Eos Energy Enterprises (NASDAQ:EOSE) Stock Price Expected to Rise, Guggenheim Analyst Says

Key Points

• Guggenheim has raised its price target for Eos Energy Enterprises from $10.00 to $20.00, indicating a potential 24.49% upside from the current price, and maintains a "buy" rating on the stock.
• Eos Energy Enterprises reported a $1.05 loss per share for the last quarter, significantly missing analysts' consensus estimates, alongside revenues of $15.24 million versus an expectation of $24.96 million.
• Insider transactions reveal substantial sales, with General Counsel Michael W. Silberman and CEO Joe Mastrangelo selling significant shares, indicating a 21.36% and 10.62% decrease in their positions, respectively.

Eos Energy Enterprises (NASDAQ:EOSE - Get Free Report) had its price target hoisted by equities researchers at Guggenheim from $10.00 to $20.00 in a research note issued to investors on Wednesday, Marketbeat Ratings reports. The brokerage presently has a "buy" rating on the stock. Guggenheim's price target would suggest a potential upside of 24.49% from the stock's current price.

Other equities analysts have also recently issued research reports about the stock. B. Riley upped their target price on shares of Eos Energy Enterprises from $5.00 to $8.00 and gave the company a "neutral" rating in a research note on Tuesday, September 30th. Weiss Ratings restated a "sell (d-)" rating on shares of Eos Energy Enterprises in a research note on Wednesday, October 8th. Zacks Research upgraded shares of Eos Energy Enterprises from a "strong sell" rating to a "hold" rating in a research note on Tuesday, September 30th. 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. Finally, Jefferies Financial Group started coverage on shares of Eos Energy Enterprises in a research note on Friday, September 5th. They set a "hold" rating and a $6.50 target price on the stock. Two investment analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, Eos Energy Enterprises has a consensus rating of "Hold" and an average target price of $11.36.

Eos Energy Enterprises Price Performance

Eos Energy Enterprises stock traded down $0.23 during mid-day trading on Wednesday, reaching $16.07. The stock had a trading volume of 3,359,984 shares, compared to its average volume of 12,600,479. The company has a market capitalization of $4.17 billion, a price-to-earnings ratio of -3.08 and a beta of 2.29. The company has a 50-day moving average price of $9.93 and a two-hundred day moving average price of $6.83. Eos Energy Enterprises has a one year low of $2.06 and a one year high of $19.05.

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 analysts' consensus estimates of ($0.17) by ($0.88). The company 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, equities research analysts anticipate that Eos Energy Enterprises 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 stock in a transaction that occurred on Tuesday, July 29th. The shares were sold at an average price of $5.94, for a total value of $389,812.50. Following the transaction, the general counsel owned 241,612 shares in the company, valued at $1,435,175.28. This represents a 21.36% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Joe Mastrangelo sold 166,667 shares of the stock in a transaction that occurred on Tuesday, July 29th. The stock was 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 owned 1,403,226 shares in the company, valued at $8,335,162.44. This trade represents a 10.62% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 484,668 shares of company stock worth $3,027,014. 3.30% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Eos Energy Enterprises

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Farther Finance Advisors LLC increased its holdings 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 worth $38,000 after acquiring an additional 825 shares in the last quarter. CWM LLC increased its holdings in Eos Energy Enterprises by 162.9% in the 3rd quarter. CWM LLC now owns 3,994 shares of the company's stock worth $45,000 after acquiring an additional 2,475 shares in the last quarter. Skandinaviska Enskilda Banken AB publ purchased a new stake in Eos Energy Enterprises in the 2nd quarter worth approximately $39,000. Amalgamated Bank purchased a new stake in Eos Energy Enterprises in the 2nd quarter worth approximately $39,000. Finally, Baxter Bros Inc. purchased a new stake in Eos Energy Enterprises in the 2nd quarter worth approximately $51,000. 54.87% of the stock is owned by hedge funds and other 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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