Eos Energy (EOSE) Drops 9.7%, Investors Unload Ahead of Tax Credit Deadline

We recently published 10 Stocks Already Hurting in December. Eos Energy Enterprises, Inc. (NASDAQ:EOSE) is one of the top performers on Monday.

Eos Energy fell by 9.69 percent on Monday to finish at $13.60 apiece as investors resorted to profit-taking following four straight days of rally, while unloading portfolios ahead of the looming deadline for residential clean energy tax credits.

Similar to solar companies, Eos Energy Enterprises, Inc.’s (NASDAQ:EOSE) battery business is expected to take a beating from the December 31 deadline for 30 percent tax credits which are currently being enjoyed by residential customers.

Under the provisions of the One Big Beautiful Bill Act, customers would only be able to enjoy the subsidy for battery storage systems installed by December 31.

Earlier this year, analysts said that the tax credit expiration would help prop up sales of clean energy companies in the second half of the year, as customers scramble to get their installations completed by the deadline. Thereafter, firms are expected to hurt from lower sales.

In the third quarter of the year, Eos Energy Enterprises, Inc. (NASDAQ:EOSE) said that it widened its net loss attributable to shareholders by 87 percent to $641.39 million from $342.87 million in the same period last year, primarily due to a $572.3 million cumulative non-cash impact from the changes in fair value tied to mark-to-market adjustments.

Revenues, on the other hand, soared by 3,472 percent to $30.51 million from only $854,000 in the same period last year, primarily driven by production efficiencies.

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Disclosure: None. This article is originally published at Insider Monkey.