Eos Energy Enterprises Inc. saw its stock price plummet 8.75% during intraday trading on Tuesday, marking a significant reversal from recent gains.

The sharp decline is attributed to investors locking in profits following a substantial rally the previous trading day, when the stock surged over 16% after the company reported strong first-quarter results that significantly exceeded analyst expectations.

Simultaneously, the broader energy storage sector faced significant selling pressure, with peer companies like Fluence Energy also experiencing double-digit declines, contributing to negative sentiment across the industry.