Eos Energy Enterprises (NASDAQ:EOSE) Sees Large Volume Increase - Time to Buy?
Eos Energy Enterprises (NASDAQ:EOSE) experienced a significant increase in trading volume, with shares rising to $14.0530 from a previous close of $12.78. Analysts have mixed ratings, with Guggenheim and Stifel Nicolaus giving 'buy' ratings and higher price targets, while Zacks Research issued a 'strong sell' rating. The company reported a Q3 loss of $2.77 per share, missing estimates. Insider trading activity includes sales by CAO Sumeet Puri and Director Marian Walters. Institutional investors own 54.87% of the stock.
Eos Energy Enterprises, Inc. (NASDAQ:EOSE - Get Free Report) shares saw unusually-strong trading volume on Thursday . Approximately 14,905,575 shares traded hands during mid-day trading, an increase of 7% from the previous session's volume of 13,932,521 shares.The stock last traded at $14.0530 and had previously closed at $12.78.
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Analysts Set New Price Targets
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Several equities research analysts recently weighed in on the company. TD Cowen increased their price target on Eos Energy Enterprises from $5.50 to $6.00 and gave the stock a "hold" rating in a report on Friday, August 1st. Guggenheim lifted their price objective on Eos Energy Enterprises from $10.00 to $20.00 and gave the company a "buy" rating in a research report on Wednesday, October 22nd. Zacks Research cut Eos Energy Enterprises from a "hold" rating to a "strong sell" rating in a report on Wednesday, October 29th. Roth Capital set a $12.00 price target on Eos Energy Enterprises and gave the stock a "neutral" rating in a research note on Wednesday, October 22nd. Finally, Stifel Nicolaus boosted their target price on Eos Energy Enterprises from $10.00 to $22.00 and gave the stock a "buy" rating in a report on Wednesday, October 15th. Two analysts have rated the stock with a Buy rating, six have given a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and an average price target of $11.93.
Read Our Latest Stock Analysis on EOSE
Eos Energy Enterprises Price Performance
The business's 50-day moving average price is $13.55 and its two-hundred day moving average price is $8.42. The firm has a market cap of $3.68 billion, a price-to-earnings ratio of -1.53 and a beta of 2.32.
Eos Energy Enterprises (NASDAQ:EOSE - Get Free Report) last issued its earnings results on Wednesday, November 5th. The company reported ($2.77) EPS for the quarter, missing the consensus estimate of ($0.31) by ($2.46). The firm had revenue of $30.51 million during the quarter, compared to the consensus estimate of $39.55 million. Eos Energy Enterprises has set its FY 2025 guidance at EPS. Equities analysts predict that Eos Energy Enterprises, Inc. will post -2.54 earnings per share for the current fiscal year.
Insider Buying and Selling
In other news, CAO Sumeet Puri sold 40,501 shares of Eos Energy Enterprises stock in a transaction on Monday, September 8th. The stock was sold at an average price of $7.11, for a total transaction of $287,962.11. Following the transaction, the chief accounting officer directly owned 164,290 shares in the company, valued at approximately $1,168,101.90. This trade represents a 19.78% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Marian Walters sold 50,000 shares of the business's stock in a transaction dated Wednesday, September 3rd. The stock was sold at an average price of $7.90, for a total transaction of $395,000.00. Following the completion of the sale, the director owned 133,794 shares in the company, valued at approximately $1,056,972.60. This trade 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 corporate insiders.
Hedge Funds Weigh In On Eos Energy Enterprises
A number of institutional investors have recently bought and sold shares of EOSE. Chung Wu Investment Group LLC purchased a new stake in Eos Energy Enterprises in the 3rd quarter worth about $30,000. Farther Finance Advisors LLC lifted its position in Eos Energy Enterprises by 33.0% in the 3rd quarter. Farther Finance Advisors LLC now owns 3,325 shares of the company's stock worth $38,000 after buying an additional 825 shares in the last quarter. Elevatus Welath Management acquired a new stake in shares of Eos Energy Enterprises during the 1st quarter valued at $39,000. Amalgamated Bank acquired a new position in shares of Eos Energy Enterprises in the second quarter worth $39,000. Finally, Skandinaviska Enskilda Banken AB publ bought a new stake in shares of Eos Energy Enterprises in the 2nd quarter valued at approximately $39,000. Hedge funds and other institutional investors own 54.87% of the company's stock.
About Eos Energy Enterprises
(Get Free Report)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.
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