Baird Financial Group Inc. Trims Stock Position in Eos Energy Enterprises, Inc. $EOSE

Key Points

• Baird Financial Group Inc. reduced its stake in Eos Energy Enterprises by 23.7% in Q1, owning 1,342,629 shares post-sale.
• Insiders have sold a total of 642,697 shares over the last ninety days, including significant sales by CAO Sumeet Puri and Director Marian Walters.
• The company's stock is currently down 3.7%, with a market cap of $1.91 billion and recent earnings showing a larger loss than expected.

Baird Financial Group Inc. reduced its stake in shares of Eos Energy Enterprises, Inc. (NASDAQ:EOSE - Free Report) by 23.7% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,342,629 shares of the company's stock after selling 417,188 shares during the quarter. Baird Financial Group Inc. owned 0.59% of Eos Energy Enterprises worth $5,075,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the company. Cetera Investment Advisers acquired a new stake in shares of Eos Energy Enterprises in the first quarter valued at approximately $197,000. Bank of America Corp DE lifted its position in Eos Energy Enterprises by 165.2% during the 4th quarter. Bank of America Corp DE now owns 213,256 shares of the company's stock valued at $1,036,000 after purchasing an additional 132,853 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC acquired a new stake in shares of Eos Energy Enterprises during the 4th quarter worth approximately $1,581,000. Brightline Capital Management LLC grew its holdings 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 worth $6,452,000 after acquiring an additional 48,000 shares during the period. Finally, Vanguard Group Inc. increased its holdings in Eos Energy Enterprises by 0.6% in the first quarter. Vanguard Group Inc. now owns 10,362,810 shares of the company's stock valued at $39,171,000 after purchasing an additional 59,762 shares during the last quarter. Institutional investors own 54.87% of the company's stock.

Eos Energy Enterprises Stock Performance

Shares of NASDAQ:EOSE traded down $0.11 during mid-day trading on Wednesday, reaching $6.87. 12,851,682 shares of the company's stock were exchanged, compared to its average volume of 11,068,173. The firm has a market capitalization of $1.79 billion, a price-to-earnings ratio of -1.32 and a beta of 2.17. Eos Energy Enterprises, Inc. has a twelve month low of $2.06 and a twelve month high of $8.09. The business's fifty day moving average price is $6.13 and its 200-day moving average price is $5.19.

Eos Energy Enterprises (NASDAQ:EOSE - Get Free Report) last posted its quarterly earnings data on Wednesday, July 30th. The company reported ($1.05) 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. 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 Eos Energy Enterprises news, General Counsel Michael W. Silberman sold 65,625 shares of the company's stock in a transaction on Tuesday, July 29th. The shares were sold at an average price of $5.94, for a total transaction of $389,812.50. Following the transaction, the general counsel owned 241,612 shares in the company, valued at approximately $1,435,175.28. This represents a 21.36% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Alexander Dimitrief sold 45,000 shares of the firm'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 transaction, the director owned 219,452 shares in the company, valued at $1,316,712. This represents a 17.02% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 683,198 shares of company stock worth $4,010,778 in the last ninety days. 3.30% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

EOSE has been the topic of several research analyst reports. Stifel Nicolaus dropped their price objective on 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 lowered Eos Energy Enterprises from a "hold" rating to a "sell" rating in a report on Sunday, August 3rd. Jefferies Financial Group assumed coverage on shares of Eos Energy Enterprises in a research note on Friday, September 5th. They issued a "hold" rating and a $6.50 price target for the company. TD Cowen increased their price target on Eos Energy Enterprises from $5.50 to $6.00 and gave the company a "hold" rating in a research note on Friday, August 1st. Finally, Guggenheim boosted their price objective on Eos Energy Enterprises from $6.00 to $10.00 and gave the stock a "buy" rating in a report on Friday, September 5th. Two analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Hold" and a consensus target price of $7.20.

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.