Eos Energy Enterprises, Inc. (NASDAQ:EOSE – Get Free Report) insider Michelle Buczkowski sold 11,469 shares of the stock in a transaction on Tuesday, June 30th. The shares were sold at an average price of $5.87, for a total transaction of $67,323.03. Following the completion of the sale, the insider directly owned 59,242 shares in the company, valued at approximately $347,750.54. This represents a 16.22% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards.
Eos Energy Enterprises Trading Down 5.6%
EOSE stock opened at $5.55 on Thursday. The stock has a market cap of $1.88 billion, a PE ratio of -0.83 and a beta of 2.69. Eos Energy Enterprises, Inc. has a 12 month low of $4.37 and a 12 month high of $19.86. The company has a 50-day moving average price of $7.26 and a 200 day moving average price of $9.26.
Eos Energy Enterprises (NASDAQ:EOSE – Get Free Report) last posted its quarterly earnings data on Wednesday, May 13th. The company reported $0.12 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.22) by $0.34. The firm had revenue of $56.96 million during the quarter, compared to analysts’ expectations of $54.32 million. Sell-side analysts forecast that Eos Energy Enterprises, Inc. will post -0.31 EPS for the current year.
Institutional Investors Weigh In On Eos Energy Enterprises
Analysts Set New Price Targets
EOSE has been the topic of several research reports. Wall Street Zen upgraded Eos Energy Enterprises from a “sell” rating to a “hold” rating in a report on Sunday, June 21st. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Eos Energy Enterprises in a research report on Tuesday, April 21st. B. Riley Financial dropped their price objective on shares of Eos Energy Enterprises from $12.00 to $8.00 and set a “neutral” rating on the stock in a research note on Thursday, March 5th. TD Cowen lifted their price objective on shares of Eos Energy Enterprises from $7.00 to $8.00 and gave the company a “hold” rating in a report on Thursday, May 14th. Finally, JPMorgan Chase & Co. reduced their price objective on shares of Eos Energy Enterprises from $9.00 to $6.00 and set a “neutral” rating for the company in a research note on Thursday, April 16th. Two research analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $10.94.
View Our Latest Stock Report on Eos Energy Enterprises
Trending Headlines about Eos Energy Enterprises
Here are the key news stories impacting Eos Energy Enterprises this week:
- Positive Sentiment: Eos said Hudson Bay Capital’s broader $125 million commitment includes $75 million of investment support for Eos, helping fund its Frontier Power USA strategy and easing some financing risk. Article Title
- Positive Sentiment: The company’s recent update suggests progress on securing funding for its long-duration energy storage expansion and the Frontier Power USA joint venture. Article Title
- Neutral Sentiment: Eos updated the terms of its rights distribution to existing holders, clarifying how shareholders and warrant holders can participate in the financing process. Article Title
- Negative Sentiment: The company priced a registered direct offering of 13.7 million shares and 6.0 million warrants at $5.481 per share, which raises dilution concerns for current shareholders. Article Title
- Negative Sentiment: Several insiders, including CFO Nathan Kroeker, CAO Sumeet Puri, and other executives, sold shares under pre-arranged 10b5-1 plans, adding a cautious tone to the stock. Article Title
About Eos Energy Enterprises
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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