Key Points
- Eos Energy insider Michelle Buczkowski sold 50,000 shares for $100,000 at an average price of $2.00. The transaction was conducted under a pre-arranged Rule 10b5-1 plan to cover tax withholding tied to vested equity awards.
- Eos shares opened at $1.98, with the stock trading near the lower end of its 52-week range of $1.59 to $19.86. The company recently reported a quarterly loss of $1.20 per share, substantially below the $0.19 consensus estimate.
- Analyst sentiment remains mixed, resulting in a consensus “Hold” rating and a $7.69 target price. Institutional investors and hedge funds own approximately 54.87% of the company.
Eos Energy Enterprises, Inc. (NASDAQ:EOSE - Get Free Report) insider Michelle Buczkowski sold 50,000 shares of the firm's stock in a transaction dated Thursday, October 29th. The shares were sold at an average price of $2.00, for a total transaction of $100,000.00. Following the completion of the sale, the insider owned 111,827 shares of the company's stock, valued at approximately $223,654. The trade was a 30.90% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 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 Up 1.5%
Shares of EOSE opened at $1.98 on Friday. Eos Energy Enterprises, Inc. has a twelve month low of $1.59 and a twelve month high of $19.86. The stock's 50 day moving average is $3.06 and its two-hundred day moving average is $6.43. The firm has a market capitalization of $721.06 million, a PE ratio of -0.29 and a beta of 2.88.
Eos Energy Enterprises (NASDAQ:EOSE - Get Free Report) last released its earnings results on Wednesday, August 5th. The company reported ($1.20) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.19) by ($1.01). The business had revenue of $68.78 million during the quarter, compared to the consensus estimate of $68.32 million. During the same quarter last year, the firm earned ($1.05) EPS. On average, sell-side analysts predict that Eos Energy Enterprises, Inc. will post -1.28 EPS for the current year.
Wall Street Analysts Forecast Growth
A number of research analysts recently weighed in on EOSE shares. B. Riley Financial dropped their price objective on Eos Energy Enterprises from $8.00 to $5.00 and set a "neutral" rating on the stock in a report on Friday, August 14th. Truist Financial began coverage on Eos Energy Enterprises in a research report on Monday, July 13th. They issued a "buy" rating and a $7.00 price objective for the company. Stifel Nicolaus reduced their target price on Eos Energy Enterprises from $10.00 to $9.00 and set a "buy" rating for the company in a report on Thursday, August 6th. Weiss Ratings restated a "sell (d-)" rating on shares of Eos Energy Enterprises in a research report on Thursday, October 15th. Finally, Roth Capital boosted their target price on shares of Eos Energy Enterprises from $4.00 to $4.50 and gave the stock a "neutral" rating in a research report on Thursday, September 10th. One research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, Eos Energy Enterprises has a consensus rating of "Hold" and a consensus target price of $7.69.
Get Our Latest Report on Eos Energy Enterprises
Institutional Inflows and Outflows
Several institutional investors and hedge funds have recently added to or reduced their stakes in EOSE. State of Wyoming lifted its position in shares of Eos Energy Enterprises by 53.8% during the 3rd quarter. State of Wyoming now owns 40,195 shares of the company's stock valued at $123,000 after acquiring an additional 14,058 shares during the period. Apollon Wealth Management LLC purchased a new stake in shares of Eos Energy Enterprises during the 3rd quarter worth approximately $61,000. Sterling Capital Management LLC boosted its stake in shares of Eos Energy Enterprises by 861.5% during the 3rd quarter. Sterling Capital Management LLC now owns 11,634 shares of the company's stock worth $36,000 after acquiring an additional 10,424 shares in the last quarter. Inspire Investing LLC grew its holdings in shares of Eos Energy Enterprises by 73.7% in the 3rd quarter. Inspire Investing LLC now owns 205,065 shares of the company's stock worth $629,000 after acquiring an additional 87,012 shares during the period. Finally, Net Worth Advisory Group grew its holdings in shares of Eos Energy Enterprises by 232.3% in the 3rd quarter. Net Worth Advisory Group now owns 49,286 shares of the company's stock worth $155,000 after acquiring an additional 34,453 shares during the period. 54.87% of the stock is currently owned by institutional investors and hedge funds.
Eos Energy Enterprises Company Profile
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Get Free Report)
Eos Energy Enterprises, Inc develops and manufactures long-duration energy storage systems designed to help utilities, renewable energy developers, and commercial and industrial customers store electricity for use when demand is high or renewable generation is unavailable. The company's technology is based on aqueous zinc battery chemistry, which it markets as a non-lithium alternative for stationary energy storage applications.
Eos' product portfolio includes the Eos Z3 battery system and related generations of its zinc-based storage technology.
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