Eos Energy Enterprises (NASDAQ:EOSE) Shares Down 5.5% - Here's What Happened

Key Points

• Eos Energy Enterprises shares fell by 5.5% to $9.91, with trading volume dropping 57% below the average, signaling potential concerns among investors.
• Analysts have mixed views on the stock, with some upgrading their price targets while others have issued a "sell" rating, resulting in a consensus rating of "Hold" and a target price of $7.50.
• The company reported disappointing earnings, missing estimates significantly with a loss of ($1.05) per share and revenues of $15.24 million versus an expected $24.96 million.

Eos Energy Enterprises, Inc. (NASDAQ:EOSE - Get Free Report)'s share price was down 5.5% during mid-day trading on Friday . The stock traded as low as $9.96 and last traded at $9.91. Approximately 4,895,460 shares traded hands during trading, a decline of 57% from the average daily volume of 11,292,994 shares. The stock had previously closed at $10.49.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on EOSE shares. TD Cowen increased 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, August 1st. Jefferies Financial Group started coverage on shares of Eos Energy Enterprises in a research note on Friday, September 5th. They issued a "hold" rating and a $6.50 target price for the company. Guggenheim upped their target price on shares of Eos Energy Enterprises from $6.00 to $10.00 and gave the company a "buy" rating in a report on Friday, September 5th. Stifel Nicolaus lifted their price target on shares of Eos Energy Enterprises from $8.50 to $10.00 and gave the stock a "buy" rating in a report on Friday, September 19th. Finally, Wall Street Zen downgraded shares of Eos Energy Enterprises from a "hold" rating to a "sell" rating in a research note on Sunday, August 3rd. Two analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company's stock. According to data from MarketBeat, Eos Energy Enterprises has a consensus rating of "Hold" and a consensus target price of $7.50.

Eos Energy Enterprises Stock Down 4.5%

The business has a 50 day moving average price of $7.05 and a 200-day moving average price of $5.56. The firm has a market cap of $2.60 billion, a price-to-earnings ratio of -1.92 and a beta of 2.17.

Eos Energy Enterprises (NASDAQ:EOSE - Get Free Report) last announced its earnings results on Wednesday, July 30th. The company reported ($1.05) earnings per share for the quarter, missing the consensus estimate of ($0.17) by ($0.88). The firm had revenue of $15.24 million during the quarter, compared to the consensus estimate of $24.96 million. Eos Energy Enterprises has set its FY 2025 guidance at EPS. Research 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 news, General Counsel Michael W. Silberman sold 65,625 shares of the company's stock in a transaction dated Tuesday, July 29th. The shares were sold at an average price of $5.94, for a total transaction of $389,812.50. Following the completion of the transaction, the general counsel owned 241,612 shares in the company, valued at approximately $1,435,175.28. This represents a 21.36% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Marian Walters sold 50,000 shares of Eos Energy Enterprises stock in a transaction dated Wednesday, September 3rd. The shares were 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 in the company, valued at approximately $1,056,972.60. This represents 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 valued at $4,010,778 over the last quarter. Insiders own 3.30% of the company's stock.

Hedge Funds Weigh In On Eos Energy Enterprises

Several large investors have recently bought and sold shares of EOSE. Vanguard Group Inc. raised its holdings in shares of Eos Energy Enterprises by 0.6% in the 1st quarter. Vanguard Group Inc. now owns 10,362,810 shares of the company's stock worth $39,171,000 after purchasing an additional 59,762 shares in the last quarter. Electron Capital Partners LLC raised its holdings in Eos Energy Enterprises by 39.9% during the 2nd quarter. Electron Capital Partners LLC now owns 6,979,422 shares of the company's stock worth $35,735,000 after buying an additional 1,989,144 shares during the period. Geode Capital Management LLC lifted its stake in Eos Energy Enterprises by 101.4% during the second quarter. Geode Capital Management LLC now owns 5,407,930 shares of the company's stock valued at $27,692,000 after buying an additional 2,722,495 shares in the last quarter. Goldman Sachs Group Inc. boosted its holdings in shares of Eos Energy Enterprises by 36.8% in the first 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 period. Finally, Driehaus Capital Management LLC acquired a new position in shares of Eos Energy Enterprises in the first quarter worth about $13,456,000. 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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