Key Points
- Insider Nathan Kroeker sold 110,417 Eos Energy shares for approximately $371,000, reducing his holdings by 11.06% to 887,527 shares. The transaction occurred under a Rule 10b5-1 plan to cover tax withholding related to vested equity awards.
- EOSE opened at $3.37 and has fallen sharply from its one-year high of $19.86; analysts have a consensus “Hold” rating and an average price target of $9.17.
- Eos recently exceeded quarterly expectations, reporting $0.12 in EPS and $56.96 million in revenue versus consensus estimates of a $0.22 loss and $54.32 million in revenue. Institutional investors own approximately 54.87% of the company.
Eos Energy Enterprises, Inc. (NASDAQ:EOSE - Get Free Report) CAO Sumeet Puri sold 29,167 shares of Eos Energy Enterprises stock in a transaction on Tuesday, July 28th. The stock was sold at an average price of $3.36, for a total transaction of $98,001.12. Following the sale, the chief accounting officer owned 202,279 shares of the company's stock, valued at $679,657.44. The trade was a 12.60% decrease in their ownership of the stock. The transaction 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.
Sumeet Puri also recently made the following trade(s):
- On Tuesday, June 30th, Sumeet Puri sold 8,823 shares of Eos Energy Enterprises stock. The shares were sold at an average price of $5.86, for a total value of $51,702.78.
Eos Energy Enterprises Price Performance
NASDAQ EOSE opened at $3.37 on Wednesday. The company has a market cap of $1.14 billion, a price-to-earnings ratio of -0.50 and a beta of 2.68. The stock's fifty day moving average price is $6.12 and its 200 day moving average price is $8.14. Eos Energy Enterprises, Inc. has a 1 year low of $3.21 and a 1 year high of $19.86.
Eos Energy Enterprises (NASDAQ:EOSE - Get Free Report) last issued its quarterly earnings results on Wednesday, May 13th. The company reported $0.12 EPS for the quarter, topping analysts' consensus estimates of ($0.22) by $0.34. The firm had revenue of $56.96 million for the quarter, compared to analyst estimates of $54.32 million. Research analysts expect that Eos Energy Enterprises, Inc. will post -0.32 earnings per share for the current year.
Key Stories Impacting Eos Energy Enterprises
Here are the key news stories impacting Eos Energy Enterprises this week:
- Positive Sentiment: Eos battery technology is expected to be used in Bimergen Energy’s 480 MWh Texas battery-storage portfolio, including the 100 MW/400 MWh Redbird project. The projects’ closure could provide Eos with potential future equipment demand and industry validation, although the announcement did not disclose an Eos contract value or revenue timing. Bimergen Energy battery storage project sales
- Neutral Sentiment: Eos is expected to report quarterly results on Wednesday. Investors will be watching whether the company can sustain its recent earnings and revenue outperformance, when it previously reported $0.12 in EPS versus expectations for a $0.22 loss and revenue of $56.96 million versus a $54.32 million consensus estimate. Eos Energy Enterprises expected earnings
- Negative Sentiment: CEO Joe Mastrangelo sold 159,154 shares for approximately $574,546, reducing his stake by 7.55%. Chief Accounting Officer Sumeet Puri also sold 29,167 shares, cutting his holdings by 12.60%. These transactions add to investor concerns about insider confidence, despite Puri’s sale being made under a pre-arranged Rule 10b5-1 plan to cover tax obligations. Eos insider selling and new one-year low
- Negative Sentiment: Insider Nathan Kroeker sold 110,417 shares for about $371,001, reducing his position by 11.06%. The sale was also executed under a 10b5-1 plan and related to tax withholding, which somewhat reduces its signaling value but still increases near-term selling pressure.
Wall Street Analyst Weigh In
A number of equities research analysts recently commented on the company. Needham & Company LLC began coverage on Eos Energy Enterprises in a report on Friday, May 22nd. They set a "buy" rating and a $11.00 target price for the company. TD Cowen increased their price target on shares of Eos Energy Enterprises from $7.00 to $8.00 and gave the stock a "hold" rating in a report on Thursday, May 14th. Wall Street Zen lowered shares of Eos Energy Enterprises from a "hold" rating to a "sell" rating in a research report on Saturday, July 4th. Stifel Nicolaus decreased their price objective on shares of Eos Energy Enterprises from $12.00 to $10.00 and set a "buy" rating for the company in a research note on Monday, July 13th. Finally, JPMorgan Chase & Co. dropped their price objective on shares of Eos Energy Enterprises from $9.00 to $6.00 and set a "neutral" rating on the stock in a report on Thursday, April 16th. One investment 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 company's stock. According to data from MarketBeat, the company has an average rating of "Hold" and a consensus price target of $9.17.
Check Out Our Latest Stock Report on EOSE
Hedge Funds Weigh In On Eos Energy Enterprises
A number of institutional investors have recently modified their holdings of the stock. Rubric Capital Management LP acquired a new position in shares of Eos Energy Enterprises in the 3rd quarter valued at about $117,317,000. Vanguard Group Inc. grew its holdings in Eos Energy Enterprises by 19.8% during the fourth quarter. Vanguard Group Inc. now owns 18,616,874 shares of the company's stock worth $213,349,000 after acquiring an additional 3,080,012 shares during the period. Engineers Gate Manager LP acquired a new stake in Eos Energy Enterprises during the second quarter worth about $11,840,000. Vaughan Nelson Investment Management L.P. acquired a new stake in Eos Energy Enterprises during the fourth quarter worth about $22,330,000. Finally, Renaissance Technologies LLC purchased a new position in Eos Energy Enterprises during the first quarter valued at approximately $9,152,000. Hedge funds and other institutional investors own 54.87% of the company's stock.
Eos Energy Enterprises Company Profile
(
Get Free Report)
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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