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

Shares of Eos Energy Enterprises, Inc. (NASDAQ:EOSE) 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.

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:EOSE) 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

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.