Eos Energy Enterprises (NASDAQ:EOSE) Shares Gap Up Following Analyst Upgrade

Key Points

• Eos Energy Enterprises (NASDAQ:EOSE) shares surged after Stifel Nicolaus raised their price target from $8.50 to $10.00, indicating a strong buy rating.
• Despite a recent analyst consensus rating of "Hold," several brokerages have varying views, with some placing price targets as low as $6.50 and others going as high as $10.00.
• Insider activity has seen significant selling, with directors disposing of large numbers of shares, leading to a decrease in their positions and raising concerns among investors.

Eos Energy Enterprises, Inc. (NASDAQ:EOSE - Get Free Report)'s stock price gapped up before the market opened on Monday after Stifel Nicolaus raised their price target on the stock from $8.50 to $10.00. The stock had previously closed at $9.76, but opened at $10.46. Stifel Nicolaus currently has a buy rating on the stock. Eos Energy Enterprises shares last traded at $10.09, with a volume of 11,195,404 shares changing hands.

Other equities analysts have also recently issued reports about the company. Wall Street Zen cut Eos Energy Enterprises from a "hold" rating to a "sell" rating in a report on Sunday, August 3rd. TD Cowen lifted their price objective on Eos Energy Enterprises from $5.50 to $6.00 and gave the company a "hold" rating in a research report on Friday, August 1st. Guggenheim lifted their price objective on Eos Energy Enterprises from $6.00 to $10.00 and gave the company a "buy" rating in a research report on Friday, September 5th. Finally, Jefferies Financial Group assumed coverage on Eos Energy Enterprises in a research report on Friday, September 5th. They issued 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 five have given a Hold rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average target price of $7.50.

Insider Buying and Selling at Eos Energy Enterprises

In related news, General Counsel Michael W. Silberman sold 65,625 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 transaction of $389,812.50. Following the completion of the sale, the general counsel directly owned 241,612 shares of the company's stock, valued at $1,435,175.28. The trade was a 21.36% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Marian Walters sold 50,000 shares of Eos Energy Enterprises stock in a transaction on Wednesday, September 3rd. The stock was sold at an average price of $7.90, for a total value of $395,000.00. Following the sale, the director directly owned 133,794 shares of the company's stock, valued at approximately $1,056,972.60. This trade represents a 27.20% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 683,198 shares of company stock valued at $4,010,778 over the last quarter. 3.30% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Eos Energy Enterprises

Large investors have recently modified their holdings of the business. KBC Group NV bought a new stake in shares of Eos Energy Enterprises in the first quarter worth about $38,000. SBI Securities Co. Ltd. increased its holdings 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 worth $38,000 after acquiring an additional 8,602 shares in the last quarter. Elevatus Welath Management bought a new stake in shares of Eos Energy Enterprises in the first quarter worth about $39,000. Amalgamated Bank bought a new stake in shares of Eos Energy Enterprises in the second quarter worth about $39,000. Finally, Skandinaviska Enskilda Banken AB publ bought a new stake in shares of Eos Energy Enterprises in the second quarter worth about $39,000. 54.87% of the stock is currently owned by institutional investors.

Eos Energy Enterprises Stock Up 4.9%

The company has a market capitalization of $2.66 billion, a P/E ratio of -1.96 and a beta of 2.16. The firm has a fifty day simple moving average of $6.73 and a 200-day simple moving average of $5.44.

Eos Energy Enterprises (NASDAQ:EOSE - Get Free Report) last issued 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 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. On average, sell-side analysts predict that Eos Energy Enterprises, Inc. will post -2.54 earnings per share for the current fiscal 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.