Kestra Advisory Services LLC Sells 171,251 Shares of Eos Energy Enterprises, Inc. $EOSE

Key Points

• Kestra Advisory Services LLC reduced its stake in Eos Energy by 31.5%, selling 171,251 shares and owning 372,698 shares valued at approximately $1.4 million as of the end of the last quarter.
• Eos Energy Enterprises reported a loss of ($1.05) EPS for the recent quarter, missing consensus estimates by ($0.88) and generating revenue of only $15.24 million, well below expectations.
• Analysts' ratings on Eos Energy stock vary, with one firm lowering its rating to "sell" while others maintain their positions with "hold" or "buy" recommendations, suggesting a consensus price target of $6.38.

Kestra Advisory Services LLC decreased its position in shares of Eos Energy Enterprises, Inc. (NASDAQ:EOSE - Free Report) by 31.5% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 372,698 shares of the company's stock after selling 171,251 shares during the quarter. Kestra Advisory Services LLC owned approximately 0.16% of Eos Energy Enterprises worth $1,409,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of EOSE. Wells Fargo & Company MN boosted its holdings in shares of Eos Energy Enterprises by 3.6% during the 4th quarter. Wells Fargo & Company MN now owns 62,075 shares of the company's stock valued at $302,000 after acquiring an additional 2,175 shares in the last quarter. Raymond James Financial Inc. acquired a new stake in shares of Eos Energy Enterprises during the 4th quarter valued at $315,000. Barclays PLC boosted its holdings in shares of Eos Energy Enterprises by 593.8% during the 4th quarter. Barclays PLC now owns 58,378 shares of the company's stock valued at $283,000 after acquiring an additional 49,964 shares in the last quarter. Beacon Pointe Advisors LLC acquired a new stake in shares of Eos Energy Enterprises during the 4th quarter valued at $203,000. Finally, Northern Trust Corp boosted its holdings in shares of Eos Energy Enterprises by 15.9% during the 4th quarter. Northern Trust Corp now owns 520,680 shares of the company's stock valued at $2,531,000 after acquiring an additional 71,597 shares in the last quarter. Institutional investors and hedge funds own 54.87% of the company's stock.

Insider Buying and Selling at Eos Energy Enterprises

In related news, General Counsel Michael W. Silberman sold 65,625 shares of Eos Energy Enterprises stock in a transaction that occurred on Tuesday, July 29th. The stock was 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 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Joe Mastrangelo sold 166,667 shares of the stock in a transaction on Tuesday, July 29th. The shares were sold at an average price of $5.94, for a total value of $990,001.98. Following the transaction, the chief executive officer directly owned 1,403,226 shares of the company's stock, valued at approximately $8,335,162.44. This trade represents a 10.62% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 592,697 shares of company stock worth $3,327,816 in the last quarter. Company insiders own 3.63% of the company's stock.

Analyst Ratings Changes

Several research analysts have commented on the company. Stifel Nicolaus cut their target price on Eos Energy Enterprises from $9.00 to $8.50 and set a "buy" rating on the stock in a report on Monday, June 9th. Guggenheim cut their target price on Eos Energy Enterprises from $7.00 to $6.00 and set a "buy" rating on the stock in a report on Monday, June 2nd. Wall Street Zen downgraded Eos Energy Enterprises from a "hold" rating to a "sell" rating in a report on Sunday, August 3rd. Finally, TD Cowen lifted their target price on Eos Energy Enterprises from $5.50 to $6.00 and gave the stock a "hold" rating in a report on Friday, August 1st. Two analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat.com, Eos Energy Enterprises currently has a consensus rating of "Hold" and a consensus target price of $6.38.

Eos Energy Enterprises Stock Performance

Shares of Eos Energy Enterprises stock traded up $0.11 on Wednesday, reaching $7.62. 16,688,515 shares of the company's stock were exchanged, compared to its average volume of 10,643,234. The company has a market capitalization of $1.98 billion, a P/E ratio of -1.46 and a beta of 2.17. Eos Energy Enterprises, Inc. has a 52 week low of $2.06 and a 52 week high of $8.09. The firm's 50-day moving average is $5.83 and its two-hundred day moving average is $5.09.

Eos Energy Enterprises (NASDAQ:EOSE - Get Free Report) last posted its quarterly earnings results 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 business had revenue of $15.24 million during the quarter, compared to analysts' expectations of $24.96 million. Eos Energy Enterprises has set its FY 2025 guidance at EPS. On average, analysts expect that Eos Energy Enterprises, Inc. will post -2.54 EPS for the current fiscal year.

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.