Driehaus Capital Management LLC Invests $13.46 Million 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 position in shares of Eos Energy Enterprises, Inc. (NASDAQ:EOSE - Free Report) in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 3,559,725 shares of the company's stock, valued at approximately $13,456,000. Driehaus Capital Management LLC owned about 1.57% of Eos Energy Enterprises at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. KBC Group NV acquired a new position in Eos Energy Enterprises during the first quarter worth $38,000. SBI Securities Co. Ltd. lifted its stake in Eos Energy Enterprises by 588.0% in the first quarter. SBI Securities Co. Ltd. now owns 10,065 shares of the company's stock valued at $38,000 after acquiring an additional 8,602 shares during the last quarter. Elevatus Welath Management acquired a new stake in Eos Energy Enterprises in the first quarter valued at $39,000. Parallel Advisors LLC bought a new position in shares of Eos Energy Enterprises in the first quarter valued at about $43,000. Finally, Carmel Capital Partners LLC raised its position in shares of Eos Energy Enterprises by 24.5% in the first 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 period. Institutional investors and hedge funds own 54.87% of the company's stock.

Eos Energy Enterprises Trading Down 6.7%

EOSE stock traded down $0.51 during mid-day trading on Thursday, hitting $7.11. The stock had a trading volume of 6,964,515 shares, compared to its average volume of 10,619,372. Eos Energy Enterprises, Inc. has a 52 week low of $2.06 and a 52 week high of $8.09. The firm has a market capitalization of $1.85 billion, a P/E ratio of -1.36 and a beta of 2.17. The firm has a fifty day simple moving average of $5.90 and a 200 day simple moving average of $5.11.

Eos Energy Enterprises (NASDAQ:EOSE - Get Free Report) last released its earnings results on Wednesday, July 30th. The company reported ($1.05) EPS for the quarter, missing the consensus estimate of ($0.17) by ($0.88). The business had revenue of $15.24 million for the quarter, compared to analysts' expectations of $24.96 million. Eos Energy Enterprises has set its FY 2025 guidance at EPS. As a group, equities analysts expect that Eos Energy Enterprises, Inc. will post -2.54 earnings per share for the current fiscal year.

Insider Transactions at Eos Energy Enterprises

In related news, CFO Nathan Kroeker sold 99,375 shares of Eos Energy Enterprises stock in a transaction that occurred on Tuesday, July 29th. The shares were sold at an average price of $5.94, for a total transaction of $590,287.50. Following the sale, the chief financial officer directly owned 612,512 shares of the company's stock, valued at approximately $3,638,321.28. The trade was a 13.96% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Alexander Dimitrief sold 45,000 shares of Eos Energy Enterprises stock in a transaction that occurred on Monday, August 4th. The shares were sold at an average price of $6.00, for a total transaction of $270,000.00. Following the sale, the director directly owned 219,452 shares in the company, valued at $1,316,712. This trade represents a 17.02% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 642,697 shares of company stock worth $3,722,816. Corporate insiders own 3.63% of the company's stock.

Analysts Set New Price Targets

Several brokerages have recently weighed in on EOSE. Stifel Nicolaus dropped their price objective on shares of Eos Energy Enterprises from $9.00 to $8.50 and set a "buy" rating on the stock in a research report on Monday, June 9th. Wall Street Zen lowered shares of Eos Energy Enterprises from a "hold" rating to a "sell" rating in a research report on Sunday, August 3rd. TD Cowen increased their price objective on shares of Eos Energy Enterprises from $5.50 to $6.00 and gave the company a "hold" rating in a research report on Friday, August 1st. Finally, Guggenheim dropped their price objective 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. Two research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Hold" and a consensus price target of $6.38.

Eos Energy Enterprises 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.