus Welath Management purchased a new position in shares of Eos Energy Enterprises during the first quarter worth $39,000. Amalgamated Bank purchased a new position in shares of Eos Energy Enterprises during the 2nd quarter valued at about $39,000. Finally, Skandinaviska Enskilda Banken AB publ purchased a new position in shares of Eos Energy Enterprises during the 2nd quarter valued at about $39,000. 54.87% of the stock is owned by hedge funds and other institutional investors.

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.

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