Hsbc Holdings PLC Buys New Position in Eos Energy Enterprises, Inc. $EOSE

Key Points

• Hsbc Holdings PLC has acquired a new stake in Eos Energy Enterprises, purchasing 44,255 shares valued at approximately $167,000 in the first quarter.
• Eos Energy Enterprises reported a significant earnings miss for the last quarter, posting an EPS of ($1.05) compared to the expected ($0.17), alongside revenue of $15.24 million, below the consensus estimate of $24.96 million.
• Multiple analysts have revised their ratings on Eos Energy stock, with Guggenheim upgrading its target price from $6.00 to $10.00 and some analysts issuing "sell" ratings amidst mixed evaluations.

Hsbc Holdings PLC purchased a new stake in shares of Eos Energy Enterprises, Inc. (NASDAQ:EOSE - Free Report) in the first quarter, according to its most recent Form 13F filing with the SEC. The firm purchased 44,255 shares of the company's stock, valued at approximately $167,000.

A number of other large investors also recently bought and sold shares of the business. Vanguard Group Inc. lifted its position 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 during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new position in Eos Energy Enterprises during the 4th quarter valued at about $16,632,000. American Financial Group Inc. lifted its position in Eos Energy Enterprises by 174.0% during the 1st quarter. American Financial Group Inc. now owns 1,861,930 shares of the company's stock valued at $7,038,000 after acquiring an additional 1,182,310 shares during the period. Millennium Management LLC raised its holdings in Eos Energy Enterprises by 2.4% in the fourth quarter. Millennium Management LLC now owns 1,625,802 shares of the company's stock worth $7,901,000 after buying an additional 38,770 shares during the last quarter. Finally, Northern Trust Corp raised its holdings in Eos Energy Enterprises by 15.9% in the fourth quarter. Northern Trust Corp now owns 520,680 shares of the company's stock worth $2,531,000 after buying an additional 71,597 shares during the last quarter. 54.87% of the stock is owned by hedge funds and other institutional investors.

Eos Energy Enterprises Stock Performance

Shares of EOSE traded up $0.35 during mid-day trading on Thursday, hitting $7.22. 8,497,555 shares of the company traded hands, compared to its average volume of 10,952,794. The stock has a 50-day moving average price of $6.17 and a two-hundred day moving average price of $5.21. Eos Energy Enterprises, Inc. has a 1 year low of $2.06 and a 1 year high of $8.09. The stock has a market cap of $1.88 billion, a price-to-earnings ratio of -1.38 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 the consensus estimate of ($0.17) by ($0.88). The firm 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. On average, analysts forecast that Eos Energy Enterprises, Inc. will post -2.54 EPS for the current year.

Wall Street Analyst Weigh In

Several brokerages have issued reports on EOSE. TD Cowen lifted their target price on shares of Eos Energy Enterprises from $5.50 to $6.00 and gave the stock a "hold" rating in a report on Friday, August 1st. 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 target price for the company. Wall Street Zen cut shares of Eos Energy Enterprises from a "hold" rating to a "sell" rating in a report on Sunday, August 3rd. Guggenheim lifted their target price on shares of Eos Energy Enterprises from $6.00 to $10.00 and gave the stock a "buy" rating in a report on Friday, September 5th. Finally, Stifel Nicolaus decreased their target price on shares of Eos Energy Enterprises from $9.00 to $8.50 and set a "buy" rating for the company in a report on Monday, June 9th. Two investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Hold" and a consensus target price of $7.20.

Insider Activity

In other news, General Counsel Michael W. Silberman sold 65,625 shares of the business's 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 $389,812.50. Following the completion of the transaction, the general counsel directly owned 241,612 shares of the company's stock, valued at $1,435,175.28. The trade was a 21.36% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Nathan Kroeker sold 99,375 shares of the business's 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 owned 612,512 shares of the company's stock, valued at $3,638,321.28. This trade represents a 13.96% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 683,198 shares of company stock valued at $4,010,778 over the last three months. Corporate 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.