Eos Energy Enterprises, Inc. $EOSE Shares Sold by Invesco Ltd.

Key Points

• Invesco Ltd. sold 250,105 shares of Eos Energy Enterprises, reducing its holdings by 17.3% to a total of 1,197,191 shares valued at approximately $4.5 million.
• Analysts have recently issued mixed ratings for Eos Energy, with two recommending a "buy" and four others suggesting a "hold", while the average price target has been set at $6.38.
• Insider transactions included significant sales by the CEO and a director, with a combined reduction in their holdings, raising concerns regarding company leadership confidence.

Invesco Ltd. reduced its position in shares of Eos Energy Enterprises, Inc. (NASDAQ:EOSE - Free Report) by 17.3% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,197,191 shares of the company's stock after selling 250,105 shares during the period. Invesco Ltd. owned about 0.53% of Eos Energy Enterprises worth $4,525,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. KBC Group NV acquired a new position in shares of Eos Energy Enterprises during the first quarter worth $38,000. SBI Securities Co. Ltd. lifted its position in shares of Eos Energy Enterprises by 588.0% during the first quarter. SBI Securities Co. Ltd. now owns 10,065 shares of the company's stock worth $38,000 after purchasing an additional 8,602 shares in the last quarter. Parallel Advisors LLC acquired a new position in shares of Eos Energy Enterprises during the first quarter worth $43,000. Carmel Capital Partners LLC lifted its position in shares of Eos Energy Enterprises by 24.5% during the first quarter. Carmel Capital Partners LLC now owns 12,450 shares of the company's stock worth $47,000 after purchasing an additional 2,450 shares in the last quarter. Finally, Cannon Global Investment Management LLC acquired a new position in shares of Eos Energy Enterprises during the first quarter worth $57,000. 54.87% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the stock. Stifel Nicolaus cut 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 report on Monday, June 9th. Wall Street Zen cut shares of Eos Energy Enterprises from a "hold" rating to a "sell" rating in a report on Sunday, August 3rd. TD Cowen upped 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. Finally, Guggenheim cut their price target on shares of Eos Energy Enterprises from $7.00 to $6.00 and set a "buy" rating on the stock in a report on Monday, June 2nd. Two analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus price target of $6.38.

Eos Energy Enterprises Stock Down 3.2%

EOSE stock traded down $0.23 during trading on Monday, hitting $6.90. 8,664,306 shares of the company's stock traded hands, compared to its average volume of 11,433,310. Eos Energy Enterprises, Inc. has a 52 week low of $2.06 and a 52 week high of $7.36. The stock has a fifty day moving average price of $5.72 and a two-hundred day moving average price of $5.06. The stock has a market capitalization of $1.79 billion, a price-to-earnings ratio of -1.32 and a beta of 2.16.

Eos Energy Enterprises (NASDAQ:EOSE - Get Free Report) last released its earnings results 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 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 research analysts expect that Eos Energy Enterprises, Inc. will post -2.54 EPS for the current fiscal year.

Insider Activity

In other Eos Energy Enterprises news, CAO Sumeet Puri sold 17,500 shares of the business'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 $103,950.00. Following the completion of the sale, the chief accounting officer owned 136,457 shares in the company, valued at $810,554.58. The trade was a 11.37% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Alexander Dimitrief sold 45,000 shares of the company's stock in a transaction dated Monday, August 4th. The stock was sold at an average price of $6.00, for a total transaction of $270,000.00. Following the transaction, the director owned 219,452 shares of the company's stock, 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 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.

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.