Driehaus Capital Management LLC Makes New $13.46 Million Investment in Eos Energy Enterprises, Inc. $EOSE

Key Points

• Driehaus Capital Management LLC has acquired a new position in Eos Energy Enterprises, purchasing approximately 3.56 million shares valued at around $13.46 million, representing a 1.57% ownership stake.
• Insider transactions show both General Counsel Michael W. Silberman and CEO Joe Mastrangelo selling significant portions of their shares, with Silberman reducing his stake by 21.36% and Mastrangelo by 10.62%.
• Eos Energy Enterprises' stock has seen a decline of 3.2%, with recent earnings reporting a loss of $1.05 per share, missing estimates and resulting in a market cap of $1.79 billion.

Driehaus Capital Management LLC bought a new stake in Eos Energy Enterprises, Inc. (NASDAQ:EOSE - Free Report) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 3,559,725 shares of the company's stock, valued at approximately $13,456,000. Driehaus Capital Management LLC owned 1.57% of Eos Energy Enterprises at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. KBC Group NV acquired a new position in Eos Energy Enterprises in the 1st quarter valued at $38,000. SBI Securities Co. Ltd. increased its stake in Eos Energy Enterprises by 588.0% in the 1st quarter. SBI Securities Co. Ltd. now owns 10,065 shares of the company's stock valued at $38,000 after buying an additional 8,602 shares during the period. Elevatus Welath Management acquired a new position in Eos Energy Enterprises in the 1st quarter valued at $39,000. Parallel Advisors LLC acquired a new position in Eos Energy Enterprises in the 1st quarter valued at $43,000. Finally, Carmel Capital Partners LLC increased its stake in Eos Energy Enterprises by 24.5% in the 1st quarter. Carmel Capital Partners LLC now owns 12,450 shares of the company's stock valued at $47,000 after buying an additional 2,450 shares during the period. 54.87% of the stock is owned by institutional investors and hedge funds.

Eos Energy Enterprises Price Performance

NASDAQ EOSE traded up $0.11 during mid-day trading on Wednesday, hitting $7.62. The company's stock had a trading volume of 14,043,828 shares, compared to its average volume of 10,622,835. Eos Energy Enterprises, Inc. has a 52-week low of $2.06 and a 52-week high of $8.09. The stock's fifty day simple moving average is $5.83 and its two-hundred day simple moving average is $5.09. The firm has a market capitalization of $1.98 billion, a P/E ratio of -1.46 and a beta of 2.17.

Eos Energy Enterprises (NASDAQ:EOSE - Get Free Report) last posted 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, equities analysts forecast that Eos Energy Enterprises, Inc. will post -2.54 earnings per share for the current fiscal year.

Insider Activity

In other Eos Energy Enterprises news, Director Alexander Dimitrief sold 45,000 shares of the business'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 sale, the director directly owned 219,452 shares in the company, valued at approximately $1,316,712. The trade was a 17.02% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO Sumeet Puri sold 17,500 shares of the business's stock in a transaction dated Tuesday, July 29th. The stock was sold at an average price of $5.94, for a total transaction of $103,950.00. Following the completion of the sale, the chief accounting officer owned 136,457 shares in the company, valued at approximately $810,554.58. This trade represents a 11.37% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 592,697 shares of company stock valued at $3,327,816 over the last quarter. 3.63% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on the stock. Stifel Nicolaus lowered their price target on shares of Eos Energy Enterprises from $9.00 to $8.50 and set a "buy" rating on the stock in a research note on Monday, June 9th. Wall Street Zen downgraded shares of Eos Energy Enterprises from a "hold" rating to a "sell" rating in a report on Sunday, August 3rd. Guggenheim cut their price target on shares of Eos Energy Enterprises from $7.00 to $6.00 and set a "buy" rating for the company in a report on Monday, June 2nd. Finally, TD Cowen increased their price target on shares of Eos Energy Enterprises from $5.50 to $6.00 and gave the company a "hold" rating in a report on Friday, August 1st. Two investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat, the company has an average rating of "Hold" and a consensus target price of $6.38.

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.