Insider Selling: Eos Energy Enterprises (NASDAQ:EOSE) Director Sells 50,000 Shares of Stock

Key Points

• Director Marian Walters of Eos Energy Enterprises sold 50,000 shares at an average price of $7.90, totaling $395,000, resulting in a 27.20% decrease in her position.
• The company's stock has seen a 1.5% increase, reaching $7.62, with a market cap of $1.98 billion and significant trading volume of over 16 million shares.
• Analysts have set varied price targets for Eos Energy, with a consensus rating of "Hold" and an average target price of $6.38, amid a miss in quarterly earnings expectations.

Eos Energy Enterprises, Inc. (NASDAQ:EOSE - Get Free Report) Director Marian Walters sold 50,000 shares of the company's stock in a transaction that occurred on 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 sale, the director owned 133,794 shares in the company, valued at approximately $1,056,972.60. This represents a 27.20% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link.

Eos Energy Enterprises Stock Up 1.5%

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

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

Hedge Funds Weigh In On Eos Energy Enterprises

A number of hedge funds have recently modified their holdings of the business. Vanguard Group Inc. grew its holdings in shares of Eos Energy Enterprises by 0.6% during the 1st 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. Electron Capital Partners LLC grew its holdings in shares of Eos Energy Enterprises by 39.9% during the 2nd quarter. Electron Capital Partners LLC now owns 6,979,422 shares of the company's stock worth $35,735,000 after purchasing an additional 1,989,144 shares during the period. Geode Capital Management LLC boosted its holdings in Eos Energy Enterprises by 101.4% during the 2nd quarter. Geode Capital Management LLC now owns 5,407,930 shares of the company's stock valued at $27,692,000 after acquiring an additional 2,722,495 shares during the period. Goldman Sachs Group Inc. boosted its holdings in Eos Energy Enterprises by 36.8% during the 1st quarter. Goldman Sachs Group Inc. now owns 3,900,513 shares of the company's stock valued at $14,744,000 after acquiring an additional 1,050,128 shares during the period. Finally, Driehaus Capital Management LLC purchased a new position in Eos Energy Enterprises during the 1st quarter valued at about $13,456,000. 54.87% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research firms recently commented on EOSE. Guggenheim reduced their price objective on 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. TD Cowen increased their price objective on Eos Energy Enterprises from $5.50 to $6.00 and gave the company a "hold" rating in a research note on Friday, August 1st. Stifel Nicolaus reduced their price objective 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. Finally, Wall Street Zen downgraded Eos Energy Enterprises from a "hold" rating to a "sell" rating in a research note on Sunday, August 3rd. Two equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company's stock. According to MarketBeat.com, Eos Energy Enterprises currently has a consensus rating of "Hold" and an average target price of $6.38.

About Eos Energy Enterprises

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.