MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. Increases Stake in Eos Energy Enterprises, Inc. $EOSE

Key Points

• MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in Eos Energy Enterprises by 1.5%, totaling approximately 3.29 million shares valued at $12.93 million.
• Eos Energy Enterprises reported disappointing earnings with an EPS of ($1.05), missing analysts’ expectations and generating $15.24 million in revenue for the quarter.
• Recent analyst ratings show a mix of opinions, with Guggenheim upgrading the price target to $10.00 while others maintain a "hold" rating and price targets ranging from $5.50 to $8.50.

MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in shares of Eos Energy Enterprises, Inc. (NASDAQ:EOSE - Free Report) by 1.5% during the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 3,286,648 shares of the company's stock after buying an additional 50,117 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. owned approximately 1.45% of Eos Energy Enterprises worth $12,925,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. Vanguard Group Inc. raised its holdings 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 buying an additional 59,762 shares during the period. Driehaus Capital Management LLC bought a new position in Eos Energy Enterprises in the 1st quarter valued at $13,456,000. American Financial Group Inc. grew its position in Eos Energy Enterprises by 174.0% in 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 last quarter. Brightline Capital Management LLC grew its position in Eos Energy Enterprises by 2.9% in the 1st quarter. Brightline Capital Management LLC now owns 1,707,000 shares of the company's stock valued at $6,452,000 after acquiring an additional 48,000 shares during the last quarter. Finally, Millennium Management LLC grew its position in Eos Energy Enterprises by 2.4% in the 4th quarter. Millennium Management LLC now owns 1,625,802 shares of the company's stock valued at $7,901,000 after acquiring an additional 38,770 shares during the last quarter. Hedge funds and other institutional investors own 54.87% of the company's stock.

Insiders Place Their Bets

In other Eos Energy Enterprises news, CFO Nathan Kroeker sold 99,375 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 $590,287.50. Following the completion of the sale, the chief financial officer owned 612,512 shares of the company's stock, valued at approximately $3,638,321.28. This trade represents a 13.96% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Marian Walters sold 50,000 shares of the firm's stock in a transaction dated Wednesday, September 3rd. The stock was sold at an average price of $7.90, for a total value of $395,000.00. Following the completion of the transaction, the director owned 133,794 shares of the company's stock, valued at approximately $1,056,972.60. The trade was a 27.20% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 683,198 shares of company stock valued at $4,010,778. 3.30% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several brokerages have commented on EOSE. Jefferies Financial Group began coverage on Eos Energy Enterprises in a research report on Friday, September 5th. They issued a "hold" rating and a $6.50 price objective on the stock. TD Cowen upped their price objective on Eos Energy Enterprises from $5.50 to $6.00 and gave the company a "hold" rating in a research report on Friday, August 1st. Stifel Nicolaus cut their price objective on Eos Energy Enterprises from $9.00 to $8.50 and set a "buy" rating on the stock in a research report on Monday, June 9th. Wall Street Zen downgraded Eos Energy Enterprises from a "hold" rating to a "sell" rating in a research report on Sunday, August 3rd. Finally, Guggenheim increased their price target on Eos Energy Enterprises from $6.00 to $10.00 and gave the stock a "buy" rating in a research report on Friday, September 5th. Two research analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus target price of $7.20.

Eos Energy Enterprises Stock Performance

EOSE stock traded up $0.98 during trading on Friday, reaching $8.20. 19,094,937 shares of the company traded hands, compared to its average volume of 11,064,448. Eos Energy Enterprises, Inc. has a 12 month low of $2.06 and a 12 month high of $8.24. The business has a 50 day simple moving average of $6.24 and a 200 day simple moving average of $5.25. The company has a market capitalization of $2.13 billion, a price-to-earnings ratio of -1.57 and a beta of 2.16.

Eos Energy Enterprises (NASDAQ:EOSE - Get Free Report) last issued its quarterly earnings data on Wednesday, July 30th. The company reported ($1.05) earnings per share for the quarter, missing analysts' consensus estimates of ($0.17) by ($0.88). The company 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, research analysts forecast that Eos Energy Enterprises, Inc. will post -2.54 EPS for the current year.

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.