Eos Energy Enterprises (NASDAQ:EOSE) Shares Down 6.6% After Insider Selling

Key Points

• Eos Energy Enterprises shares fell by 6.6% following the sale of 50,000 shares by Director Marian Walters, indicating potential investor concerns over insider selling.
• Several research firms have adjusted their ratings and price targets for EOSE, with Stifel Nicolaus lowering its target from $9.00 to $8.50 and Wall Street Zen downgrading the stock from "hold" to "sell."
• The company reported a significant earnings miss with an EPS of ($1.05), below the consensus estimate of ($0.17), and a revenue shortfall of $15.24 million compared to estimates of $24.96 million for the last quarter.

Shares of Eos Energy Enterprises, Inc. (NASDAQ:EOSE - Get Free Report) were down 6.6% during trading on Thursday after an insider sold shares in the company. The company traded as low as $7.13 and last traded at $7.12. Approximately 5,291,154 shares traded hands during mid-day trading, a decline of 50% from the average daily volume of 10,604,479 shares. The stock had previously closed at $7.62.

Specifically, Director Marian Walters sold 50,000 shares of the firm's stock in a transaction that occurred on 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 directly owned 133,794 shares in the company, valued at $1,056,972.60. This trade represents a 27.20% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink.

Wall Street Analyst Weigh In

Several research analysts have recently commented on EOSE shares. Stifel Nicolaus lowered 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 report on Monday, June 9th. Guggenheim lowered their target price on shares of Eos Energy Enterprises from $7.00 to $6.00 and set a "buy" rating on the stock in a report on Monday, June 2nd. TD Cowen lifted their price objective on shares of Eos Energy Enterprises from $5.50 to $6.00 and gave the company a "hold" rating in a research note on Friday, August 1st. Finally, Wall Street Zen cut shares of Eos Energy Enterprises from a "hold" rating to a "sell" rating in a research note on Sunday, August 3rd. Two equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat, the company presently has an average rating of "Hold" and an average price target of $6.38.

Eos Energy Enterprises Price Performance

The firm has a market cap of $1.86 billion, a price-to-earnings ratio of -1.37 and a beta of 2.17. The firm's fifty day moving average is $5.90 and its 200-day moving average is $5.11.

Eos Energy Enterprises (NASDAQ:EOSE - Get Free Report) last released its earnings results on Wednesday, July 30th. The company reported ($1.05) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.17) by ($0.88). The company 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. As a group, equities research analysts anticipate that Eos Energy Enterprises, Inc. will post -2.54 EPS for the current year.

Institutional Investors Weigh In On Eos Energy Enterprises

Several hedge funds and other institutional investors have recently bought and sold shares of EOSE. KBC Group NV bought a new stake in Eos Energy Enterprises in the first quarter valued at $38,000. SBI Securities Co. Ltd. increased its stake in 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 purchasing an additional 8,602 shares in the last quarter. Elevatus Welath Management bought a new stake in Eos Energy Enterprises in the first quarter valued at $39,000. Amalgamated Bank bought a new stake in Eos Energy Enterprises in the second quarter valued at $39,000. Finally, Skandinaviska Enskilda Banken AB publ bought a new stake in Eos Energy Enterprises in the second quarter valued at $39,000. 54.87% of the stock is owned by institutional investors.

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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