Eos Energy Enterprises (NASDAQ:EOSE) Trading Up 7.4% – Here’s Why

by · The Markets Daily

Shares of Eos Energy Enterprises, Inc. (NASDAQ:EOSEGet Free Report) shot up 7.4% during mid-day trading on Wednesday . The stock traded as high as $16.30 and last traded at $16.1230. 13,767,883 shares changed hands during mid-day trading, a decline of 38% from the average session volume of 22,105,316 shares. The stock had previously closed at $15.01.

Wall Street Analyst Weigh In

EOSE has been the subject of a number of recent research reports. Zacks Research raised Eos Energy Enterprises from a “strong sell” rating to a “hold” rating in a research report on Monday, January 12th. Roth Mkm set a $12.00 price target on Eos Energy Enterprises and gave the stock a “neutral” rating in a research note on Wednesday, October 22nd. Guggenheim increased their price target on Eos Energy Enterprises from $10.00 to $20.00 and gave the stock a “buy” rating in a report on Wednesday, October 22nd. Stifel Nicolaus lifted their price objective on shares of Eos Energy Enterprises from $10.00 to $22.00 and gave the company a “buy” rating in a research report on Wednesday, October 15th. Finally, B. Riley upped their price objective on shares of Eos Energy Enterprises from $8.00 to $12.00 and gave the stock a “neutral” rating in a research report on Tuesday, November 11th. Two analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $13.50.

Get Our Latest Report on Eos Energy Enterprises

Eos Energy Enterprises Stock Down 9.1%

The stock has a fifty day moving average of $14.46 and a two-hundred day moving average of $11.76. The stock has a market cap of $4.22 billion, a price-to-earnings ratio of -1.75 and a beta of 2.11.

Eos Energy Enterprises (NASDAQ:EOSEGet Free Report) last released its earnings results on Wednesday, November 5th. The company reported ($2.77) EPS for the quarter, missing analysts’ consensus estimates of ($0.31) by ($2.46). The business had revenue of $30.51 million during the quarter, compared to the consensus estimate of $39.55 million. On average, research analysts expect that Eos Energy Enterprises, Inc. will post -2.54 EPS for the current year.

Insider Activity at Eos Energy Enterprises

In other news, Director Russell Monoki Stidolph sold 29,999 shares of the business’s stock in a transaction that occurred on Monday, December 8th. The stock was sold at an average price of $15.36, for a total transaction of $460,784.64. Following the sale, the director owned 2,123,273 shares of the company’s stock, valued at $32,613,473.28. The trade was a 1.39% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Nathan Kroeker sold 50,000 shares of the company’s stock in a transaction that occurred on Monday, January 26th. The stock was sold at an average price of $16.04, for a total value of $802,000.00. Following the completion of the sale, the chief financial officer owned 662,512 shares in the company, valued at approximately $10,626,692.48. This represents a 7.02% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 907,801 shares of company stock worth $13,803,507 in the last ninety days. Corporate insiders own 3.30% of the company’s stock.

Institutional Trading of Eos Energy Enterprises

A number of institutional investors have recently bought and sold shares of EOSE. Vanguard Group Inc. grew its holdings in Eos Energy Enterprises by 19.8% in the fourth quarter. Vanguard Group Inc. now owns 18,616,874 shares of the company’s stock valued at $213,349,000 after purchasing an additional 3,080,012 shares during the last quarter. Rubric Capital Management LP purchased a new stake in shares of Eos Energy Enterprises in the 3rd quarter worth about $117,317,000. Electron Capital Partners LLC grew its stake in Eos Energy Enterprises by 39.9% in the 2nd quarter. Electron Capital Partners LLC now owns 6,979,422 shares of the company’s stock valued at $35,735,000 after acquiring an additional 1,989,144 shares during the last quarter. Geode Capital Management LLC increased 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 in the last quarter. Finally, Goldman Sachs Group Inc. increased 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 in the last quarter. 54.87% of the stock is currently owned by hedge funds and other institutional investors.

Eos Energy Enterprises Company Profile

(Get Free Report)

Eos Energy Enterprises specializes in the development and deployment of scalable, long-duration energy storage systems designed to support the integration of renewable power and enhance grid reliability. The company’s core technology centers on its proprietary zinc hybrid cathode (Znyth™) battery platform, which aims to deliver safe, low-cost, and durable performance for utility, commercial and industrial, and microgrid applications.

The company’s flagship product, the Aurora™ energy storage system, combines its Znyth™ cells with modular power conversion and controls to offer flexible capacity ranging from one to three hours of discharge duration.

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