Eos Energy Enterprises (NASDAQ:EOSE) Trading 3.1% Higher - Here's What Happened

Key Points

• Eos Energy Enterprises shares increased by 3.1%, trading at $6.54 after hitting a high of $6.58, though volume was down 81% from the average.
• Despite the price rise, analysts have mixed ratings with one "sell," four "hold," and two "buy" ratings, along with a consensus target price of $6.38.
• Recent insider transactions show significant selling activity, including a director selling 45,000 shares, reducing ownership by 17.02%.

Shares of Eos Energy Enterprises, Inc. (NASDAQ:EOSE - Get Free Report) shot up 3.1% during mid-day trading on Thursday . The stock traded as high as $6.58 and last traded at $6.54. 1,963,851 shares changed hands during trading, a decline of 81% from the average session volume of 10,531,753 shares. The stock had previously closed at $6.34.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on EOSE. Stifel Nicolaus reduced their target price on shares of Eos Energy Enterprises from $9.00 to $8.50 and set a "buy" rating for the company in a research report on Monday, June 9th. Guggenheim decreased 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 research report on Monday, June 2nd. Wall Street Zen downgraded shares of Eos Energy Enterprises from a "hold" rating to a "sell" rating in a research report on Sunday, August 3rd. Finally, TD Cowen raised their price objective on Eos Energy Enterprises from $5.50 to $6.00 and gave the stock a "hold" rating in a research note on Friday, August 1st. Two equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus target price of $6.38.

Eos Energy Enterprises Trading Down 4.4%

The stock's 50-day moving average is $5.36 and its 200-day moving average is $4.99. The company has a market cap of $1.57 billion, a price-to-earnings ratio of -1.16 and a beta of 2.07.

Eos Energy Enterprises (NASDAQ:EOSE - Get Free Report) last announced its quarterly 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 business had revenue of $15.24 million during the quarter, compared to analyst estimates of $24.96 million. Eos Energy Enterprises has set its FY 2025 guidance at EPS. As a group, analysts predict that Eos Energy Enterprises, Inc. will post -2.54 EPS for the current year.

Insider Activity

In other Eos Energy Enterprises news, CFO Nathan Kroeker sold 99,375 shares of the firm's stock in a transaction on Tuesday, July 29th. The shares were sold at an average price of $5.94, for a total value of $590,287.50. Following the transaction, the chief financial officer directly owned 612,512 shares of the company's stock, valued at approximately $3,638,321.28. This trade represents a 13.96% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Alexander Dimitrief sold 45,000 shares of the company's stock in a transaction dated Monday, August 4th. The stock was sold at an average price of $6.00, for a total transaction of $270,000.00. Following the completion of the sale, the director owned 219,452 shares in the company, valued at $1,316,712. This represents a 17.02% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 592,697 shares of company stock valued at $3,327,816. 3.63% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Eos Energy Enterprises

A number of institutional investors have recently added to or reduced their stakes in the company. Wells Fargo & Company MN boosted its stake in shares of Eos Energy Enterprises by 3.6% in the 4th quarter. Wells Fargo & Company MN now owns 62,075 shares of the company's stock worth $302,000 after buying an additional 2,175 shares during the last quarter. SBI Securities Co. Ltd. grew its stake in Eos Energy Enterprises by 23.6% in the 2nd quarter. SBI Securities Co. Ltd. now owns 12,444 shares of the company's stock valued at $64,000 after purchasing an additional 2,379 shares during the period. Carmel Capital Partners LLC increased its position in shares of Eos Energy Enterprises by 24.5% during the 1st quarter. Carmel Capital Partners LLC now owns 12,450 shares of the company's stock valued at $47,000 after purchasing an additional 2,450 shares during the last quarter. Teacher Retirement System of Texas raised its stake in shares of Eos Energy Enterprises by 7.9% during the 2nd quarter. Teacher Retirement System of Texas now owns 34,348 shares of the company's stock worth $176,000 after purchasing an additional 2,501 shares during the period. Finally, Meridian Wealth Management LLC boosted its holdings in shares of Eos Energy Enterprises by 2.6% in the 1st quarter. Meridian Wealth Management LLC now owns 102,400 shares of the company's stock worth $387,000 after buying an additional 2,600 shares during the last quarter. 54.87% of the stock is owned by 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.