Eos Energy Enterprises (NASDAQ:EOSE) Trading Up 9.3% - Time to Buy?

Key Points

• Eos Energy Enterprises stock rose by 9.3% to $11.11 during trading, with around 7.97 million shares changing hands, showing a decrease in trading volume compared to the daily average.
• Analysts have varying opinions on the stock: Wall Street Zen downgraded it to a "sell," while others like Stifel Nicolaus and Guggenheim have raised their price targets to $10.00 and maintained a "buy" rating.
• The company reported a loss of $1.05 earnings per share for the last quarter, missing estimates significantly, while its revenue fell short of expectations at $15.24 million against a forecast of $24.96 million.

Eos Energy Enterprises, Inc. (NASDAQ:EOSE - Get Free Report)'s stock price was up 9.3% during mid-day trading on Wednesday . The company traded as high as $10.65 and last traded at $11.11. Approximately 7,971,001 shares changed hands during trading, a decline of 28% from the average daily volume of 11,121,488 shares. The stock had previously closed at $10.16.

Analysts Set New Price Targets

EOSE has been the subject of several analyst reports. Wall Street Zen lowered shares of Eos Energy Enterprises from a "hold" rating to a "sell" rating in a research note on Sunday, August 3rd. Stifel Nicolaus upped their price objective on shares of Eos Energy Enterprises from $8.50 to $10.00 and gave the stock a "buy" rating in a research note on Friday, September 19th. Jefferies Financial Group began coverage on shares of Eos Energy Enterprises in a report on Friday, September 5th. They issued a "hold" rating and a $6.50 price objective on the stock. Guggenheim increased their price objective on shares of Eos Energy Enterprises from $6.00 to $10.00 and gave the company a "buy" rating in a report on Friday, September 5th. Finally, TD Cowen lifted their price target on shares of Eos Energy Enterprises from $5.50 to $6.00 and gave the stock a "hold" rating in a research report on Friday, August 1st. Two investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to MarketBeat.com, the company currently has an average rating of "Hold" and an average target price of $7.50.

Eos Energy Enterprises Stock Up 7.6%

The firm's 50 day simple moving average is $6.83 and its 200 day simple moving average is $5.48. The company has a market capitalization of $2.84 billion, a PE ratio of -2.09 and a beta of 2.17.

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 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. As a group, sell-side analysts predict that Eos Energy Enterprises, Inc. will post -2.54 EPS for the current fiscal year.

Insider Buying and Selling at Eos Energy Enterprises

In other news, Director Marian Walters sold 50,000 shares of the business's stock in a transaction dated Wednesday, September 3rd. The stock was sold at an average price of $7.90, for a total transaction of $395,000.00. Following the completion of the transaction, the director directly owned 133,794 shares of the company's stock, valued at approximately $1,056,972.60. The trade was a 27.20% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Alexander Dimitrief sold 45,000 shares of the business's stock in a transaction that occurred on Monday, August 4th. The shares were sold at an average price of $6.00, for a total value of $270,000.00. Following the completion of the sale, the director owned 219,452 shares of the company's stock, valued at approximately $1,316,712. This represents a 17.02% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 683,198 shares of company stock worth $4,010,778. Corporate insiders own 3.30% of the company's stock.

Institutional Trading of Eos Energy Enterprises

Large investors have recently made changes to their positions in the stock. Cetera Investment Advisers purchased a new position in shares of Eos Energy Enterprises in the 1st quarter worth about $197,000. Bank of America Corp DE lifted its holdings in shares of Eos Energy Enterprises by 165.2% in the 4th quarter. Bank of America Corp DE now owns 213,256 shares of the company's stock worth $1,036,000 after purchasing an additional 132,853 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC bought a new stake in shares of Eos Energy Enterprises in the 4th quarter worth approximately $1,581,000. Vanguard Group Inc. raised its stake in Eos Energy Enterprises by 0.6% during the 1st quarter. Vanguard Group Inc. now owns 10,362,810 shares of the company's stock valued at $39,171,000 after acquiring an additional 59,762 shares in the last quarter. Finally, Brightline Capital Management LLC raised its stake in Eos Energy Enterprises by 2.9% during the 1st quarter. Brightline Capital Management LLC now owns 1,707,000 shares of the company's stock valued at $6,452,000 after acquiring an additional 48,000 shares in the last quarter. Institutional investors and hedge funds own 54.87% of the company's stock.

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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