Eos Energy Enterprises (NASDAQ:EOSE) Shares Up 9.1% – Here’s Why

Eos Energy Enterprises, Inc. (NASDAQ:EOSE)’s share price was up 9.1% during mid-day trading on Friday . The stock traded as high as $15.30 and last traded at $15.2920. Approximately 16,863,769 shares were traded during trading, an increase of 12% from the average daily volume of 15,096,474 shares. The stock had previously closed at $14.02.

Analysts Set New Price Targets

A number of research firms have recently weighed in on EOSE. Weiss Ratings restated a “sell (d-)” rating on shares of Eos Energy Enterprises in a report on Wednesday, October 8th. Wall Street Zen lowered Eos Energy Enterprises from a “hold” rating to a “sell” rating in a report on Saturday, November 8th. Stifel Nicolaus raised their target price on shares of Eos Energy Enterprises from $10.00 to $22.00 and gave the stock a “buy” rating in a report on Wednesday, October 15th. Roth Capital set a $12.00 price target on Eos Energy Enterprises and gave the company a “neutral” rating in a research report on Wednesday, October 22nd. Finally, JPMorgan Chase & Co. assumed coverage on shares of Eos Energy Enterprises in a research report on Wednesday, December 17th. They issued a “neutral” rating and a $16.00 price objective for the company. Two equities research analysts have rated the stock with a Buy rating, seven have given a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $12.44.

Eos Energy Enterprises Stock Performance

The stock’s 50 day simple moving average is $13.97 and its two-hundred day simple moving average is $10.56. The firm has a market capitalization of $4.40 billion, a PE ratio of -1.83 and a beta of 2.11.

Eos Energy Enterprises (NASDAQ:EOSE) last issued 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 business had revenue of $30.51 million during the quarter, compared to the consensus estimate of $39.55 million. Equities research analysts expect that Eos Energy Enterprises, Inc. will post -2.54 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Director Russell Monoki Stidolph sold 500,000 shares of the stock in a transaction that occurred on Friday, December 5th. The stock was sold at an average price of $14.99, for a total value of $7,495,000.00. Following the completion of the transaction, the director directly owned 2,153,272 shares in the company, valued at approximately $32,277,547.28. This represents a 18.84% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Marian Walters sold 50,000 shares of the stock in a transaction on Thursday, December 4th. The stock was sold at an average price of $15.81, for a total value of $790,500.00. Following the transaction, the director owned 135,334 shares of the company’s stock, valued at approximately $2,139,630.54. This represents a 26.98% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 816,134 shares of company stock worth $12,262,335 over the last quarter. 3.30% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Eos Energy Enterprises

Hedge funds and other institutional investors have recently bought and sold shares of the company. Farther Finance Advisors LLC boosted 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 valued at $38,000 after buying an additional 825 shares during the period. GAMMA Investing LLC boosted its holdings in Eos Energy Enterprises by 46.4% in the fourth quarter. GAMMA Investing LLC now owns 3,270 shares of the company’s stock valued at $37,000 after purchasing an additional 1,036 shares in the last quarter. Diversify Advisory Services LLC raised its stake in Eos Energy Enterprises by 6.5% during the 3rd quarter. Diversify Advisory Services LLC now owns 17,124 shares of the company’s stock worth $195,000 after acquiring an additional 1,049 shares in the last quarter. Investment Advisory Group LLC grew its stake in Eos Energy Enterprises by 7.0% during the 3rd quarter. Investment Advisory Group LLC now owns 23,000 shares of the company’s stock worth $262,000 after buying an additional 1,500 shares during the last quarter. Finally, Copia Wealth Management grew its position in shares of Eos Energy Enterprises by 54.7% during the third quarter. Copia Wealth Management now owns 4,796 shares of the company’s stock worth $55,000 after acquiring an additional 1,696 shares during the last quarter. 54.87% of the stock is currently owned by hedge funds and other institutional investors.

About Eos Energy Enterprises

Eos Energy Enterprises specializes in the development and deployment of scalable, long-duration energy storage systems designed to support the integration of renewable power and enhance grid reliability. The company’s core technology centers on its proprietary zinc hybrid cathode (Znyth™) battery platform, which aims to deliver safe, low-cost, and durable performance for utility, commercial and industrial, and microgrid applications.

The company’s flagship product, the Aurora™ energy storage system, combines its Znyth™ cells with modular power conversion and controls to offer flexible capacity ranging from one to three hours of discharge duration.