Eos Energy Enterprises, Inc. $EOSE Shares Acquired by Hsbc Holdings PLC

Key Points

• HSBC raised its stake in Eos Energy by 192.9% in Q2, ending the period with 129,626 shares valued at about $665,000.
• Several large institutions also boosted or initiated positions (e.g., Geode now owns 5.41M shares worth ~$27.7M; Driehaus and JPMorgan added multi‑million dollar stakes), leaving institutional ownership at 54.87% while insiders sold 816,134 shares (~$12.26M) over the past 90 days.
• Eos posted a substantial earnings miss (EPS of -$2.77 vs. -$0.31 expected) and revenue of $30.5M vs. $39.6M est.; analysts are mixed with an average rating of "Hold" and an average target price of $11.93, while the stock trades around $14.79 (market cap ~$4.26B).

Hsbc Holdings PLC raised its holdings in shares of Eos Energy Enterprises, Inc. (NASDAQ:EOSE - Free Report) by 192.9% in the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 129,626 shares of the company's stock after buying an additional 85,371 shares during the period. Hsbc Holdings PLC's holdings in Eos Energy Enterprises were worth $665,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Driehaus Capital Management LLC bought a new stake in shares of Eos Energy Enterprises during the 1st quarter worth $13,456,000. Geode Capital Management LLC lifted its holdings in shares of Eos Energy Enterprises by 101.4% during the second quarter. Geode Capital Management LLC now owns 5,407,930 shares of the company's stock valued at $27,692,000 after purchasing an additional 2,722,495 shares during the last quarter. JPMorgan Chase & Co. acquired a new position in shares of Eos Energy Enterprises in the 2nd quarter valued at $5,958,000. Goldman Sachs Group Inc. increased its stake in Eos Energy Enterprises by 36.8% in the 1st quarter. Goldman Sachs Group Inc. now owns 3,900,513 shares of the company's stock worth $14,744,000 after purchasing an additional 1,050,128 shares in the last quarter. Finally, Millennium Management LLC raised its holdings in Eos Energy Enterprises by 55.1% during the 1st quarter. Millennium Management LLC now owns 2,522,273 shares of the company's stock worth $9,534,000 after buying an additional 896,471 shares during the period. Institutional investors own 54.87% of the company's stock.

Wall Street Analyst Weigh In

EOSE has been the subject of several recent analyst reports. Guggenheim raised their target price on shares of Eos Energy Enterprises from $10.00 to $20.00 and gave the stock a "buy" rating in a report on Wednesday, October 22nd. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Eos Energy Enterprises in a research note on Wednesday, October 8th. B. Riley lifted their price objective on shares of Eos Energy Enterprises from $8.00 to $12.00 and gave the stock a "neutral" rating in a research report on Tuesday, November 11th. Zacks Research lowered Eos Energy Enterprises from a "hold" rating to a "strong sell" rating in a report on Wednesday, October 29th. Finally, Jefferies Financial Group began coverage on Eos Energy Enterprises in a research report on Friday, September 5th. They issued a "hold" rating and a $6.50 target price for the company. Two analysts have rated the stock with a Buy rating, six have assigned a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and an average target price of $11.93.

Eos Energy Enterprises Stock Down 1.1%

EOSE stock opened at $14.79 on Thursday. The company has a 50 day moving average of $14.86 and a two-hundred day moving average of $9.24. The company has a market cap of $4.26 billion, a price-to-earnings ratio of -1.77 and a beta of 2.15. Eos Energy Enterprises, Inc. has a 12-month low of $2.99 and a 12-month high of $19.86.

Eos Energy Enterprises (NASDAQ:EOSE - Get Free Report) last posted its quarterly earnings results on Wednesday, November 5th. The company reported ($2.77) EPS for the quarter, missing the consensus estimate of ($0.31) by ($2.46). The firm had revenue of $30.51 million for the quarter, compared to analyst estimates of $39.55 million. On average, research analysts anticipate that Eos Energy Enterprises, Inc. will post -2.54 EPS for the current year.

Insider Transactions at Eos Energy Enterprises

In other news, Director Russell Monoki Stidolph sold 29,999 shares of Eos Energy Enterprises stock in a transaction dated Monday, December 8th. The stock was sold at an average price of $15.36, for a total transaction of $460,784.64. Following the completion of the sale, the director directly owned 2,123,273 shares in the company, valued at $32,613,473.28. The trade was a 1.39% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Marian Walters sold 50,000 shares of the business's stock in a transaction that occurred on Thursday, December 4th. The shares were sold at an average price of $15.81, for a total value of $790,500.00. Following the completion of the sale, the director directly owned 135,334 shares of the company's stock, valued at approximately $2,139,630.54. The trade was a 26.98% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 816,134 shares of company stock valued at $12,262,335 over the last ninety days. Company insiders own 3.30% of the company's stock.

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.

Want to see what other hedge funds are holding EOSE? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Eos Energy Enterprises, Inc. (NASDAQ:EOSE - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.