Eos Energy Enterprises (NASDAQ:EOSE) Shares Gap Up - Still a Buy?

Key Points

• Eos Energy Enterprises (NASDAQ:EOSE) shares opened at $18.28, up from a previous close of $16.98, with a trading volume of over 6 million shares.
• Analysts have mixed ratings on the stock, with a consensus rating of "Hold" and a price target of $9.58, while recent reports show a significant earnings miss of ($1.05) EPS against an expected ($0.17).
• Insider trading has seen notable activity, with both the CEO and a director selling a combined total of 211,667 shares in the past months, indicating potential confidence issues among management.

Eos Energy Enterprises, Inc. (NASDAQ:EOSE - Get Free Report) gapped up prior to trading on Wednesday . The stock had previously closed at $16.98, but opened at $18.28. Eos Energy Enterprises shares last traded at $17.44, with a volume of 6,237,847 shares changing hands.

Analyst Ratings Changes

EOSE has been the subject of a number of recent analyst reports. Weiss Ratings reiterated a "sell (d-)" rating on shares of Eos Energy Enterprises in a report on Wednesday, October 8th. TD Cowen increased their price target 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 downgraded Eos Energy Enterprises from a "hold" rating to a "sell" rating in a report on Sunday, August 3rd. Guggenheim increased their price target on Eos Energy Enterprises from $6.00 to $10.00 and gave the stock a "buy" rating in a report on Friday, September 5th. Finally, B. Riley increased their price target on Eos Energy Enterprises from $5.00 to $8.00 and gave the stock a "neutral" rating in a report on Tuesday, September 30th. Two analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has given a Sell 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 $9.58.

Eos Energy Enterprises Trading Up 3.7%

The company has a market cap of $4.58 billion, a P/E ratio of -3.37 and a beta of 2.29. The stock's 50-day moving average price is $8.97 and its 200-day moving average price is $6.41.

Eos Energy Enterprises (NASDAQ:EOSE - Get Free Report) last released its quarterly earnings data 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 firm had revenue of $15.24 million for the quarter, compared to the consensus estimate of $24.96 million. Eos Energy Enterprises has set its FY 2025 guidance at EPS. On average, research analysts anticipate that Eos Energy Enterprises, Inc. will post -2.54 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, Director Alexander Dimitrief sold 45,000 shares of the firm's stock in a transaction dated Monday, August 4th. The shares were sold at an average price of $6.00, for a total value of $270,000.00. Following the transaction, the director owned 219,452 shares of the company's stock, valued at approximately $1,316,712. This trade represents a 17.02% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Joe Mastrangelo sold 166,667 shares of the firm'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 $990,001.98. Following the completion of the transaction, the chief executive officer directly owned 1,403,226 shares in the company, valued at approximately $8,335,162.44. The trade was a 10.62% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 484,668 shares of company stock worth $3,027,014 in the last 90 days. Company insiders own 3.30% of the company's stock.

Hedge Funds Weigh In On Eos Energy Enterprises

Several large investors have recently added to or reduced their stakes in the business. Farther Finance Advisors LLC lifted its position in Eos Energy Enterprises by 33.0% in the 3rd quarter. Farther Finance Advisors LLC now owns 3,325 shares of the company's stock valued at $38,000 after acquiring an additional 825 shares in the last quarter. Tower Research Capital LLC TRC lifted its position in shares of Eos Energy Enterprises by 360.7% during the 2nd quarter. Tower Research Capital LLC TRC now owns 46,427 shares of the company's stock worth $238,000 after buying an additional 36,349 shares in the last quarter. Zuckerman Investment Group LLC purchased a new position in shares of Eos Energy Enterprises in the 2nd quarter worth approximately $78,000. EVR Research LP grew its holdings in shares of Eos Energy Enterprises by 81.0% in the second quarter. EVR Research LP now owns 760,000 shares of the company's stock valued at $3,891,000 after acquiring an additional 340,000 shares in the last quarter. Finally, Electron Capital Partners LLC increased its position in shares of Eos Energy Enterprises by 39.9% during the second quarter. Electron Capital Partners LLC now owns 6,979,422 shares of the company's stock valued at $35,735,000 after acquiring an additional 1,989,144 shares during the last quarter. Institutional investors own 54.87% of the company's stock.

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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