Key Points
- Director Alexander Dimitrief bought 25,000 shares at an average price of $1.86, spending $46,500 and increasing his direct ownership by 9.28% to 294,296 shares.
- Eos shares rose 5.5% to $1.91 in Friday trading, but remained well below their 50-day and 200-day moving averages of $2.72 and $5.61, respectively.
- The company reported quarterly EPS of a $0.17 loss, beating estimates of a $0.24 loss, and revenue of $82.73 million, above forecasts. Analysts’ consensus rating was “Hold,” with a $6.69 average price target.
Eos Energy Enterprises, Inc. (NASDAQ:EOSE - Get Free Report) Director Alexander Dimitrief purchased 25,000 shares of the stock in a transaction that occurred on Thursday, November 12th. The stock was acquired at an average cost of $1.86 per share, with a total value of $46,500.00. Following the completion of the acquisition, the director directly owned 294,296 shares of the company's stock, valued at $547,390.56. This represents a 9.28% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.
Eos Energy Enterprises Stock Up 5.5%
Eos Energy Enterprises stock traded up $0.10 during mid-day trading on Friday, hitting $1.91. The company had a trading volume of 16,282,406 shares, compared to its average volume of 25,821,832. The stock has a market cap of $699.75 million, a price-to-earnings ratio of -0.91 and a beta of 3.17. Eos Energy Enterprises, Inc. has a 1 year low of $1.59 and a 1 year high of $18.74. The business has a fifty day moving average of $2.72 and a 200 day moving average of $5.61.
Eos Energy Enterprises (NASDAQ:EOSE - Get Free Report) last issued its quarterly earnings data on Thursday, November 5th. The company reported ($0.17) earnings per share for the quarter, topping the consensus estimate of ($0.24) by $0.07. The business had revenue of $82.73 million during the quarter, compared to the consensus estimate of $81.60 million. Eos Energy Enterprises had a net margin of 89.23% and a negative return on equity of 20.68%. Equities analysts anticipate that Eos Energy Enterprises, Inc. will post -1.26 earnings per share for the current year.
Institutional Inflows and Outflows
Several institutional investors have recently added to or reduced their stakes in EOSE. Jump Financial LLC lifted its stake in Eos Energy Enterprises by 843.0% in the third quarter. Jump Financial LLC now owns 830,863 shares of the company's stock valued at $2,547,000 after buying an additional 742,759 shares during the last quarter. Headlands Technologies LLC acquired a new stake in shares of Eos Energy Enterprises in the third quarter valued at approximately $368,000. Xcelsior Advisor Partners LLC purchased a new position in shares of Eos Energy Enterprises during the third quarter worth approximately $36,000. First Trust Advisors LP grew its position in shares of Eos Energy Enterprises by 43.8% during the third quarter. First Trust Advisors LP now owns 1,347,417 shares of the company's stock worth $4,130,000 after acquiring an additional 410,454 shares during the last quarter. Finally, Advisors Asset Management Inc. purchased a new position in shares of Eos Energy Enterprises during the third quarter worth approximately $126,000. Institutional investors and hedge funds own 54.87% of the company's stock.
Wall Street Analysts Forecast Growth
EOSE has been the topic of a number of recent analyst reports. Wall Street Zen downgraded shares of Eos Energy Enterprises from a "sell" rating to a "strong sell" rating in a research report on Saturday, August 8th. Stifel Nicolaus reduced their price target on shares of Eos Energy Enterprises from $9.00 to $4.00 and set a "buy" rating for the company in a research report on Monday, November 9th. Needham & Company LLC decreased their price objective on shares of Eos Energy Enterprises from $10.00 to $6.00 and set a "buy" rating for the company in a research note on Monday, October 19th. Weiss Ratings upgraded shares of Eos Energy Enterprises from a "sell (d-)" rating to a "hold (c-)" rating in a research note on Monday, November 9th. Finally, Roth Capital raised their price objective on Eos Energy Enterprises from $4.00 to $4.50 and gave the stock a "neutral" rating in a report on Thursday, September 10th. One research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and seven have issued a Hold rating to the company's stock. According to MarketBeat.com, Eos Energy Enterprises currently has a consensus rating of "Hold" and a consensus price target of $6.69.
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Eos Energy Enterprises Company Profile
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Eos Energy Enterprises, Inc. develops and manufactures zinc-based battery energy storage systems. Its aqueous zinc battery technology is designed for stationary, long-duration storage, providing an alternative to lithium-ion systems for applications that require electricity to be stored and delivered over extended periods. The company's products include the Eos Z3 battery system, which is intended for grid-scale and commercial and industrial uses, such as supporting renewable energy integration and helping manage electricity supply and demand.
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