Eos Energy Enterprises (NASDAQ:EOSE) Shares Gap Down – What’s Next?

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.

Wall Street Analysts Forecast Growth

EOSE has been the topic of several analyst reports. Zacks Research downgraded Eos Energy Enterprises from a “hold” rating to a “strong sell” rating in a report on Wednesday, October 29th. Weiss Ratings restated a “sell (d-)” rating on shares of Eos Energy Enterprises in a research report on Wednesday, October 8th. Guggenheim lifted their price target on Eos Energy Enterprises from $10.00 to $20.00 and gave the stock a “buy” rating in a research note on Wednesday, October 22nd. Jefferies Financial Group assumed coverage on Eos Energy Enterprises in a research report on Friday, September 5th. They issued a “hold” rating and a $6.50 price objective for the company. Finally, Wall Street Zen lowered Eos Energy Enterprises from a “hold” rating to a “sell” rating in a research note on Saturday, November 8th. Two analysts have rated the stock with a Buy rating, six have issued a Hold rating and two have issued a Sell rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $11.93.

Eos Energy Enterprises Trading Up 0.6%

The business has a fifty day moving average of $13.43 and a 200-day moving average of $8.39. The company has a market cap of $3.91 billion, a PE ratio of -1.63 and a beta of 2.32.

Eos Energy Enterprises (NASDAQ:EOSE) last posted its earnings results on Wednesday, November 5th. The company reported ($2.77) earnings per share (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 analysts’ expectations of $39.55 million. Eos Energy Enterprises has set its FY 2025 guidance at EPS. As a group, research analysts predict that Eos Energy Enterprises, Inc. will post -2.54 EPS for the current year.

Insider Buying and Selling at Eos Energy Enterprises

In other news, Director Marian Walters sold 50,000 shares of the stock in a transaction that occurred 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 completion of the transaction, the director owned 133,794 shares of the company’s stock, valued at approximately $1,056,972.60. This represents a 27.20% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Sumeet Puri sold 40,501 shares of the company’s stock in a transaction dated Monday, September 8th. The stock was sold at an average price of $7.11, for a total transaction of $287,962.11. Following the completion of the sale, the chief accounting officer directly owned 164,290 shares in the company, valued at $1,168,101.90. This represents a 19.78% 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

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

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.