Eos Energy Enterprises, Inc. (NASDAQ:EOSE – Get Free Report) CEO Joe Mastrangelo sold 159,154 shares of the firm’s stock in a transaction dated Monday, July 27th. The shares were sold at an average price of $3.61, for a total transaction of $574,545.94. Following the transaction, the chief executive officer directly owned 1,947,586 shares in the company, valued at $7,030,785.46. The trade was a 7.55% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.
Eos Energy Enterprises Stock Performance
Eos Energy Enterprises stock opened at $3.12 on Thursday. Eos Energy Enterprises, Inc. has a fifty-two week low of $3.11 and a fifty-two week high of $19.86. The firm’s 50-day simple moving average is $6.04 and its 200 day simple moving average is $8.06. The stock has a market cap of $1.06 billion, a PE ratio of -0.47 and a beta of 2.68.
Eos Energy Enterprises (NASDAQ:EOSE – Get Free Report) last posted its quarterly earnings data on Wednesday, May 13th. The company reported $0.12 EPS for the quarter, beating the consensus estimate 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. As a group, analysts predict that Eos Energy Enterprises, Inc. will post -0.32 EPS for the current fiscal year.
Eos Energy Enterprises News Summary
- Positive Sentiment: Eos batteries are expected to be used in Bimergen Energy’s recently closed 480 MWh Texas battery-storage portfolio, including the 100 MW/400 MWh Redbird project. The deal offers potential equipment demand and technology validation for Eos, although no contract value or revenue timing was disclosed. Bimergen Energy battery storage project sales
- Positive Sentiment: Analysts expect Eos to potentially beat estimates in its upcoming results, supported by the company’s previous quarterly outperformance. Eos most recently reported $0.12 in EPS versus a projected $0.22 loss and revenue of $56.96 million versus a $54.32 million consensus estimate. Zacks Eos earnings expectations
- Neutral Sentiment: Eos was expected to report quarterly earnings on Wednesday. The results, guidance and commentary on production, project execution and cash needs could determine whether the stock’s sharp decline can stabilize. Eos expected earnings report
- Negative Sentiment: CEO Joe Mastrangelo sold 159,154 shares for approximately $574,546, reducing his direct holdings by 7.55%. Chief Accounting Officer Sumeet Puri sold 29,167 shares worth about $98,001, cutting his position by 12.60%. Eos insider selling and one-year low
- Negative Sentiment: Insider Nathan Kroeker also sold 110,417 shares for roughly $371,001, reducing his holdings by 11.06%. The Puri and Kroeker transactions were conducted under pre-arranged Rule 10b5-1 plans to cover tax withholding on vested equity awards, which reduces—but does not eliminate—their negative signaling effect.
Institutional Inflows and Outflows
A number of hedge funds have recently added to or reduced their stakes in the stock. Millennium Management LLC grew its stake in Eos Energy Enterprises by 55.1% during the first quarter. Millennium Management LLC now owns 2,522,273 shares of the company’s stock valued at $9,534,000 after acquiring an additional 896,471 shares in the last quarter. Goldman Sachs Group Inc. increased its position in shares of Eos Energy Enterprises by 36.8% in the first quarter. Goldman Sachs Group Inc. now owns 3,900,513 shares of the company’s stock worth $14,744,000 after purchasing an additional 1,050,128 shares during the last quarter. Envestnet Asset Management Inc. purchased a new stake in Eos Energy Enterprises in the second quarter valued at approximately $76,000. JPMorgan Chase & Co. purchased a new stake in Eos Energy Enterprises in the second quarter valued at approximately $5,958,000. Finally, Prudential Financial Inc. bought a new stake in Eos Energy Enterprises during the second quarter valued at approximately $144,000. Hedge funds and other institutional investors own 54.87% of the company’s stock.
Analyst Ratings Changes
Several research firms recently weighed in on EOSE. Needham & Company LLC initiated coverage on shares of Eos Energy Enterprises in a research report on Friday, May 22nd. They set a “buy” rating and a $11.00 price target for the company. Zacks Research upgraded shares of Eos Energy Enterprises from a “strong sell” rating to a “hold” rating in a research note on Tuesday, April 28th. TD Cowen boosted 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. Weiss Ratings reissued a “sell (d-)” rating on shares of Eos Energy Enterprises in a research report on Friday, July 17th. Finally, Truist Financial started coverage on shares of Eos Energy Enterprises in a research note on Monday, July 13th. They set a “buy” rating and a $7.00 price target for the company. One research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, seven have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $9.17.
Check Out Our Latest Stock Analysis on EOSE
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.
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