Eos Energy Enterprises (NASDAQ:EOSE) Stock Price Down 9.2% – What’s Next?

Eos Energy Enterprises, Inc. (NASDAQ:EOSE)’s stock price traded down 9.2% during trading on Friday . The company traded as low as $11.58 and last traded at $11.6970. 9,830,153 shares changed hands during mid-day trading, a decline of 30% from the average session volume of 14,059,018 shares. The stock had previously closed at $12.88.

Analyst Ratings Changes

A number of research analysts have weighed in on the stock. Stifel Nicolaus boosted their target price on shares of Eos Energy Enterprises from $10.00 to $22.00 and gave the stock a “buy” rating in a research report on Wednesday, October 15th. TD Cowen boosted their price objective on Eos Energy Enterprises from $5.50 to $6.00 and gave the stock a “hold” rating in a research report on Friday, August 1st. B. Riley increased their target price on Eos Energy Enterprises from $8.00 to $12.00 and gave the company a “neutral” rating in a research note on Tuesday, November 11th. Wall Street Zen downgraded Eos Energy Enterprises from a “hold” rating to a “sell” rating in a research report on Saturday, November 8th. Finally, Roth Capital set a $12.00 price target on Eos Energy Enterprises and gave the stock a “neutral” rating in a report on Wednesday, October 22nd. Two investment analysts have rated the stock with a Buy rating, six have given a Hold rating and two have given a Sell rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $11.93.

Eos Energy Enterprises Stock Performance

The company has a 50-day moving average of $13.67 and a 200 day moving average of $8.45. The firm has a market cap of $3.55 billion, a P/E ratio of -1.47 and a beta of 2.32.

Eos Energy Enterprises (NASDAQ:EOSE) last announced its quarterly earnings results on Wednesday, November 5th. The company reported ($2.77) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.31) by ($2.46). The business had revenue of $30.51 million during the quarter, compared to analysts’ expectations of $39.55 million. Eos Energy Enterprises has set its FY 2025 guidance at EPS. Sell-side analysts anticipate that Eos Energy Enterprises, Inc. will post -2.54 EPS for the current fiscal year.

Insider Activity

In other news, CAO Sumeet Puri sold 40,501 shares of the business’s stock in a transaction that occurred on Monday, September 8th. The stock was sold at an average price of $7.11, for a total value of $287,962.11. Following the transaction, the chief accounting officer directly owned 164,290 shares of the company’s stock, valued at $1,168,101.90. The trade was a 19.78% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Marian Walters sold 50,000 shares of the stock in a transaction on Wednesday, September 3rd. The stock was sold at an average price of $7.90, for a total value of $395,000.00. Following the sale, the director owned 133,794 shares in the company, valued at $1,056,972.60. The trade was a 27.20% decrease in their position. The disclosure for this sale is available in the SEC filing. 3.30% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Eos Energy Enterprises

A number of large investors have recently modified their holdings of EOSE. Rubric Capital Management LP acquired a new position in Eos Energy Enterprises during the 3rd quarter worth $117,317,000. Driehaus Capital Management LLC acquired a new position in Eos Energy Enterprises in the first quarter valued at about $13,456,000. Geode Capital Management LLC increased its stake in Eos Energy Enterprises by 101.4% during the 2nd quarter. Geode Capital Management LLC now owns 5,407,930 shares of the company’s stock worth $27,692,000 after purchasing an additional 2,722,495 shares in the last quarter. Engineers Gate Manager LP acquired a new stake in shares of Eos Energy Enterprises during the second quarter worth $11,840,000. Finally, Vanguard Group Inc. lifted its position in Eos Energy Enterprises by 16.7% in the 3rd quarter. Vanguard Group Inc. now owns 15,536,862 shares of the company’s stock valued at $176,965,000 after acquiring an additional 2,218,075 shares in the last quarter. 54.87% of the stock is currently owned by institutional investors and hedge funds.

About Eos Energy Enterprises

Eos Energy Enterprises, Inc designs, manufactures, and markets zinc-based energy storage solutions for utility-scale, microgrid, and commercial and industrial (C&I) applications in the United States. The company offers Znyth technology battery energy storage system (BESS), which provides the operating flexibility to manage increased grid complexity and price volatility.