Zeo Energy (NASDAQ:ZEO) Trading Down 3% – Here’s Why

Zeo Energy Corp. (NASDAQ:ZEO) shares fell 3% during mid-day trading on Friday . The stock traded as low as $0.9676 and last traded at $0.98. 26,829 shares were traded during trading, a decline of 68% from the average session volume of 83,851 shares. The stock had previously closed at $1.01.

Analysts Set New Price Targets

A number of analysts recently weighed in on the stock. Wall Street Zen raised shares of Zeo Energy from a “strong sell” rating to a “hold” rating in a report on Saturday, November 22nd. Weiss Ratings restated a “sell (e+)” rating on shares of Zeo Energy in a research note on Monday, December 29th. One equities research analyst has rated the stock with a Sell rating, According to data from MarketBeat, the stock has a consensus rating of “Sell”.

Zeo Energy Price Performance

The firm’s fifty day moving average is $1.02 and its two-hundred day moving average is $1.41. The firm has a market cap of $56.38 million, a price-to-earnings ratio of -1.31 and a beta of -0.13.

Zeo Energy (NASDAQ:ZEO) last released its quarterly earnings results on Friday, November 14th. The company reported ($0.12) EPS for the quarter. The business had revenue of $23.90 million for the quarter.

Insider Buying and Selling

In other Zeo Energy news, insider Brandon Bridgewater sold 32,669 shares of the stock in a transaction on Thursday, December 11th. The stock was sold at an average price of $1.16, for a total transaction of $37,896.04. Following the completion of the transaction, the insider directly owned 2,876,747 shares of the company’s stock, valued at approximately $3,337,026.52. This trade represents a 1.12% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders sold a total of 79,890 shares of company stock worth $93,607 over the last quarter. 56.17% of the stock is owned by insiders.

Institutional Investors Weigh In On Zeo Energy

Institutional investors and hedge funds have recently modified their holdings of the stock. Piper Sandler & CO. acquired a new position in shares of Zeo Energy in the 3rd quarter worth $915,000. Citizens Financial Group Inc. RI purchased a new position in Zeo Energy in the 3rd quarter worth about $359,000. Geode Capital Management LLC raised its holdings in Zeo Energy by 98.2% during the 2nd quarter. Geode Capital Management LLC now owns 173,670 shares of the company’s stock worth $504,000 after buying an additional 86,047 shares during the period. Texas Capital Bank Wealth Management Services Inc purchased a new stake in Zeo Energy during the fourth quarter valued at about $77,000. Finally, SHANDA ASSET MANAGEMENT HOLDINGS Ltd acquired a new position in shares of Zeo Energy in the third quarter worth about $50,000.

About Zeo Energy

Zeo Energy Corp. provides residential solar energy systems, other energy efficient equipment, and related services in Florida, Texas, Arkansas, and Missouri, the United States. The company is involved in the selling and installing of residential solar energy systems that homeowners use electricity required to power their homes. Its residential solar energy systems comprise solar panels, inverters, and racking systems. It also offers insulation services, such as adding insulation to a home's attic or walls; energy efficiency equipment, including hybrid electric water heaters and swimming pool pumps; battery-based energy storage systems; and roofing services.