Eos Energy Hits 52-Week High: Here's What's Driving the Stock

Shares of Eos Energy Enterprises EOSE hit a new 52-week high of $6.47 on Friday, before closing lower at $6.02. The EOSE stock has skyrocketed 473.3% in the past 12 months compared with the industry’s 4% growth and the S&P 500’s 24.7% rise. Meanwhile, the Industrial Products sector has rallied 15%.EOSE Stock’s One-Year Price Performance Image Source: Zacks Investment Research EOSE is currently trading above the 50-day and 200-day simple moving averages, signaling strong upward momentum and price stability.EOSE Stock Trades Above Moving Averages Image Source: Zacks Investment Research Factors Driving Eos Energy StockEOSE shares recently jumped on the announcement that it expects to deliver on its revised 2024 revenue guidance of $15 million supported by increased customer deliveries during the fourth quarter. The company’s stated revenue levels of $15 million indicate revenues of $6.65 million in the fourth quarter of 2024. This suggests a significant improvement from $0.85 million in the third quarter of 2024. In the third quarter, the company encountered a supply-chain delivery delay in receiving new Z3 inline enclosures from a key supplier, which significantly impacted revenues. This issue has since been solved. For 2025, Eos Energy projects revenues to be between $150 million and $190 million, almost 10 times the projected 2024 level.The growth is expected to be driven by increased production volume from the company’s first state-of-the-art manufacturing line, along with the continued strengthening of its overall supply chain. Over the past six months, Eos Energy has been ramping up its manufacturing line while laying a solid foundation for future growth by securing financing and adding to its customer orders backlog.Eos' annualized capacity for line one is at around 1.25 GWh currently. The company expects to take it up to the two GWh level by the fourth quarter of 2025. Also to expedite the conversion of the opportunity pipeline into orders backlog, Eos Energy launched a comprehensive insurance program in partnership with Ariel Green, a division of Ariel Re, to enhance its technology bankability.The company added that it is on track to achieve the next Cerberus milestones on Jan. 31, 2025, to unlock the next round of funding of $40.5 million.  EOSE has also secured $68.3 million of funding (from the total $303.5 million loan guarantee) from the Department of Energy's Loan Programs Office in December 2024. The loan advance covers both capital expenditures and project-associated operating expenses incurred as part of the company's production expansion plans related to Project AMAZE in the Mon Valley Works.These funds support Eos’ ongoing efforts to boost its operational capacity and further its strategic growth objectives.EOSE Stock’s Zacks Rank & Stocks to ConsiderEOSE currently carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.Some other top-ranked stocks from the Industrial Products sector are Graham Corporation GHM, Applied Industrial Technologies AIT and Tenaris S.A. TS. GHM sports a Zacks Rank #1, and AIT and TS have a Zacks Rank #2 at present.Graham delivered an average trailing four-quarter earnings surprise of 101.85%. The Zacks Consensus Estimate for GHM’s 2024 earnings is pinned at $1.03 per share, which indicates a year-over-year surge of 145.2%. The company’s shares have skyrocketed 127% in a year.Applied Industrial delivered an average trailing four-quarter earnings surprise of 4.9%. The Zacks Consensus Estimate for AIT’s fiscal 2025 earnings is pinned at $9.77 per share, which indicates year-over-year growth of 0.2%. The company’s shares have gained 46.4% in a year.The Zacks Consensus Estimate for Tenaris’ 2024 earnings is pegged at $3.29 per share. The company delivered a trailing four-quarter average earnings surprise of 24.5%. TS shares have gained 25.5% in a year.7 Best Stocks for the Next 30 DaysJust released: Experts distill 7 elite stocks from the current list of 220 Zacks Rank #1 Strong Buys. They deem these tickers "Most Likely for Early Price Pops."Since 1988, the full list has beaten the market more than 2X over with an average gain of +24.1% per year. So be sure to give these hand picked 7 your immediate attention. See them now >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Applied Industrial Technologies, Inc. (AIT): Free Stock Analysis Report Tenaris S.A. (TS): Free Stock Analysis Report Graham Corporation (GHM): Free Stock Analysis Report Eos Energy Enterprises, Inc. (EOSE): Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment ResearchWeiter zum vollständigen Artikel bei Zacks Weiter zum vollständigen Artikel bei Zacks