Eos Energy Enterprises (NASDAQ:EOSE) Shares Gap Down – Here’s Why

Eos Energy Enterprises, Inc. (NASDAQ:EOSE) gapped down before the market opened on Wednesday . The stock had previously closed at $13.48, but opened at $12.53. Eos Energy Enterprises shares last traded at $13.4950, with a volume of 9,656,198 shares trading hands.

Analyst Upgrades and Downgrades

Several analysts have issued reports on EOSE shares. Weiss Ratings restated a “sell (d-)” rating on shares of Eos Energy Enterprises in a research note on Wednesday, October 8th. TD Cowen increased their target price on shares of Eos Energy Enterprises from $5.50 to $6.00 and gave the company a “hold” rating in a research note on Friday, August 1st. Stifel Nicolaus boosted their price objective on Eos Energy Enterprises from $10.00 to $22.00 and gave the stock a “buy” rating in a report on Wednesday, October 15th. Zacks Research cut Eos Energy Enterprises from a “hold” rating to a “strong sell” rating in a research note on Wednesday, October 29th. Finally, B. Riley lifted their price objective on Eos Energy Enterprises from $8.00 to $12.00 and gave the company a “neutral” rating in a research report on Tuesday, November 11th. Two equities research analysts have rated the stock with a Buy rating, six have given a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $11.93.

Eos Energy Enterprises Stock Performance

The stock has a market cap of $3.55 billion, a price-to-earnings ratio of -1.47 and a beta of 2.32. The firm’s 50-day simple moving average is $13.67 and its two-hundred day simple moving average is $8.45.

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

Insiders Place Their Bets

In other news, CAO Sumeet Puri sold 40,501 shares of the firm’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 completion of the sale, the chief accounting officer directly owned 164,290 shares of the company’s stock, valued at $1,168,101.90. This trade represents a 19.78% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director Marian Walters sold 50,000 shares of the stock in a transaction dated Wednesday, September 3rd. The shares were sold at an average price of $7.90, for a total transaction of $395,000.00. Following the completion of the transaction, the director directly owned 133,794 shares in the company, valued at approximately $1,056,972.60. This represents a 27.20% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 3.30% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Eos Energy Enterprises

Institutional investors and hedge funds have recently bought and sold shares of the company. Advisory Services Network LLC bought a new stake in shares of Eos Energy Enterprises during the third quarter worth $106,000. Caxton Associates LLP acquired a new stake in Eos Energy Enterprises during the third quarter worth approximately $3,521,000. Williams Jones Wealth Management LLC. boosted its stake in Eos Energy Enterprises by 7.8% during the third quarter. Williams Jones Wealth Management LLC. now owns 82,500 shares of the company’s stock worth $940,000 after acquiring an additional 6,000 shares in the last quarter. XTX Topco Ltd increased its position in Eos Energy Enterprises by 302.6% in the 3rd quarter. XTX Topco Ltd now owns 49,444 shares of the company’s stock valued at $563,000 after buying an additional 37,164 shares in the last quarter. Finally, Voleon Capital Management LP bought a new position in shares of Eos Energy Enterprises in the 3rd quarter worth $142,000. Institutional investors own 54.87% of the company’s stock.

Eos Energy Enterprises Company Profile

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.