Eos Energy Enterprises, Inc. (NASDAQ:EOSE – Get Free Report) CFO Nathan Kroeker sold 35,289 shares of the stock in a transaction dated Tuesday, June 30th. The stock was sold at an average price of $5.86, for a total transaction of $206,793.54. Following the sale, the chief financial officer owned 697,801 shares of the company’s stock, valued at approximately $4,089,113.86. This represents a 4.81% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available 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 Price Performance
Shares of NASDAQ:EOSE opened at $5.89 on Wednesday. The stock’s 50-day moving average is $7.29 and its 200 day moving average is $9.33. The company has a market cap of $2.00 billion, a PE ratio of -0.88 and a beta of 2.62. Eos Energy Enterprises, Inc. has a 1 year low of $4.37 and a 1 year high of $19.86.
Eos Energy Enterprises (NASDAQ:EOSE – Get Free Report) last released its quarterly earnings data on Wednesday, May 13th. The company reported $0.12 earnings per share for the quarter, topping the consensus estimate of ($0.22) by $0.34. The business had revenue of $56.96 million during the quarter, compared to analysts’ expectations of $54.32 million. Analysts expect that Eos Energy Enterprises, Inc. will post -0.31 EPS for the current fiscal year.
Key Headlines Impacting Eos Energy Enterprises
- Negative Sentiment: Eos announced a registered direct offering of common stock and warrants to raise funds for its contribution to Frontier Power USA, with 13.7 million shares and 6.0 million warrants priced at $5.481 per share, raising dilution concerns for existing shareholders. Article Title
- Positive Sentiment: Hudson Bay Capital’s broader $125 million commitment includes $75 million of investment support for Eos, which helps fund the Frontier Power USA strategy and provides additional financing support. Article Title
- Neutral Sentiment: The company 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: Three insiders, including CFO Nathan Kroeker and CAO Sumeet Puri, sold shares on June 30, adding to the cautious tone around the stock even though the trades were pre-planned and related to tax withholding. Article Title
Analyst Ratings Changes
Several brokerages have commented on EOSE. B. Riley Financial decreased their price objective on shares of Eos Energy Enterprises from $12.00 to $8.00 and set a “neutral” rating for the company in a report on Thursday, March 5th. TD Cowen lifted their target price on shares of Eos Energy Enterprises from $7.00 to $8.00 and gave the company a “hold” rating in a research note on Thursday, May 14th. Wall Street Zen upgraded shares of Eos Energy Enterprises from a “sell” rating to a “hold” rating in a research report on Sunday, June 21st. JPMorgan Chase & Co. decreased their price target 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. Finally, Needham & Company LLC initiated coverage on shares of Eos Energy Enterprises in a report on Friday, May 22nd. They issued a “buy” rating and a $11.00 price objective for the company. Two equities research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $10.94.
Check Out Our Latest Report on Eos Energy Enterprises
Hedge Funds Weigh In On Eos Energy Enterprises
Several institutional investors and hedge funds have recently added to or reduced their stakes in EOSE. Inspire Investing LLC grew its holdings in Eos Energy Enterprises by 2.2% in the fourth quarter. Inspire Investing LLC now owns 41,442 shares of the company’s stock worth $475,000 after purchasing an additional 882 shares during the period. Towarzystwo Funduszy Inwestycyjnych PZU SA lifted its holdings in shares of Eos Energy Enterprises by 58.8% during the fourth quarter. Towarzystwo Funduszy Inwestycyjnych PZU SA now owns 2,700 shares of the company’s stock valued at $31,000 after purchasing an additional 1,000 shares during the last quarter. GAMMA Investing LLC lifted its holdings in shares of Eos Energy Enterprises by 46.4% during the fourth quarter. GAMMA Investing LLC now owns 3,270 shares of the company’s stock valued at $37,000 after purchasing an additional 1,036 shares during the last quarter. Diversify Advisory Services LLC boosted its position in shares of Eos Energy Enterprises by 6.5% in the 3rd quarter. Diversify Advisory Services LLC now owns 17,124 shares of the company’s stock worth $195,000 after purchasing an additional 1,049 shares in the last quarter. Finally, Caitong International Asset Management Co. Ltd boosted its position in shares of Eos Energy Enterprises by 33.1% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 5,732 shares of the company’s stock worth $66,000 after purchasing an additional 1,425 shares in the last quarter. Hedge funds and other institutional investors own 54.87% of the company’s stock.
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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