Invesco Ltd. Trims Stock Holdings in Eos Energy Enterprises, Inc. $EOSE

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

Several other institutional investors have also recently bought and sold shares of the business. Cetera Investment Advisers purchased a new stake in shares of Eos Energy Enterprises in the first quarter valued at about $197,000. Bank of America Corp DE grew its position in Eos Energy Enterprises by 165.2% in the 4th quarter. Bank of America Corp DE now owns 213,256 shares of the company's stock worth $1,036,000 after purchasing an additional 132,853 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC purchased a new stake in Eos Energy Enterprises in the 4th quarter valued at about $1,581,000. Vanguard Group Inc. increased its stake in Eos Energy Enterprises by 0.6% in the 1st quarter. Vanguard Group Inc. now owns 10,362,810 shares of the company's stock valued at $39,171,000 after buying an additional 59,762 shares during the last quarter. Finally, California State Teachers Retirement System purchased a new stake in Eos Energy Enterprises in the 4th quarter valued at about $908,000. Institutional investors and hedge funds own 54.87% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts have commented on the stock. Stifel Nicolaus decreased their price objective on shares of Eos Energy Enterprises from $9.00 to $8.50 and set a "buy" rating for the company in a research note on Monday, June 9th. 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 note on Friday, August 1st. Guggenheim decreased their price objective on shares of Eos Energy Enterprises from $7.00 to $6.00 and set a "buy" rating for the company in a research note on Monday, June 2nd. Finally, Wall Street Zen lowered shares of Eos Energy Enterprises from a "hold" rating to a "sell" rating in a research note on Sunday, August 3rd. 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.com, the company presently has an average rating of "Hold" and an average target price of $6.38.

Eos Energy Enterprises Stock Up 1.5%

NASDAQ EOSE traded up $0.11 during trading hours on Wednesday, reaching $7.62. 16,688,515 shares of the company were exchanged, compared to its average volume of 10,650,426. Eos Energy Enterprises, Inc. has a 1 year low of $2.06 and a 1 year high of $8.09. The business's 50 day simple moving average is $5.90 and its 200-day simple moving average is $5.11. The stock has a market capitalization of $1.98 billion, a P/E ratio of -1.46 and a beta of 2.17.

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

Insider Buying and Selling at Eos Energy Enterprises

In other news, CAO Sumeet Puri sold 17,500 shares of Eos Energy Enterprises stock in a transaction dated Tuesday, July 29th. The shares were sold at an average price of $5.94, for a total value of $103,950.00. Following the completion of the transaction, the chief accounting officer owned 136,457 shares in the company, valued at $810,554.58. This trade represents 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 the SEC website. Also, Director Marian Walters sold 50,000 shares of Eos Energy Enterprises stock in a transaction dated Wednesday, September 3rd. The stock was sold at an average price of $7.90, for a total transaction of $395,000.00. Following the completion of the transaction, the director owned 133,794 shares of the company's stock, valued at $1,056,972.60. The trade was a 27.20% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 642,697 shares of company stock valued at $3,722,816 in the last three months. 3.63% of the stock is owned by corporate 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.