NewEdge Advisors LLC Sells 410,867 Shares of Eos Energy Enterprises, Inc. $EOSE

Key Points

• NewEdge Advisors LLC reduced its stake in Eos Energy Enterprises by 19.9%, selling 410,867 shares during the first quarter, leaving them with approximately 1.66 million shares valued at $6.26 million.
• Analyst ratings for Eos Energy Enterprises have fluctuated, with Stifel Nicolaus lowering their target price from $9.00 to $8.50, while Guggenheim increased their target price from $6.00 to $10.00, resulting in a consensus rating of "Hold" with a target price of $7.20.
• Corporate insiders have actively sold shares, with CFO Nathan Kroeker selling 99,375 shares and Director Alexander Dimitrief selling 45,000 shares, indicating a trend of insider selling amidst declining stock performance.

NewEdge Advisors LLC cut its stake in Eos Energy Enterprises, Inc. (NASDAQ:EOSE - Free Report) by 19.9% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,656,001 shares of the company's stock after selling 410,867 shares during the quarter. NewEdge Advisors LLC owned 0.73% of Eos Energy Enterprises worth $6,260,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Carmel Capital Partners LLC increased its stake in shares of Eos Energy Enterprises by 24.5% in the 1st quarter. Carmel Capital Partners LLC now owns 12,450 shares of the company's stock valued at $47,000 after acquiring an additional 2,450 shares during the last quarter. Meridian Wealth Management LLC increased its stake in shares of Eos Energy Enterprises by 2.6% in the 1st quarter. Meridian Wealth Management LLC now owns 102,400 shares of the company's stock valued at $387,000 after acquiring an additional 2,600 shares during the last quarter. Landscape Capital Management L.L.C. increased its stake in shares of Eos Energy Enterprises by 5.8% in the 1st quarter. Landscape Capital Management L.L.C. now owns 54,711 shares of the company's stock valued at $207,000 after acquiring an additional 2,980 shares during the last quarter. Cambridge Investment Research Advisors Inc. increased its stake in Eos Energy Enterprises by 16.9% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 33,053 shares of the company's stock worth $125,000 after purchasing an additional 4,767 shares in the last quarter. Finally, Van Hulzen Asset Management LLC increased its stake in Eos Energy Enterprises by 11.1% during the 1st quarter. Van Hulzen Asset Management LLC now owns 50,000 shares of the company's stock worth $189,000 after purchasing an additional 5,000 shares in the last quarter. 54.87% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of analysts recently issued reports on EOSE shares. Stifel Nicolaus lowered their target price on 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. Jefferies Financial Group started coverage on Eos Energy Enterprises in a research note on Friday. They set a "hold" rating and a $6.50 target price for the company. TD Cowen increased their target price on Eos Energy Enterprises from $5.50 to $6.00 and gave the stock a "hold" rating in a research note on Friday, August 1st. Guggenheim increased their target price on Eos Energy Enterprises from $6.00 to $10.00 and gave the stock a "buy" rating in a research note on Friday. Finally, Wall Street Zen cut Eos Energy Enterprises from a "hold" rating to a "sell" rating in a research note on Sunday, August 3rd. Two research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat, the company has a consensus rating of "Hold" and a consensus price target of $7.20.

Eos Energy Enterprises Stock Down 1.8%

NASDAQ:EOSE opened at $7.21 on Monday. Eos Energy Enterprises, Inc. has a twelve month low of $2.06 and a twelve month high of $8.09. The business has a 50 day moving average price of $6.01 and a two-hundred day moving average price of $5.14. The company has a market cap of $1.87 billion, a P/E ratio of -1.38 and a beta of 2.16.

Eos Energy Enterprises (NASDAQ:EOSE - Get Free Report) last released its quarterly earnings results 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 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. As a group, analysts anticipate that Eos Energy Enterprises, Inc. will post -2.54 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, CFO Nathan Kroeker sold 99,375 shares of the stock in a transaction that occurred on 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 represents a 13.96% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Alexander Dimitrief sold 45,000 shares of the stock in a transaction that occurred on Monday, August 4th. The shares were sold at an average price of $6.00, for a total value of $270,000.00. Following the completion of the sale, the director directly owned 219,452 shares of the company's stock, valued at approximately $1,316,712. The trade was a 17.02% 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 worth $3,722,816 in the last quarter. 3.30% 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.

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