J. Safra Sarasin Holding AG Purchases New Position in Eos Energy Enterprises, Inc. $EOSE

Key Points

• J. Safra Sarasin Holding AG has acquired a new stake in Eos Energy Enterprises, Inc., purchasing 37,500 shares valued at approximately $192,000 during the second quarter of 2023.
• The company's stock has shown significant volatility, with a 52-week low of $2.06 and a high of $13.51, and last opened at $12.60.
• In its latest earnings report, Eos Energy reported an EPS of -$1.05, missing analysts' expectations, and set a guidance for FY 2025 with a forecasted EPS of -$2.54.

J. Safra Sarasin Holding AG purchased a new stake in Eos Energy Enterprises, Inc. (NASDAQ:EOSE - Free Report) in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 37,500 shares of the company's stock, valued at approximately $192,000.

Other large investors have also recently added to or reduced their stakes in the company. Cetera Investment Advisers bought a new stake in Eos Energy Enterprises during the first quarter worth approximately $197,000. Vanguard Group Inc. boosted its position in Eos Energy Enterprises by 0.6% during the first quarter. Vanguard Group Inc. now owns 10,362,810 shares of the company's stock worth $39,171,000 after purchasing an additional 59,762 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC bought a new stake in Eos Energy Enterprises during the fourth quarter worth approximately $1,581,000. Brightline Capital Management LLC boosted its position in Eos Energy Enterprises by 2.9% during the first quarter. Brightline Capital Management LLC now owns 1,707,000 shares of the company's stock worth $6,452,000 after purchasing an additional 48,000 shares during the period. Finally, Driehaus Capital Management LLC bought a new stake in Eos Energy Enterprises during the first quarter worth approximately $13,456,000. Institutional investors own 54.87% of the company's stock.

Eos Energy Enterprises Stock Performance

Shares of EOSE stock opened at $12.60 on Monday. The stock's fifty day moving average is $7.71 and its 200-day moving average is $5.89. The stock has a market capitalization of $3.27 billion, a PE ratio of -2.41 and a beta of 2.29. Eos Energy Enterprises, Inc. has a 52 week low of $2.06 and a 52 week high of $13.51.

Eos Energy Enterprises (NASDAQ:EOSE - Get Free Report) last announced its earnings results on Wednesday, July 30th. The company reported ($1.05) EPS for the quarter, missing the consensus estimate of ($0.17) by ($0.88). The firm had revenue of $15.24 million during the quarter, compared to the consensus estimate of $24.96 million. Eos Energy Enterprises has set its FY 2025 guidance at EPS. As a group, analysts forecast that Eos Energy Enterprises, Inc. will post -2.54 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, Director Alexander Dimitrief sold 45,000 shares of the firm's stock in a transaction dated Monday, August 4th. The stock was sold at an average price of $6.00, for a total value of $270,000.00. Following the transaction, the director owned 219,452 shares in the company, valued at $1,316,712. This trade represents a 17.02% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, General Counsel Michael W. Silberman sold 65,625 shares of the firm's stock in a transaction dated Tuesday, July 29th. The stock was sold at an average price of $5.94, for a total value 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 trade represents a 21.36% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 659,074 shares of company stock valued at $3,885,092 over the last 90 days. Corporate insiders own 3.30% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on EOSE. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Eos Energy Enterprises in a research report on Saturday, September 27th. Stifel Nicolaus upped their price target on Eos Energy Enterprises from $8.50 to $10.00 and gave the stock a "buy" rating in a report on Friday, September 19th. Guggenheim upped their price target on Eos Energy Enterprises from $6.00 to $10.00 and gave the stock a "buy" rating in a report on Friday, September 5th. Jefferies Financial Group assumed coverage on Eos Energy Enterprises in a report on Friday, September 5th. They set a "hold" rating and a $6.50 price target for the company. Finally, B. Riley upped their price target on Eos Energy Enterprises from $5.00 to $8.00 and gave the stock a "neutral" rating in a report on Tuesday, September 30th. Two analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus price target of $7.58.

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.

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