Zeo Energy (NASDAQ:ZEO) Shares Down 3% – Here’s What Happened

Zeo Energy Corp. (NASDAQ:ZEO)’s stock price 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.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports 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 reissued a “sell (e+)” rating on shares of Zeo Energy in a research report on Monday, December 29th. One analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, Zeo Energy presently has an average rating of “Sell”.

Zeo Energy Stock Performance

The stock’s 50 day moving average is $1.02 and its 200 day moving average is $1.42. The company has a market capitalization of $56.38 million, a PE ratio of -1.31 and a beta of -0.13.

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

Insider Transactions at Zeo Energy

In related news, insider Brandon Bridgewater sold 32,669 shares of the company’s stock in a transaction on Thursday, December 11th. The shares were sold at an average price of $1.16, for a total value of $37,896.04. Following the completion of the transaction, the insider directly owned 2,876,747 shares in the company, valued at approximately $3,337,026.52. The trade was a 1.12% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders have sold 79,890 shares of company stock worth $93,607 in the last three months. Insiders own 56.17% of the company’s stock.

Institutional Investors Weigh In On Zeo Energy

Large investors have recently made changes to their positions in the business. Piper Sandler & CO. purchased a new position in shares of Zeo Energy in the 3rd quarter valued at approximately $915,000. Citizens Financial Group Inc. RI raised its holdings in Zeo Energy by 37.6% in the fourth quarter. Citizens Financial Group Inc. RI now owns 366,175 shares of the company’s stock worth $399,000 after purchasing an additional 100,000 shares in the last quarter. Geode Capital Management LLC lifted its position in Zeo Energy by 98.2% during the second quarter. Geode Capital Management LLC now owns 173,670 shares of the company’s stock valued at $504,000 after buying an additional 86,047 shares during the period. Texas Capital Bank Wealth Management Services Inc purchased a new position in Zeo Energy during the fourth quarter valued at $77,000. Finally, SHANDA ASSET MANAGEMENT HOLDINGS Ltd bought a new stake in shares of Zeo Energy during the 3rd quarter valued at $50,000.

Zeo Energy Company Profile

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.