Point72 Asset Management LP has recently announced that it has increased stake in Eos Energy Enterprises Inc. (NASDAQ:EOSE) by 73.33%. After grabbing 5.54 million shares, the institutional investor is now in possession of 2.34 million shares of the Industrials Company. The new investment brought the stake of investor firm to 6.70% having worth around $12.12 million. Moreover, The Vanguard Group, Inc. increased its share by 0.25 million to have a control over 2.54 million shares. And Lynwood Capital Management, Inc. raised its holdings to 1.12 million shares by acquiring 1.12 million shares or 1.36% of the stake.
Eos Energy Enterprises Inc. (EOSE) concluded trading on 03/16/23 at a closing price of $2.11, with 3.57 million shares of worth about $7.53 million changed hands on the day. Half year performance of the stock remained negative as price took a plunge of -15.60% during that period and on Thursday the price saw a gain of about 17.22%. Currently the company’s common shares owned by public are about 76.64M shares, out of which, 68.79M shares are available for trading.
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A deeper look into what the analysts at Wall Street are thinking about the price target of this stock provides us with the following: 6 analysts are covering the EOSE stock and their offered price forecasts bring an average price target of $4.58. Over the next 12 months, analysts forecasted that the stock’s price could jump as high as $11.00 and could fall to a lowest price of $3.00. The stock’s current price level is 53.93% above of average price target set by the analysts, while a rise to estimated low would result in gain of 29.67% for the stock. However, touching the estimated high of $11.00 would mean a gain of 80.82% for the stock.
According to filings with the U.S. Securities and Exchange Commission (SEC), insiders took part in trade of the company’s stock for 26 times over the past 12 months. They bought 832,954 shares in 17 of the transactions. In 9 selling transactions, insiders dumped 3,720,043 shares.
Vanguard Total Stock Market Index, Vanguard Extended Market Index Fu, and Fidelity Extended Market Index Fu are the top 3 mutual funds which are holding stakes in Eos Energy Enterprises Inc. Vanguard Total Stock Market Index is currently holding 1.92 million shares of worth totaling $4.2 million. The company recently came buying 0.22 million shares which brought its stake up to 2.32% of the company’s outstanding shares. Fidelity Extended Market Index Fu, after buying 0.36 million shares, have now control over 0.44% of the stake in the company. It holds 0.0 shares of worth $0.8 million.
Eos Energy Enterprises Inc. (NASDAQ: EOSE) started trading at $1.73, below -$0.07 from concluding price of the previous day. However, the stock later moved at a day high price of 2.1400, or with a gain of 17.22%. Stock saw a price change of 15.30% in past 5 days and over the past one month there was a price change of 56.30%. Year-to-date (YTD), EOSE shares are showing a performance of 42.57% which decreased to -28.72% when we look at its performance for past 12 months. Over the period of past 52 weeks, stock dropped to lowest price of $0.95 but also hit the highest price of $4.97 during that period. The average intraday trading volume for Eos Energy Enterprises Inc. shares is 2.64 million. The stock is currently trading 11.61% above its 20-day simple moving average (SMA20), while that difference is up 31.22% for SMA50 and it goes to 25.06% higher than SMA200.
Point72 Asset Management LP acquired 5.54 million shares of Eos Energy Enterprises Inc. having value of about $12.12 million. Data submitted at the U.S SEC by Point72 Asset Management LP revealed that the firm now holds 2.34 million shares in the company valued at close to $4940835.08, or have control over 73.33% stake in the company. Eos Energy Enterprises Inc. (NASDAQ: EOSE) currently have 76.64M outstanding shares and institutions hold larger chunk of about 33.70% of that. Holding of mutual funds in the company is about 27.87% while other institutional holders and individual stake holders have control over 5.08% and 19.23% of the stake respectively.
The stock has a current market capitalization of $187.37M. It has posted earnings per share of -$3.72 in the same period. It has Quick Ratio of 0.50. Volatility of a stock is a metric used to know how much the price of that stock is under influence and for EOSE, volatility over the week remained 14.71% while standing at 15.13% over the month.
Analysts are in expectations that Eos Energy Enterprises Inc. (EOSE) stock would likely to be making an EPS of -$0.76 in the current quarter, while forecast for next quarter EPS is -$0.61 and it is -$2.06 for next year. For the current quarter EPS, analysts have given the company a lowest target -$1.06 which is -$0.62 at the higher side of the target for the same. When we compare those targets with actual EPS, we find that company posted an EPS of -$0.56 in the same quarter a year ago. Stock’s fiscal year EPS is expected to drop by -56.00% while it is estimated to increase by 45.10% in next year.
Digging deeper we find that several firms have released their research notes about the support levels of the stock. Most recent of them is a note released by Stifel on December 02, 2022 offering a Buy rating for the stock and assigned a target price of $11 to it. On February 28, 2022, B. Riley Securities Reiterated their recommendations, while on November 22, 2021, Evercore ISI Initiated their ratings for the stock with a price target of $21. Stock get a Hold rating from The Benchmark Company on November 11, 2021.
