Eos Energy Enterprises (NASDAQ:EOSE) Shares Down 9.2% – Here’s What Happened

Eos Energy Enterprises, Inc. (NASDAQ:EOSE)’s share price traded down 9.2% during trading on Friday . The company traded as low as $11.58 and last traded at $11.6970. 9,830,153 shares were traded during mid-day trading, a decline of 30% from the average session volume of 14,059,018 shares. The stock had previously closed at $12.88.

Wall Street Analyst Weigh In

Several research analysts have recently commented on EOSE shares. Roth Capital set a $12.00 price target on shares of Eos Energy Enterprises and gave the company a “neutral” rating in a report on Wednesday, October 22nd. Weiss Ratings restated a “sell (d-)” rating on shares of Eos Energy Enterprises in a research note on Wednesday, October 8th. TD Cowen lifted their price objective on shares of Eos Energy Enterprises from $5.50 to $6.00 and gave the company a “hold” rating in a research note on Friday, August 1st. Zacks Research downgraded Eos Energy Enterprises from a “hold” rating to a “strong sell” rating in a research report on Wednesday, October 29th. Finally, Wall Street Zen cut shares of Eos Energy Enterprises from a “hold” rating to a “sell” rating in a research note on Saturday, November 8th. Two research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $11.93.

Eos Energy Enterprises Stock Performance

The stock has a market cap of $3.55 billion, a PE ratio of -1.47 and a beta of 2.32. The stock has a 50 day moving average of $13.67 and a two-hundred day moving average of $8.45.

Eos Energy Enterprises (NASDAQ:EOSE) last announced its earnings results on Wednesday, November 5th. The company reported ($2.77) EPS for the quarter, missing the consensus estimate of ($0.31) by ($2.46). The business had revenue of $30.51 million for the quarter, compared to the consensus estimate of $39.55 million. Eos Energy Enterprises has set its FY 2025 guidance at EPS. Analysts expect that Eos Energy Enterprises, Inc. will post -2.54 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, Director Marian Walters sold 50,000 shares of the company’s stock in a transaction on Wednesday, September 3rd. The stock was sold at an average price of $7.90, for a total transaction of $395,000.00. Following the transaction, the director directly 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Sumeet Puri sold 40,501 shares of the firm’s stock in a transaction dated Monday, September 8th. The stock was sold at an average price of $7.11, for a total value of $287,962.11. Following the sale, the chief accounting officer owned 164,290 shares of the company’s stock, valued at $1,168,101.90. The trade was a 19.78% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders own 3.30% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Farther Finance Advisors LLC boosted its position in Eos Energy Enterprises by 33.0% during the third quarter. Farther Finance Advisors LLC now owns 3,325 shares of the company’s stock valued at $38,000 after purchasing an additional 825 shares during the last quarter. Diversify Advisory Services LLC lifted its stake in Eos Energy Enterprises by 6.5% in the third quarter. Diversify Advisory Services LLC now owns 17,124 shares of the company’s stock valued at $195,000 after acquiring an additional 1,049 shares during the last quarter. Investment Advisory Group LLC grew its position in Eos Energy Enterprises by 7.0% in the third quarter. Investment Advisory Group LLC now owns 23,000 shares of the company’s stock worth $262,000 after acquiring an additional 1,500 shares in the last quarter. Copia Wealth Management increased its stake in shares of Eos Energy Enterprises by 54.7% during the 3rd quarter. Copia Wealth Management now owns 4,796 shares of the company’s stock worth $55,000 after purchasing an additional 1,696 shares during the last quarter. Finally, SBI Securities Co. Ltd. increased its stake in shares of Eos Energy Enterprises by 23.6% during the 2nd quarter. SBI Securities Co. Ltd. now owns 12,444 shares of the company’s stock worth $64,000 after purchasing an additional 2,379 shares during the last quarter. 54.87% of the stock is owned by hedge funds and other institutional investors.

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.