Yorkville Advisors LLC recently announced the acquisition of new stake in Eos Energy Enterprises Inc. (NASDAQ:EOSE). The institutional investor has increased its shareholding in the Industrials company by 1,957.28% to 9.57 million shares with purchase of 9.1 million shares. This fresh investment now brings its stake to 7.14% valued currently at $31.1 million. In addition, Legal & General Investment Manage raised its holdings by 8.21 million to 8.21 million shares. And BlackRock Fund Advisors has lifted its position by 553.10% or 6.11 million shares – to 7.22 million shares.
With over 10.24 million Eos Energy Enterprises Inc. (EOSE) shares trading Monday and a closing price of $2.28 on the day, the dollar volume was approximately $23.35 million. The shares have shown a positive half year performance of 1.79% and its price on 09/18/23 lost nearly -11.97%. Currently, there are 133.99M common shares owned by the public and among those 126.34M shares have been available to trade.
An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 7 analysts who have offered their price forecasts for EOSE have a consensus price objective of $10.25. The analysts have set the share’s price value over the next 12 months at a high of $17.00 and a low of $4.50. The average price target is 75.64% above its recent price level and an upside to the estimated low will see the stock gain 49.33% over that period. But an upside of 86.59% will see the stock hit the forecast high price target while median target price for the stock is $10.00.
Insiders at the company have transacted a total of 25 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 17 of these insider trades were purchases, accounting for 955,546 shares. Insider sales of the common stock occurred on 8 occasions, with total insider shares sold totaling 1,181,080 shares.
The top 3 mutual fund holders in Eos Energy Enterprises Inc. are L&G Battery Value-Chain UCITS ETF, Vanguard Total Stock Market ETF, and Global X Battery Tech & Lithium E. L&G Battery Value-Chain UCITS ETF owns 7.99 million shares of the company’s stock, all valued at over $25.97 million. Global X Battery Tech & Lithium E now owns shares totaling to 2.54% of the shares outstanding.
Shares of Eos Energy Enterprises Inc. (NASDAQ: EOSE) opened at $2.58, down -$0.01 from a prior closing price of $2.59. However, the script later moved the day high at 2.5800, down -11.97%. The company’s stock has a 5-day price change of -16.79% and -31.74% over the past three months. EOSE shares are trading 54.05% year to date (YTD), with the 12-month market performance down to -8.06% lower. It has a 12-month low price of $0.95 and touched a high of $5.66 over the same period. EOSE has an average intraday trading volume of 10.38 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by -25.95%, -25.67%, and -1.22% respectively.
Institutional ownership of Eos Energy Enterprises Inc. (NASDAQ: EOSE) shares accounts for 33.70% of the company’s 133.99M shares outstanding. Mutual fund holders own 24.82%, while other institutional holders and individual stakeholders account for 33.22% and 12.80% respectively.
It has a market capitalization of $306.71M and a beta (3y monthly) value of 2.67. The earnings-per-share (ttm) stands at -$3.81. Price movements for the stock have been influenced by the stock’s volatility, which stands at 10.32% over the week and 16.47% over the month.
Analysts forecast that Eos Energy Enterprises Inc. (EOSE) will achieve an EPS of -$0.31 for the current quarter, -$0.31 for the next quarter and -$0.74 for 2024. The lowest estimate earnings-per-share for the quarter is -$0.38 while analysts give the company a high EPS estimate of -$0.24. Comparatively, EPS for the current quarter was -$1.12 a year ago. Earnings per share for the fiscal year are expected to decrease by -56.00%, and 68.10% over the next financial year.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 7 brokerage firm advisors rate Eos Energy Enterprises Inc. (EOSE) as a “Moderate Buy” at a consensus score of 2.50. Specifically, 5 Wall Street analysts polled rate the stock as a buy, while 2 of the 7 advise that investors “hold,” and 0 rated it as a “Sell.”